This is the most common contract. The builder looks after everything, including project management, supplying materials and arranging sub-contractors.
The guarantee covers:
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Loss of deposit, not exceeding twenty per cent (20%) of the contract price, or $50,000, whichever is the less
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Non-completion of the dwelling, not exceeding twenty per cent (20%) of the contract price, or $100,000, whichever is the less
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Structural defects for 7 or 10 years
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Non-structural defects for 2 years
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Alternative accommodation
Click here to download a summary of the benefits of a Homefirst Builders Guarantee.
