Building contracts can be full of hidden traps and confusing jargon. In this episode, we break down the five clauses that trip up most homeowners - covering prime costs, provisional sums, payment schedules, special conditions, build time frames and utility connections.Topic timestamps 02:28 Prime Costs (PCs): allowances for items not yet selected (e.g., taps, tiles) 03:41 Provisional Sums (PSs): estimated costs for work not yet defined (e.g., excavation) 07:32 Payment Schedules: deposit, base, frame, lockup, fix, final payment 07:42 Contract Details: what the contract must include 08:25 Different Contracts: progress payment methods (Schedule 1 vs Method 2) 09:21 Monthly Payments Misunderstanding: why it’s milestone-based, not monthly 09:37 Tips When You Get the Invoice 13:43 Special Conditions: extra terms to watch out for 17:09 Build Time Frames: contract vs real-world expectations 22:55 Utility Connection Costs: water, electricity, gas, NBN 23:05 Common Misconception About Utility FeesJoin Australia’s most trusted new home education community Get FREE stuff: Ultimate Home Building Guide w/ templates & checklists Join here > https://www.skool.com/home-building-hub-3827 Liking the show? Please leave us a 5 star rating on your podcast platform and share the show with others - thank you. Please consider subscribing too. Got a question, topic idea or feedback? Head to our website and leave your comments there > homebuildinghub.com.au or send an email to [email protected]

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