• The 6 key stages of construction

    Work can begin on your property the moment you receive approval from your RAMS Home Loan Specialist and the Authority to Commence (ATC) construction is issued.

  • Work can begin on your property the moment you receive approval from your RAMS Home Loan Specialist and the Authority to Commence (ATC) construction is issued. 

    Building usually happens across 6 stages of construction:

    1.     Deposit

    An initial deposit to the builder of around 5% is usually required at the time you sign your building contract. This usually happens prior to the ATC being issued.

    2.     Slab

    Once the ATC has been issued building starts with the design of the property being measured out on the site and the foundation being laid, including elements such as plumbing and electrical pipes. This usually requires a progress payment of up to 15%.

    3.     Frame

    You’ll begin to see your new home come to life as the internal frame and external support structure is built. This includes the frame, roof frame and trusses.

    4.     External lining

    At this stage the brickwork, weatherboard, cladding and external walls of your home are completed. The windows are also installed as well as the eaves and gutters.

    5.     Lock up

    Time to move indoors and install plasterboard, insulation, bathrooms, electrics, lights and internal doors. Please note – the progress payment amounts for stages 3, 4 and 5 are flexible depending upon your builder, but each one cannot exceed 35% of the total build amount.

    6.     Practical completion

    It’s been a long journey but the finish line is close. Paintwork is applied and dried, and the finishing touches completed. At this stage your builder will require a 10% progress payment. 

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  • Disclaimer:

    While such material is published with permission, RAMS is not responsible for its accuracy or completeness.  This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.