Financing your project

Building contracts

Many homeowners choose to have a building contract drawn up at the beginning of a home improvement project.

A building contract is a formal agreement between the parties involved in a building project, such as an extension. The contract usually arranged by an architect and offers recognised protection to the homeowner and those executing contracted services.

The agreement can:

  • Specify which suppliers to use
  • Outline the details of any payment arrangements
  • Provide insurance details
  • List completion dates.

It is important that the agreement is written plainly and understood by both parties. The contract will offer a homeowner peace of mind and an element of control over the management of their project and it will also act as a benchmark tool for the contractor. All of this will enable better planning, time and cost management of the whole project.

Find out more information about building contracts from the Home Owners Alliance.