What we do with your deposit (and why it’s important)

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Building your new home is a two-way relationship. As much as you want to have trust and faith that your builder will construct a quality new home for you, your builder will want to have trust that you are committed to them and no one else.

After your new home consultant takes you through your options, helps you select a home and provides advice around your requirements, there’s both practical and emotional reasons why you will be asked to pay some money in the form of a deposit;

It shows us you’re serious

Nothing says “I’m building with you” more than paying a deposit. Now we can move on from the ‘getting to know you’ phase and into the ‘let’s get this done together’ phase.

It demonstrates commitment

It shows us you’re serious about your new home as much as we are, and you’re ready to get the job done. This gives us confidence that we can get a move on with the documentation requirements around your new home.

It allows us to commence working on your home and engaging our people

We’re a business like any other, with a limited resource pool. Paying a deposit means we can engage our operations team to start working on drafting plans and estimating for your new home. We create a file for you with all your documentation, raise a contract, and let our construction team know there’s a new home coming down the line.

We order a soil and survey report

We can’t commence your new home without engaging an engineer to give us a detailed analysis of your block. This report allows us to ensure that the site works (or foundations) of your home are engineered to the highest standard.

We can book you a site start date

A deposit means we have certainty that you’re building with us. With limited site start dates in each month, we can now commit to a date to get your home to site.

We can also start the process of applying for Developer Approval and a Building Permit with council.

We can plan our resources

Your commitment, along with our other valued customers, means we can now forward plan as a business to know how many staff we need; how many site supervisors to engage and how many customer service people we’ll need to ensure you are well serviced, up to date and communicated with at every stage.

What you probably didn’t know is that the value of your deposit generally doesn’t cover the costs we incur until a while after construction begins. But that’s ok, that’s how our business works. We’re just happy to know you’re onboard.

BY DANIEL SENIA
June 2020

Daniel Senia is a professional sales and marketing advisor, ex-National Marketing Manager and Business Manager for two of Australia’s largest home builders and current General Manager of First Place Building Company. Have a question? Email hello@first-place.com.au