Stage Payments

corboy

Hi all,
Looking for some advice on stage payments, I was thinkng of increasing the number of payments, the idea being that the quicker the builder progresses the sooner he gets his hands on money,

Any ideas on what percentage for each stage and if I wanted to add in an extra 3/4 stage payments what these stages should be,

Obviously I plan to laeve a good chunk for the final payment but what % of total??,

Thanking you all in advance,

sydthebeat

corboy wrote: »

Hi all,
Looking for some advice on stage payments, I was thinkng of increasing the number of payments, the idea being that the quicker the builder progresses the sooner he gets his hands on money,

Any ideas on what percentage for each stage and if I wanted to add in an extra 3/4 stage payments what these stages should be,

Obviously I plan to laeve a good chunk for the final payment but what % of total??,

Thanking you all in advance,

the more the stage payments, the more the site visits require by your certifier, the more they will charge (assuming you have such an engagement).

I cant see why adding stages to the build will increase the builders rate. Get him to sign a completion date with penalties is not achieved, and bonuses if achieved in advance... this will focus his concentration.

corboy

I have sold my old house so wont need certifier for all the stage payments as have cash for the first few,

what are the standard stages for payments?

sydthebeat

generally:

1. foundations
2. floor
3. blockwork
4. roof
5. plastering, windows and doors
6. completion

the percentages of the breakdown are usually as per contractor.

snellers

Far more in the know people will comment on this but just in case as you didnt mention it my understanding is that you generally retain a portion of the fee to allow for snagging. This amount is agreed on at start of the build with an agreed date for the retention to be paid back some time after build is finished.

sinnerboy

assuming new build , green field site break overall cost into

site enclosures ( temp fencing )
foundations
below ground services ( drains / esb / gas etc )
ground floor
external walls not plastered
first floor
roof , to felt and battens
windows + external doors -fitted ( + veluxes )
internal walls , not plastered
1st air tightness test visit ( pre test )
m+e first fix
plastering - walls internal
plastering -ceilings
roof tiles and flashings
plastering wall external
m+e second fix
2nd air tightness test visit ( test )
decoration internal ( and external if relevant )
footpaths , driveway boundary walls/fences gates
seeding / planting
builders clean up / snagging

PC sums (allowances ) - you pick - builder buys and installs
kitchen + utility
bathroom fittings
floor finishes
wall finishes ( tiles )
windows
wardrobes ( fitted )
light fittings
fireplace(s)

allow ( yourself - don't mention to builder ) 10% contingency on top of this - extras / unforeseens ALWAYS arise ( well nearly always )

items follow rough sequence of works

quote should break costs across items

progress claims to based on % completion of each item - deduct 5% of claim each time . when finished release half of all 5% 's

look carefully at each progress claim as presented of course , but more so towards completion .

keep remaining 2.5% for 12 months - to pay for defects ( snags ) that arise after you move in

agree to this at outset with builder

sign an RIAI blue form of contract with builder

appoint a professional to oversee works / issue certs

depending on build type a house will take between 8-12 months to complete

monthly payments are the norm

make decisions on PC's ASAP and don't change your mind mid build