Soon
after the completion of electrical rough-ins, the plumbing rough-ins were
completed.
The
cladding (Scyon Linea weatherboard) on the front, side and rear sides on the
first floor is completed too – you can see in the pictures below cladding details
such as corners fixed with vertical timber pieces and metal capping.
With the
completion of those activities, Metricon promptly sent us the lockup invoice,
which is the biggest slice of the bill pie at 35% of total contract price. If
you are wondering why the lock-up invoice isn't 25% that is the
standard at Metricon, it is because we managed to successfully negotiate a
middle-heavy rather than top-heavy progress payment schedule as required by our
financial lenders. Our progress payment schedule consisted of 5% deposit at
contract signing, 10% at Base Stage, 15% at Frame Stage, 35% at Enclosed
(Lock-Up) stage, 25% at Fixing Stage, and 10% at Final Stage.
Although
the Boral plaster boards were delivered mid-week, the wall insulation
will need to be completed first before the plaster is hung. I hope the wait is
not too long, as there no signs yet of insulation materials on
site.
Starting to really take shape now. We also changed payment schedule to make it less up front. But I agree, that 35% will be a huge hit. Good luck with the rest of your build
ReplyDeleteYes, the facade is taking shape. And great to hear you changed your payment schedule too.
ReplyDelete35% is a huge hit indeed; with rental and progress payments, it adds up pretty big, and I would like the progress of the build to accelerate...Cheers.