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845 posts

Ultimate Geek

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#271845 29-May-2020 09:03
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Hello.

 

I've been looking at new builds up in Millwater.

 

Some of the properties have a "Master Builder - Labour Only" guarantee.

 

 

 

Would anyone be able to explain what that means in some more detail, is there a risk by only having this type of guarantee?

 

Are master builder guarantee really important?

 

 

 

Thank you 





The little things make the biggest difference.


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4199 posts

Uber Geek

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  #2494101 29-May-2020 09:08
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The labour guarantee is for builders supplied labour and materials. This would mean that rest of house is being project managed by home owner. We got the same guarantee. Labour only master builder guarantee as the builder is hired at a fixed labour price. We are supplying the materials and project managing rest of our house to save $$. If you are getting the builder to project manage the whole house the master builder warranty for that situation will be a little more expensive.

 

I am not in the camp of master builder warranty specially if you have to pay no 10% deposit usually up front to your builder which we did not so no risk of losing the deposit if builder goes bust. This would be the main candidate of getting master builder guarantee. We did not want the master builder guarantee for ours and asked builder to remove it from his cost. Later on he paid for it out of his own pocket anyway because he wants to enter the house in master builder competition so win win for us.





Do whatever you want to do man.

  

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  #2494209 29-May-2020 10:21
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That is a good win win ^^.

 

I personally didn't bother with the Master Build Warranty. 

 

Plenty of info here to help you decide how important it is: https://www.masterbuilder.org.nz/RMBA/Master_Build_Guarantee/Master_Build_Guarantee_FAQs/RMBA/MB_Guarantee/FAQ.aspx?hkey=18a5b243-6ac6-4e45-baf7-38d7b51b773e


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