What is Compare My Build?

An interactive comparison platform for home buyers to evaluate builders, plans, and inclusions in their region side-by-side.

What type of building contract should I use?

Most Australian builders use standard form contracts from their state's industry body (e.g. HIA or Master Builders). These contracts are designed to be fair to both parties but tend to favour the builder. You can have a lawyer review the contract before signing — this is recommended for custom builds or complex contracts. For standard project homes, the standard form is generally adequate, but read it carefully.

How much deposit should I pay?

Deposits are regulated by state law. In most Australian states, the maximum deposit is 5–10% of the total contract price for homes under $200,000 and 5% for homes over $200,000. Some states cap deposits at 5% regardless of price. Never pay more than the legal maximum. The deposit should be held in trust, not paid directly to the builder.

What's a provisional sum vs a prime cost item?

A provisional sum is an estimate for work where the full scope isn't known at contract signing (e.g. site costs, earthworks). A prime cost item is an allowance for materials or items where the exact choice isn't finalised (e.g. tapware, tiles). Both can increase if the actual cost is higher than the estimate. See our Provisional Sums Explained guide for details.

Do I need a construction loan or a regular home loan?

If you're building a new home, you need a construction loan, not a regular home loan. Construction loans release funds in stages (progress payments) as construction progresses, rather than as a single lump sum. This means you only pay interest on the funds drawn, not the full loan amount. See our Construction Loan Basics guide for details.

What insurance do I need during construction?

Home-warranty or compensation requirements are state-based. For example, NSW uses Home Building Compensation (HBC/HBCF) for eligible work, while Queensland uses the Queensland Home Warranty Scheme. Your builder should also carry the insurance required for the work, including relevant contract works/public liability cover. Check the current requirements for your jurisdiction and your contract before construction starts.

Contracts, Finance & Costs — Guide for Australian Home Buyers

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Contracts, Finance & Costs

Your complete learning centre for building contracts, finance and costs. Understand your tender, protect your rights, manage your payments and avoid the legal traps that catch unprepared buyers.

8 guides 3 categories Independent & builder-neutral

Your building contract is one of the most significant legal documents you'll ever sign. Understanding what's in it, what's not, and what to watch for protects you from costly disputes, budget blowouts and unfinished projects. This learning centre brings together independent, builder-neutral guides on contracts, finance, payments, insurance and legal rights — so you can build with confidence.

Featured Guides

Start here — the most important reads in this learning centre

Contracts & Tender

3 guides

Payments & Finance

2 guides

Deposit & Progress Payments

How payments work during construction, standard payment schedules.

5 min read

Construction Loan Basics

Construction loans, progress draws and how they differ from regular home loans.

6 min read

Legal Rights & Insurance

3 guides

Helpful Checklists

Pre-Contract Checklist

Everything to check before signing your building contract.

Site Costs Checklist

Checklist for site costs and provisional sums.

All Checklists

Browse every checklist on Compare My Build.

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Understand the five stages of construction — slab, frame, lock-up, fixing and practical completion — what happens at each stage, what to check and how to communicate with your builder.

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Contracts, Finance & Costs

Featured Guides

Contracts & Tender Explained

Understanding Your Builder Tender

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