Did you know that if you are an Owner-Builder, you will need to ensure you receive a Home Building Compensation cover (for each component of work that is $20,000 and over (including GST)) from your tradies?
You will need to disclose this as a consumer warning work in your contract for sale in the event you decide to sell your home within seven years and six months after the owner-builder permit is issued.
Please refer to SIRA (https://www.sira.nsw.gov.au/insurance-coverage/home-building-compensation-insurance/advice-for-homeowners/owner-builders) or contact our office today to talk to our building lawyers if you need further information.
Written by Atul Singh
