If you are planning to buy or build a home in Perth, you will probably hear people talk about building equity. In simple terms, equity is the difference between what your home is worth and how much you still owe on your home loan.

For example, if your home is worth $800,000 and your remaining home loan balance is $500,000, your equity is $300,000. That equity is the portion of the property you effectively own, rather than the bank.

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Commercial construction timelines are affected by much more than the size of the building or the number of people on site. A project can look simple at the concept stage, but once design coordination, site conditions, procurement, and construction sequencing are fully understood, the actual timeframe can shift significantly. Here are some common reasons for delays.

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If you are building a home, planning a renovation, or delivering a commercial project, one of the easiest assumptions to make is that paperwork can be sorted out once work is underway. In practice, that can create a much bigger problem than many people expect.

Read more “What happens if construction work starts without a permit”

If you’re planning to build a warehouse, office, medical suite, retail building or childcare centre development, the finance process usually looks very different from a traditional construction loan.

Read more “What is a commercial construction loan and how does it work?”

When most people picture a home under construction, they think of the visible parts like walls, windows, roofing, and finishes. But the elements that support the building are often hidden beneath or behind those surfaces, working in the background to keep the structure stable and secure.

If you’ve commissioned a new home, it helps to understand a few of the common structural terms you may come to hear during construction process. Things like footings, lintels, joists, cleats, and gussets all play different roles. Each contributes to how the building carries weight, transfers loads, and stays secure over time.

For readers who want to keep learning about materials, systems and specifications, these Australian building design and specification resources provide extra background without turning this article into a technical engineering guide.

Read more “Structural elements in construction: footings, lintels, joists, cleats and gussets”

In construction, RFI stands for Request for Information. It is a formal request for information during a project when something in the drawings, specifications, scope, or site conditions is unclear and needs to be confirmed before work can proceed.

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In construction, ITP stands for Inspection and Test Plan.

It is a quality-control document that shows what needs to be inspected, tested, when those checks should happen, and who is responsible for them during the construction process. An ITP helps make sure the work is carried out in line with the project requirements, drawings, specifications, and relevant standards.

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Cost plus is a construction pricing model where the owner pays the actual cost of delivering the project, plus an agreed builder’s fee or margin. Instead of agreeing on a fixed price at the start, the final contract value depends on what the work costs as the project progresses.

The “cost” part usually includes items such as labour, materials, subcontractors, and any other project expenses. The “plus” is the builder’s margin or management fee, which covers overhead and profit.

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A Prime Cost (PC) item is an allowance in a building contract for an item that has not been selected when the contract price is prepared. It usually applies to the supply of a fixture or fitting excluding the labour to install it.

Common PC items include taps, toilets, basins, tiles, appliances, door hardware, and light fittings.

Read more “What is a Prime Cost item in construction?”