The construction phase of a property development is often where things go wrong—cost overruns, timeline blowouts, poor workmanship, or miscommunication with your builder. But it’s also where you can protect your profit, ensure quality, and deliver a successful project.

In Episode 201 of the Property Mastermind Podcast, Hilary Saxton and Bob Andersen break down the five key stages of managing the construction process. This episode will help you understand what to plan for, how to stay on top of it, and where you can get caught out if you’re not careful.

Episode Highlights

[00:00] Introduction and backstory—this is take two due to audio issues.
[02:45] Upcoming 3-Day Workshop—September 19–21.
[03:43] What inspired this episode: a real-life example of someone choosing the wrong builder.
[04:33] Difference between a builder and a developer—and why most developers aren’t builders.
[06:20] Why builders become developers—and what financiers think about builder-developers.
[10:19] Step 1: Pre-construction planning—why every detail matters.
[12:29] Changing plans mid-build? The risk of miscommunication and undocumented changes.
[13:45] Naughty builders—what can go wrong when builders substitute or skip spec items.
[17:21] Step 2: Selecting the right builder and contracts—what to check and how to do due diligence.
[21:15] What financiers are now checking when assessing builders.
[23:05] Step 3: Builder contracts—HIA, Master Builders, Australian Standards, and common adjustments.
[25:14] Step 4: Onsite management and quality control—site visits, RFIs, and building inspectors.
[27:46] Step 5: Budget and timeline management—fixed price contracts, contingencies, and avoiding cost creep.
[31:19] Using contingency funds well—and what happens when they’re not spent.
[33:05] Time clauses, liquidated damages, and finishing ahead of schedule.
[34:31] Can builders ask for a bonus if they finish early?
[36:04] Final handover and compliance—practical completion, defects, occupancy certificates, and marketing readiness.
[39:56] Unexpected costs—like the surprise swimming pool found during demo.
[41:31] Final takeaway: don’t assume—check everything and communicate clearly.

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