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For more information and advice on building and renovating essentials and working with other building industry professionals, visit Building and renovating essentials. Registered builders, contractors and tradespeople must have domestic building insurance for all work over $16,000 . This is in addition to the builder's contractual obligations and warranties. Ensuring appropriate insurance policies are in place if you sell an owner-built home. If you are planning on being the owner-builder for a swimming pool or spa, or installing safety barriers, see the regulations and requirements on our Swimming pools and spas pages. Legal advantages or restrictions on various types of structured owner ship have existed in many societies past and present. To govern how assets are to be used, shared, or treated, rules and regulations may be legally imposed or internally adopted or decreed. Being an owner-builder can be very satisfying, but it comes with certain risks and legal requirements. Fo...