Building A Home
Building your dream home? Let’s make sure the finance is as solid as the foundations.
Whether it’s your forever home or a dual-income investment, building from the ground up brings big opportunities, and a few moving parts. We’ll help you navigate the construction loan process with confidence and clarity.
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Construction loans don’t work like standard home loans, and that’s a good thing. Instead of receiving the full loan upfront, the bank releases funds in stages as the build progresses, in line with the Construction Schedule of your building contract. This helps manage costs timing and ensures you only pay interest on the funds used throughout the build as it progresses.
We’ll guide you through each stage, from funding the land purchase to final completion. Most banks offer competitive home loan rates for construction, no need for complicated commercial lending, even if you’re building more than one dwelling.
Give us a call to discuss and we can work out what’s the best pathway for you and your build.
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Banks often take a more cautious approach with owner-builder applications. They will typically lend less than they would to an independent third party builder and ask for additional evidence of cost controls, contingency plans and other functionality limitations on the facility like the timing of payments, but that doesn’t mean it can’t be done.
We’ll show you which lenders are more open to owner-builder scenarios and help structure your loan accordingly.
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To get started on your funding plan, you’ll typically need:
A fixed-price building contract
Council-approved building plans or Development Approval (DA)
A detailed inclusions list
With these documents, we can begin putting together a funding plan that will help us discuss the next steps towards preparing your loan application, whether it’s building for your own home or a rental investment.
