Get the lowdown on building your own home, from slab to shingles.
Take a look at the pros and cons when you build your own home – including some potential savings.
Get to grips with your building contract, and avoid nasty surprises later on.
Don’t get caught out by the cost of building a new home – check our list of frequently forgotten expenses.
Get a fix on what you can borrow, and start planning your build.
For construction loans, you need to have a deposit that’s at least 20% of your property’s projected value ready to go.
A construction loan is funded in ‘progress payments’ that cover the costs for each stage of your home. Payments are sent to your builder as each stage of work is completed.
We do a valuation before making the first and final payments. There might be other inspections along the way just to check everything’s still on track.
While construction is underway you’ll only pay the interest on your loan – you won’t be paying down any of the actual loan proper until you’ve completed construction.
You won’t be able to top up your construction loan until your house is finished – so make sure you’ve borrowed enough to cover all your costs.
Once building is underway, it’s important you let us know right away if there are any changes to your building contract or council-approved plans.
Do your prep right and take the heartache out of loan application.
All prepped? Time to get your loan underway.
Track your funding stages and other requirements with our construction loan fact sheet.
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