Ok, so you are considering building your own house and you’re not sure where to start?
Have you found the land? Are you still trying to decide if building is the right idea for you?
Are you thinking about doing a knockdown and rebuild?
Construction loans are different to normal loans. This is because we do not give the builder all the money at the start, but we pay them as they do some work. For example, the builder will lay the slab and we pay for it once it’s complete. They will then build the frames and we pay for the frames once complete. The payments are called progress payments. Generally speaking, there are five to seven progress payments to a build.
Construction loans are our specialty. We are aware of the stressful points. We can guide you through each step of the process. We will take care of the payments when the time comes to make sure your builder is paid on time.
A lot of banks do construction loans, but only some do it well. The banks to look at have dedicated construction teams who will look after your loan. This means the team will make sure your build is paid on time without out any delays. This means you house will be finished earlier and you can move in and enjoy it faster.
We are happy to sit down with you before you have made any decisions on building so you know what to expect.