Get the home you want by building a new one

Building or renovating your home is a major undertaking. But for you, it may be the ideal way to get into your dream home. Whilst these projects can be costly and stressful, we can lend a hand with home loan resources and solutions especially designed for builders and renovators. Let us help with essential information on everything from finding a builder to getting a loan that’s customised to the construction process.

Calculate the costs of building your home

When it comes to choosing a home loan to help build your new home, there are a number of costs to consider. Among these are things like stamp duty, legal costs and insurance. The following is a guide to some of the costs you may encounter when building your home.

Progress payments

Stamp duty

Legal costs

Searches and inspections

Lender's Mortgage Insurance

Rates

Building insurance

Progress payments

Before building commences, you will be required to pay a deposit to your builder as well as paying a deposit if you are buying land. As the building work progresses, you will be required to make progress payments to the builder - most commonly five payments at the end of the five stages of construction. Certain home loans can be structured for progress payments to be made during construction on completion of these stages.

Click here for estimated costs incurred at pre and post settlements.