HOMEBUILDER GRANT: $25,000 STIMULUS PACKAGE ANNOUNCED!
The HomeBuilder scheme, a housing stimulus package of $25,000 for owner-occupiers to build a new home or renovate their existing house has just been announced by the federal government. The total value of the package is estimated to be $688 million, allowing for around 27,000 grants. Stimulus packages are not a new term in the construction space. […]
6 THINGS YOU MUST KNOW ABOUT HOME CONSTRUCTION LOANS
1. Construction Loans are different to traditional home loans Construction loans are designed to allow you the ability to build your dream home, but also to mitigate risks of project blow-out and delays. Every bank has different policies but generally you shouldn’t expect to receive the whole sum once you sign all the papers. The […]
THE ULTIMATE SECRET OF VALUATION UPLIFT AFTER RENOVATIONS
You may have an investment property that you plan to renovate, or it may be your own house. Once the renovation is finalised, it is a good idea to get your property re-valuated. Here’s why: Let’s say the property’s original value was $1M and your loan is 80% of the value. You just finished with […]
TAKE THE STRESS OUT OF CONSTRUCTION LOANS
Buying a house and building a house is not the same thing. Financing a house purchase is relatively straightforward. You agree on a sale price, your broker gets you a good deal with a bank that lends you 80% of the cost, and you pay the remaining 20% plus costs. You then settle on a pre-agreed date. Result: […]