HOMEBUILDER GRANT: $25,000 STIMULUS PACKAGE ANNOUNCED!
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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
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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
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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
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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: […]