The key is to be really clear about your finances…
When you ask people what the first step is to building a new home, you’ll likely hear things like; “find a block of land”, “visit display homes”, or “choose a floorplan!” While all of those steps are important and certainly enjoyable, they’re actually not the ideal place to start.
The fact is, before you invest time and energy looking at display homes, or visiting land estates you first need to get REALLY CLEAR about your finances.
Many people fail to recognise just how important finance can be to a successful build. As new home build advocates, we encourage all of our clients to make finance and loan structure a priority.
To ensure you get your new build off on the right foot, the first thing to do is to talk to an expert in construction finance. It’s a specialised field and this one step could save you huge amounts of time down the track, as well as save you considerable amounts of money.
By engaging an expert in construction finance, you will instantly gain unparalleled access to a range of innovative construction lending solutions. It’s important that you choose someone with an in depth understanding of lender and builder requirements.
Build delays are often experienced by people who arrange their finance through unspecialised lenders. As advocates, our primary role is to know precisely what builders need and when; coordinating everything so clients can enjoy a seamless build.
MONEY SAVING TIP:
Whether you’re a first homebuyer, experienced buyer or investor, before you sign a contract for land, it’s best to seek an approval in principle/ pre-approval which allows you to know exactly what you can afford. This will also give you more credibility when negotiating contract terms with builders and developers.
To discover a mortgage product that’s perfect for you (allowing for the most adequate tax deductibility, risk protection and ease for future lending), register with us today for a complimentary financial health check from one of our preferred mortgage partners 1300 993 683.