4. Getting Finance

The Basics

Getting finance to build your home can be quite stressful. One of the reasons for this anxiety is that most people think that getting pre-approval guarantees them the funds to build their home.

There are two problems with this as pre-approvals have limitations:

A 3 month life span
Not a guarantee for the funds

In order to get the final approval for your loan, you will need 3 important documents from your builder:

Approved house plans
The final tender
Signed contract

The bank will need all three documents before giving you final approval for your loan. Sometimes before you get these documents you will have to go on a 6-12 month journey with your builder.

It is very important that you only use the pre-approval as a guideline and a rough budget to what you can afford and be sure to plan ahead.

1. What is a Provisional Allowance?

A Provisional Allowance is exactly that, an allowance that can increase or decrease subject to a certain circumstance. Therefore a Provisional Allowance is the opposite definition of Fixed Price.

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2. How long is it going to take to build?

Building your home can be both an exciting and stressful journey. There are so many stages that influence your building process so it’s really important to understand what they are and how long each of them take?

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3. The 4P's When Choosing Your Builder

Choosing the right builder can be daunting and difficult. Simplify your selection and be confident in making the right decision by addressing the 4P's - product, people, process and price.

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5. How to Choose a Builder

When you decide to build a house, there are three major considerations outside of price. Most people look solely at the price but other factors such as the quality, process and the service builders provide in order to construct your house.

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