At Ask Alan Mortgage Brokers we believe there’s no greater fun than building your own home! Finding the block of land is probably the greatest challenge, but with that out of the way the fun really begins.
Display homes give a great sense of current trends and are a wonderful way to while away many Saturday and Sunday afternoons. Choice of builder is all important and here it is essential to find examples and people your builder has built for previously.
On price – picking the middle ground is usually wise. Too cheap and you will be severely disappointed. There is no cheap way to build a home without cutting corners. Architecturally designed homes on the other hand usually come with a price tag that bank valuers won’t appreciate – and that leads to other problems.
Once you have your land contract and a builder’s contract we can start our work together.
How the finance works:
The bank will value the project and with your deposit the loan can be calculated.
The main difference between buying and building is that just as the house is built in a series of stages, so the loan is also “built” to match those stages.
These loan stages are called progress draws.
The construction process from start to finish can take up to a year, and through this process the bank pays the builder with the progress draws and your loan increases towards the final amount at each step.
I will be involved with you personally throughout this period. I have also built my own home 6 times – and especially on the early ones, made my mistakes. My experience here is to help you avoid those mistakes and enjoy your new home just as you imagined it.
Of the homes I have built, one was a display home in a housing estate that the builder leased back – that display home was my very first “mortgage” shop.
I enjoy the process of construction and will ensure that you are guided carefully through so that you truly get the home of your dreams.
Alan Heath - Call or email me anytime, it's what I'm here for.