FIRST HOME, NEXT HOME OR PROPERTY INVESTMENT? MAJOR RENOVATION, EXTENSION, OR SUB-DIVISION AND BUILD ON THE NEWLY TITLED BLOCK?
WHICH IS IT?
The idea of building or extending your home, or delving into a property investment build, is pretty exciting on the one hand, but achieving finance can be tricky – especially when you may also be negotiating with builders, getting a ball-park or actual construction quote, sub-dividing land, buying land, and/or selling another home to help finance it in the mix. So much to do! Maybe you are stretched for time, people are pushing you to make decisions, and then your potential builder/s come up with these amazing ideas to add value to your property that are going to cost more than you bargained for. Oh dear!
When your brain goes into overdrive, it’s probably time to find some experts to give you advice and much needed assistance. And that’s where we come in at Evimero Finance.
There’s a lot to think about, but, with Evimero:
- You’ll find our ways of explaining your options for all types of finance and lending are presented in plain English.
- You’ll get the help you need to navigate the types of finance that suit your particular Construction Finance situation from our experienced team.
- You’ll also find we can assess your entire needs – in buying, selling, repayment projections and how to plan for progress payment requirements during the build, and
- You’ll be presented with a series of questions and considerations to factor in, that have probably never entered your mind.
PLANNING TO BUILD YOUR HOME – WHERE DO YOU START?
- Find the land, or decide to knockdown and rebuild on your current property
- Scout around at what the volume builders have to offer in a new suburb and buy off-the-plan, or choose an independent builder who will customise your home to what you want
- Decide whether to upsize or downsize – either on what you currently live in, or on your planned dream home ideals, and/or
- If you’re keeping your current home, there may be a Refinance situation to negotiate as well.
Making the decision to discuss any (or all) of the above, with Evimero Finance, is a very good place to start, because our service is totally personalised, at every step of the way.
Talk through what you’re thinking with us at Evimero Finance TODAY
You’ll get sound assistance to work out what your options really are to obtain the best possible Construction Finance deal.
Such fantastic communication, and so easy to deal with!
MORE THINGS TO THINK ABOUT
ARE YOU SELLING YOUR EXISTING HOME IN THE PROCESS?
Factors to nut through when you’re selling home number one, may include:
- Will you really achieve the asking sale price that your Real Estate Agent has nominated?
- Will your current home sell within a short time frame and release your capital to build?
- Can you afford what the Architect or Draftsperson has suggested?
- Have you done all you can to pre-prepare your current home to maximise your sale price potential? And will you need extra finance to do some make-over works on that current home to sell it (on top of the new Construction Finance amount)?
- Costs associated with real estate agent, transfer, conveyancing, and legal fees – for any or all of the property deals involved, and
- What if you need Bridging Finance because you sell or buy quickly, but the settlement is longer or shorter than you wanted? You may need to raise the capital to rent a temporary home, AND pay down a deposit for your new construction – and allow for progress payments?
Call to us at Evimero and we’ll help you stress less!
MAKE BUILDING YOUR HOME & ACHIEVING
THE BEST AVAILABLE FINANCE BECOME YOUR REALITY
We’ll soon get to the bottom of where you’re currently at financially, and then do a work-up of what you can (or can’t) truly afford at this point in time.
Then we’ll help you navigate any (or all) of the following elements that you might encounter along the way:
For example:
- Should you consider buying an established home instead, or pursue the idea of building a new one?
- Stamp Duty Costs
- What grants, discounts or exemptions are available – that apply to your situation? For example, you may qualify for a First Home Buyer Grant, Stamp Duty Reductions/Grants, and/or a Home Builder Grant. And, if you do qualify, how do you apply for them?
- What do you have to prove to the banks / lenders in terms of your income, assets, and ability to repay your Construction Finance loan and associated finance costs?
- What do PPR (Principal Place of Residence) and LVR (Loan-to-Value Ratio) mean?
- Some say buy off-the-plan is the best way to go. What are the pitfalls and benefits?
- Budgeting for the building process – and calculating repayments
- How to improve your potential to secure a loan in the first place
- Who to turn to for legal, conveyancing and other professional advice
- Calculating realistic allowances for variations to your new build, extension, or renovation – with a buffer set-aside for unexpected issues that WILL arise somewhere along the way, and /or
- Calculating your Loan Repayment and Establishment Costs.
And once we’ve helped you get through all of the financial ground- work, we’ll move mountains in our search for the best loan option for you.
