Financing Your Build

Finance-Financing-your-build1 It is important you get your finance right when undertaking a build.

Are you wondering how you are going to arrange and manage the finance for your new home build while making sure the actual construction is completed on time and to budget? At New Build we take care of the finance for you, giving you more time to focus on building your home the way you want it.

All too often finance is an afterthought. If you spend most of your time finding a section and a builder or a house and land package and not the right finance, the building process can become unnecessarily problematic - certainly something to avoid.

Don’t run out of funding during your build!

It’s easy to run out of money during construction. There are several reasons why this might happen, but they can all be overcome:

  • You may have to pay rent and construction loan interest at the same time. This is one of the biggest causes of stress but can be overcome using NewBuild’s ‘Turn Key’ finance option.
  • Having too many items excluded from your contract. If you want to do some of the work yourself (driveways, retaining walls, landscape, etc.) you must either hold back some of your deposit from the bank or you need to find a way to include these costs in your finance.
  • Your builder may have omitted items that you thought were included or the provisional cost sums were not accurate.

How does NewBuild reduce the risk of building?

Though building has an element of risk, much of this risk can be mitigated through good management. NewBuild manages this risk for all involved parties:

  • You – by having progress payments managed and contracts tight
  • Your Builder – who knows exactly how much they will be paid and when
  • Your Lender – who has certainty that the right amount of money is being paid and that financial oversight of the project is enhanced through NewBuild