King of the Castle made easy

14 June 2016

| Home Loan

Building and designing a brand-new home is a sure-fire way to turn that ownership dream into reality, and provides years to enjoy all the modern conveniences and creature comforts on offer. 

Make a list, and check it twice

Whether it’s a contemporary family home, a couple’s cute courtyard or hip villa for one, understand what you want to achieve. Set a realistic budget that covers additional costs for driveways, fencing and landscaping.

Be a chip off the old block

Take time to check the Land Title Certificate and local council for any easements or impediments, and consider a soil test to check whether expensive footings might be needed.

Don’t bust the budget

A financial health check will show how much you will be able to borrow. Consider getting finance pre-approval early, so that you can plan your build with confidence.

Make your money work

A Standard Home Loan is one way to buy a block, followed by a construction loan later. Otherwise, a Construction Loan lets you buy the land and build the house, drawing on approved funds to pay builder's invoices as stages are completed. That means you pay interest only on funds used, and payments tend to be interest-only until the work is finished.

To find out more, call us on (08) 8202 7777 or drop into our Member Experience Centre.

*Lending criteria, fees and conditions apply. Offer is current as at 9/5/2017 and is subject to change. Minimum loan $300,000 with a loan to value ratio over 80% when purchasing a new (fully constructed) or established home. Construction loans do not qualify for the grant. To be eligible, applicants must not have previously owned residential property in Australia. Available to natural persons only (i.e. not a trustee or a company).

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Call us on (08) 8202 7777 or visit us at 400 King William Street, Adelaide