Building a New Home
Building a New Home
Building your own home is an exciting journey and we’re here to help make it smooth from the ground up. Whether you’re buying land and building, working with a builder, or applying for a construction loan, we’ll guide you through each step. From finance approval to progress payments and government grants, we help you understand your options and stay in control throughout the process.
Building a New Home FAQs
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Most people use a construction loan, which releases funds in stages as the build progresses.
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It’s drawn down in parts (progress payments) instead of one lump sum, helping you pay interest only on what’s been used.
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Both are common. We’ll help you understand the pros, cons, and finance implications of each.
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You don’t need final approvals to apply, but lenders usually want signed building contracts and plans before formal approval.
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Yes! Many grants, like the First Home Owner Grant, apply to newly built homes. We’ll help you check your eligibility.
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Most lenders require at least a 5–10% deposit, depending on your financial situation and the total cost of the build.
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Changes can affect your loan and budget. It’s best to finalise plans before approval, but we’ll help manage updates if needed.
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Payments are made at key stages (e.g. slab, frame, lock-up). The lender pays the builder directly after inspecting each stage.
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Most lenders prefer or require it. It helps keep costs predictable and supports your loan approval.
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Yes — if you already own the land, the equity can reduce your upfront costs or act as your deposit.
Watch & Learn: Expert Insights Made Simple
Explore easy-to-follow videos on home loans, property investment, and smart finance tips—designed to help you make confident decisions.