Guest matt&dan Posted July 2, 2007 Share Posted July 2, 2007 Hi everyone I've got a question if anyone can help but its quite longwinded, here goes When we get to the Gold Coast we would like to buy a plot of land and OH would like to build the house himself. (Excellent bricklayer) Would we be able to get a mortgage to cover the land and build costs and for OH to take a small wage for us to survive on whilst building. Or do they only lend when you go through a well known building company. If they did it would surly make our mortgage smaller as we would be cutting out the middle man and as well as being a brickie oh fits kitchens, bathrooms, tiling, doors everything so we could even use our home as marketing at the end So can anyone tell me if they think this may be poss ! :spinny: Thanks Link to comment Share on other sites More sharing options...
Guest BullcreekBob Posted July 3, 2007 Share Posted July 3, 2007 Would we be able to get a mortgage to cover the land and build costs and for OH to take a small wage for us to survive on whilst building. Or do they only lend when you go through a well known building company. G'day Some banks won't lend to owner builders, some will but they will lend less than if the build was being done by an established building company. ANZ will lend but to a maximum of of 80% of the land value and nothing for the house. WestPac will lend up to 60% of their valuation of the completed house and land value. There are some other banks that will look at it on a case by case basis. I'd suggest you find and talk to a mortgage broker about your circumstances. Link to comment Share on other sites More sharing options...
Guest KP Nuts Posted July 3, 2007 Share Posted July 3, 2007 now thats interesting cos i was thinking of possibly doing the same thing but getting certain required trades in, ie, sparks chippies plasterers. But i'm sure someone has threaded this before an there was some talk about you having to be registered for one thing or another. Sorry to be so vague. MrKP Nut. Link to comment Share on other sites More sharing options...
Guest matt&dan Posted July 3, 2007 Share Posted July 3, 2007 G'day Some banks won't lend to owner builders, some will but they will lend less than if the build was being done by an established building company. ANZ will lend but to a maximum of of 80% of the land value and nothing for the house. WestPac will lend up to 60% of their valuation of the completed house and land value. There are some other banks that will look at it on a case by case basis. I'd suggest you find and talk to a mortgage broker about your circumstances. Thanks BullcreekBob, the information you gave gives us a clearer picture. I notice that you are a mortgage broker, do you have any objections of us contacting you once we arrive if we are still planning this Link to comment Share on other sites More sharing options...
Guest Aldo Posted July 8, 2007 Share Posted July 8, 2007 I too went through the same thought process, then after getting here and doing a bit of investigation I realy don't think its worth all the stress and ball ache. There is much more to building a house than laying a few bricks and unless you know the system inside out here you will be lining your self up for a fall. There are litraly hundreds of house builders that sell plots, land/house packages and house only deals and they knock them out all day long 7 days a week and for as little as 150,000 (not including plot) you could have a brand new 4 bedroom house built to a high spec with guarantees about 6 years (structural), all white goods, they will pay rent for like house if build goes over project. take a look here. House and land packages South East Queensland Gold Coast Brisbane Link to comment Share on other sites More sharing options...
Jarvl Posted July 8, 2007 Share Posted July 8, 2007 Hi everyoneI've got a question if anyone can help but its quite longwinded, here goes When we get to the Gold Coast we would like to buy a plot of land and OH would like to build the house himself. (Excellent bricklayer) Would we be able to get a mortgage to cover the land and build costs and for OH to take a small wage for us to survive on whilst building. Or do they only lend when you go through a well known building company. If they did it would surly make our mortgage smaller as we would be cutting out the middle man and as well as being a brickie oh fits kitchens, bathrooms, tiling, doors everything so we could even use our home as marketing at the end So can anyone tell me if they think this may be poss ! :spinny: Thanks My hubbie works with an Electrician, who had a house built using the same builders that we did. He asked him why he didn't build himself,as he knew someone in every trade he needed, his answer was that he could not do if for the same price, apparently house builders get huge discounts for materials etc, he did however, do the electrics himself, which was obviously taken off the price. Hope this helps, Jarvl. Link to comment Share on other sites More sharing options...
Guest BullcreekBob Posted July 8, 2007 Share Posted July 8, 2007 Thanks BullcreekBob, the information you gave gives us a clearer picture.I notice that you are a mortgage broker, do you have any objections of us contacting you once we arrive if we are still planning this G'day Not at all. Please feel free to PM or email me. Link to comment Share on other sites More sharing options...
Guest Laura G Posted July 12, 2007 Share Posted July 12, 2007 Hi, I'm on the Gold Coast and have bought land and built a house, we designed our own house and tendered it through several builders, I think I got a good deal, my OH is a Plumber abd he did all the work, so we saved some money. Also because of strict licensing in QLD you have to have your house signed of at different stages, so all trade need to be licesnsed and there are certain things you are not allowed to do yourself. If you need any help or advice about the Gold Coast, drop me a line:spinny: Laura Link to comment Share on other sites More sharing options...
tuckerfa Posted July 12, 2007 Share Posted July 12, 2007 Aldo, what a great site. :notworthy: This has certainly opened a few more options for us when we eventualy get there. Thanks a lot. The Tuckers Link to comment Share on other sites More sharing options...
Guest Laura G Posted July 13, 2007 Share Posted July 13, 2007 Hi Chelle, I bought a plot of land 1200sqm corner plot, I have a 4 bed home split level with a pool the house size is 45 squares which is about 450sqm. The Gold Coast suburbs are generous with their land size and is quiet, I am happy and so is my family. In the UK I had a three bed semi and could hear the guy next door sneeze!!! 1200sqm is too much, depending on what style of home you want depends on how much land you need. Low storey houses (Bungalows) are the cheapest to build, but if you want a large house then it will obviuosly spread out over the land more, if you build a double storey then it wont take up so much ground floor and you would therfore wont need lots of land. I think 900sqm is adequate for what you are after, I now have lots of garden to landscape and look after and it is a pain, especially as there are high level water restictions on the Gold Coast. Link to comment Share on other sites More sharing options...
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