Build your dream home one step at a time

When you’re building a house from scratch you’ve got all the freedom you need to create a home that perfectly suits your life. Take advantage of energy efficient materials that have little ongoing maintenance and you’ll enjoy a sturdy home that can last a lifetime. While the design of your house is totally in your hands, at RACQ Bank we’re here to provide upfront, reliable and honest advice so you can get into your dream home sooner. Find out more about the costs of building a house so you can build with confidence.

Step 1

Planning to build

There’s a whole lot more to think about when you’re planning to build instead of buy. Building a home gives you free rein to find a block of land and plan a house to suit your family’s life in Queensland. Here’s some of the first steps to consider when you’re planning a build;

Home buying tip!

Use the Find a Master Builder tool and get in touch with the closest licenced contractors to you.

Get the right block of land

Are you after a small or large block? Do you crave city living, suburban serenity or beachside bliss? Does your land need to be flat or is a sloping block going to offer better views?

Hire an architect/drawer

Get your dream house down on paper with an architect who can bring your vision to life. Architectural drawings may be included in your building package so work closely with the designer and create a house you love.

Find a contractor/builder

Get reviews of potential contractor’s work and see if you can drive-by their previous projects. Choose a builder you can trust and get a quote for the work before you hire them.

Know your budget

Simple borrowing power calculators help you understand your budget so you can plan your build easier. Loan comparison calculators let you see how different loans will affects your repayments.

Step 2

Understand the costs to build a house

When you’re planning your budget it’s good sense to have a bit extra up your sleeve. Get an idea on what you can afford to pay and keep your budget in check before you start the build. While unexpected building costs may arise, it’s good to know what extras you may be up for so you can plan in advance. Find out more about the costs to build a home and use our calculators to plan your budget.

  • Lenders Mortgage Insurance (LMI)
  • Lending fees
  • Stamp duty or transfer duty
  • Soil tests
  • Land registration
  • Landscaping/driveways/wheelie bin costs
  • Moving costs
  • Legal and conveyancing fees
  • Building inspection
  • Utilities and connection fees
  • Home and Contents Insurance

If you need a little help and want to see where you can save more, check out our budget planner.

Step 3

Get pre-approval before you build

Pre-approval is free, valid for three months and gives you the confidence and time you need to get your build sorted. Before you get too deep into the building process it pays to have pre-approval. You’ll get a benchmark of what you can afford to borrow so you can plan your build around that magic number.

Step 4

Getting your home loan

Once you’ve chosen a bank to fund your build, it’s time to get your home loan. If you’ve already got pre-approval, getting a home loan is super easy. Download the home loan application checklist so you know what you'll need when you're ready to proceed with your home loan. The bank will look through your finances, make sure you can afford the repayments and will check your block of land and building plans will equal a house worth what you’re paying.

You’ll choose a home loan that has either fixed or variable interest rates. Both types of home loans have their own benefits and could save you a bit of money. Find out more about interest rates and make the best choice for your life in Queensland.

Owner occupied rates

Fixed Rate

Lock in your repayments and have the freedom to plan your budget with confidence.

2 year fixed - Choices 3.72 % p.a Owner occupied
4.80 % p.a Comparison rate
View key features
  • Security of fixed repayment amounts
  • Additional repayments available, up to $10,000 p.a.
  • 1,2,3 and 5 year terms available

Mortgage Breaker

Our full-feature variable loan lets you manage your money so you can pay your mortgage back faster.

1 year intro 3.72 % p.a Owner Occupied
4.91 % p.a Comparison rate
View key features
  • 100% offset facility
  • Access to 3-month repayment pauses
  • Flexibility of a split loan option
  • Unlimited additional repayments

Mortgage Saver Special

Enjoy our low rate variable home loan and save with no establishment or ongoing fees.

Mortgage Saver Special 3.62 % p.a Owner occupied
3.62 % p.a Comparison rate
View key features
  • Available for new lending only
  • Flexibility of a split loan option
  • No annual or monthly account keeping fees
  • Unlimited additional repayments


Bundle things up and save on your home loan and across RACQ products and services.

Mortgage Breaker variable - Choices 4.09 % p.a Owner Occupied
4.47 % p.a Comparison rate
View key features
  • Discounted interest rates
  • Flexibility of a split loan option
  • No annual fee on an RACQ Platinum Rewards Credit Card