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. At RACQ Bank, we offer a range of home loans so that you can get into your dream home sooner. Take the first step and learn about the costs of building a house.

Enquire about finance

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    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:

    • 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 past their previous projects. Choose a builder you can trust and get a quote for the work before you hire them.

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

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    Understand the costs to build a house

    When you’re planning your budget, it’s good sense to have a bit of extra money 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
    • Legal and conveyancing fees
    • Building inspection
    • Utilities and connection fees
    • Home insurance

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

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    Get conditional approval before you build

    Conditional approval is free, valid for 90 days, 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 conditional approval. You’ll get a benchmark of what you can afford to borrow so you can plan your build around that magic number. Download our key facts sheet for more information.

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    Applying for your new 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 conditional approval, getting a home loan is super easy. The bank will look through your finances, make sure you can afford the repayments, and 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 lifestyle.

Your RACQ Bank Home Loan comes with RACQ membership~~

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Make room in your renovation budget
Enjoy 10% in store at Amart Furniture.
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Scoop up great value moving deals
Head to Store Local for 10% off storage and 15% off packaging.
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Get discounted eGift cards
Take 4% off Woolworths eGift cards when you're an RACQ member.
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Feel good giving back to Queensland communities
Your membership supports the RACQ Foundation’s natural disaster relief grants.

More about home buying

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Home insurance
Protecting your home and possessions gives you confidence of knowing if disaster strikes, you’re covered.
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Member discounts
When you choose RACQ Bank, you’re welcomed into Queensland’s largest club.
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Home Rescue
With RACQ Home Rescue, one call gives you fast access to trusted tradies covering a range of Home Emergencies.

Things to note

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

Insurance products (excluding Travel Insurance and the Life and Income Protection Insurance suite of products) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the PDS and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website.

~~ Terms and conditions apply to all offers. View the individual offer for full details. Offer is subject to availability and may be withdrawn at any time without notice.