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.
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.
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.
If you need a little help and want to see where you can save more, check out our budget planner.
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.
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.
Need help or would like to know more? RACQ Bank offers many convenient ways for you to get in touch with us.
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