Browse Forums Building A New House 1 Jan 04, 2021 2:58 pm Hi all,firstly Thankyou for soo much information!! We have just purchased our land outright in the hunter valley and are doing a construction loan for the build.After meeting with a builder today and our broker I’m confused a little. So builder advises they do site survey, soil test, contouring,BAL rating, and then apply for the DA(zoning requires a DA) The broker advises the construction loan has a very specific payment structure -ie slab,frame So I’m wondering how much roughly(give or take) the upfront costs prior to slab we will have to fork out,just so we don’t have this land with a builder and not enough to go ahead with anything.We are first home buyers,so not sure if that money can go towards those costs? We are still shopping around builders as we have a specific shape in mind (something with a H pattern or U shape with internal courtyard) rumor is McDonald Jones are currently 2 years behind with their builds. Re: Pre Construction Costs 2Jan 04, 2021 5:44 pm 123heyitsme .......we have a specific shape in mind (something with a H pattern or U shape with internal courtyard) Exactly what I want. If you build it, I will be following your thread. I hope that you start a thread but be aware of the plan's copyright ownership. 3in1 Supadiverta. Rainwater Harvesting Best Practice using syphonic drainage. Cleaner Neater Smarter Cheaper Supa Gutter Pumper. A low cost syphonic eaves gutter overflow solution. Re: Pre Construction Costs 3Jan 04, 2021 6:46 pm 123heyitsme Hi all,firstly Thank you for soo much information!! We have just purchased our land outright in the hunter valley and are doing a construction loan for the build.After meeting with a builder today and our broker I’m confused a little. So builder advises they do site survey, soil test, contouring,BAL rating, and then apply for the DA(zoning requires a DA) The broker advises the construction loan has a very specific payment structure -ie slab,frame So I’m wondering how much roughly(give or take) the upfront costs prior to slab we will have to fork out,just so we don’t have this land with a builder and not enough to go ahead with anything.We are first home buyers,so not sure if that money can go towards those costs? We are still shopping around builders as we have a specific shape in mind (something with a H pattern or U shape with internal courtyard) rumor is McDonald Jones are currently 2 years behind with their builds. If you are doing a land loan the bank will lend 80%. The builder will usually take roughly around 5% up front for all the above mentioned "site survey, soil test, contouring,BAL rating, and then apply for the DA" and also getting the tender ready. then the 15% balance you pay on the first invoice for the slab (or more if you have funds) hope that helps a little Re: Pre Construction Costs 4Jan 04, 2021 7:23 pm Fore20 123heyitsme Hi all,firstly Thank you for soo much information!! We have just purchased our land outright in the hunter valley and are doing a construction loan for the build.After meeting with a builder today and our broker I’m confused a little. So builder advises they do site survey, soil test, contouring,BAL rating, and then apply for the DA(zoning requires a DA) The broker advises the construction loan has a very specific payment structure -ie slab,frame So I’m wondering how much roughly(give or take) the upfront costs prior to slab we will have to fork out,just so we don’t have this land with a builder and not enough to go ahead with anything.We are first home buyers,so not sure if that money can go towards those costs? We are still shopping around builders as we have a specific shape in mind (something with a H pattern or U shape with internal courtyard) rumor is McDonald Jones are currently 2 years behind with their builds. If you are doing a land loan the bank will lend 80%. The builder will usually take roughly around 5% up front for all the above mentioned "site survey, soil test, contouring,BAL rating, and then apply for the DA" and also getting the tender ready. then the 15% balance you pay on the first invoice for the slab (or more if you have funds) hope that helps a little So I’ve got this right,the land we own(no loan) the bank is using the land as equity for the construction loan (our deposit if you will for the construction loan) so for the builder to start construction we will have to come up with 5% deposit ourselves ? Or will this come out of the loan? Re: Pre Construction Costs 5Jan 04, 2021 7:57 pm We are building (or have nearly built) a U shaped home, not so much an internal courtyard, we have a pool in the U shape, ours is a custom design, i don’t know of any MJ homes that have a U shaped design, what are you looking at? We looked at the hermitage grand but opted for a full custom design Re: Pre Construction Costs 6Jan 04, 2021 8:14 pm gogo65 We are building (or have nearly built) a U shaped home, not so much an internal courtyard, we have a pool in the U shape, ours is a custom design, i don’t know of any MJ homes that have a U shaped design, what are you looking at? We looked at the hermitage grand but opted for a full custom design Looked at the larger builders in our area due to the steel frame and extras packages -MJ homes and MOJO but didn’t find anything there,then was put off by the delay. So far we have found gj Gardner has the oakford design(depending on price of course)which is a h shaped We have talked to another builder who is looking at a design for us. Can I ask who you are building with? Re: Pre Construction Costs 7Jan 05, 2021 7:27 am have you looked at fowler homes? They can custom build their designs also? https://www.fowlerhomes.com.au/ Re: Pre Construction Costs 8Jan 05, 2021 7:49 am Fore20 have you looked at fowler homes? They can custom build their designs also? https://www.fowlerhomes.com.au/ They only do the Sydney area by the looks of it .We are in the hunter valley Re: Pre Construction Costs 9Jan 05, 2021 2:18 pm 123heyitsme gogo65 We are building (or have nearly built) a U shaped home, not so much an internal courtyard, we have a pool in the U shape, ours is a custom design, i don’t know of any MJ homes that have a U shaped design, what are you looking at? We looked at the hermitage grand but opted for a full custom design Looked at the larger builders in our area due to the steel frame and extras packages -MJ homes and MOJO but didn’t find anything there,then was put off by the delay. So far we have found gj Gardner has the oakford design(depending on price of course)which is a h shaped We have talked to another builder who is looking at a design for us. Can I ask who you are building with? We are building with a small builder, in Glenorie, I’m happy to PM you his details. Like ⋅ Add a comment ⋅ Pin to Ideaboard ⋅ Like ⋅ Add a comment ⋅ Pin to Ideaboard ⋅ Like ⋅ Add a comment ⋅ Pin to Ideaboard ⋅ The fastest thing a builder will do is bank your cheque, those systems work perfectly with lightning speed, everything else is slow burn. Just the way it is. 1 8711 We've had the offer of a short term tenant whilst waiting for CDC/DA home approval and demolition for our knock down rebuild. It would achieve a pretty low rent as it's… 0 13759 Just to makea point about this, an approach that some people have found sucessful in negotiating these rises down, Is to provide some workings to the builder, specifying… 4 81730 |