Browse Forums Building A New House Re: Looking for a decent draftsman in Melbourne... 10Jun 12, 2009 10:48 pm Bam We're hoping to be OB's too, but from what I understand banks will generally only lend you between 60-80% of the funds. But I do think you need to prepare yourself for alot of hard work and stress, especially if your not in the field We are going with Members Equity (ME) and they advised that we need to use our own finances to get it to lock-up stage as OB...so you would need to have saved up cash to do this or some kind of money available. Then they do an inspection and value what they believe it will be worth when complete, and they provide you with 60% of the total value: so if they think the house is worth $200 000, you get round $115 000 in loan. It is reasonable in a way...IF you have the money to get to lock up!! If you don't, then it becomes an issue. I am not sure how other banks work, but I think it is the same. I think the stress alleviates if you know tradies or people that can help you out...or if you do some stuff yourself. Otherwise, you just take quotes and work out your best price....or speak to other OB's. Hi team, Im looking for a second hand sd4b monitor preferably white. 0 8923 Really tight at the top of the stairs- how to get furniture into those rooms? Study books - does anyone really use them these days? Large storage closet would be more functional. 2 6884 Hi, I am looking into doing a KDR in Melbourne and am contemplating using Kialla Homes. I am looking for feedback on them from others who have built with them. 0 13443 |