Browse Forums Home Finance 1 Jun 05, 2013 9:36 pm We're planning on buying land and putting a flat pack home on it (hiring a builder to install it) but what I'm reading about financing for this type of thing is making me sad Apparently banks won't lend you any money until the house is complete, so you need to fund the cost of the kit home out of your own funds first. We can't do that. Land in our area is around 150K and we want to spend around 150K on a very basic 3 bedroom house. The kit itself is 59K plus 12K for a steel flooring system but we won't take their kitchen or bathroom so it should be a bit cheaper. It takes a week to erect it and my husband and his dad will also help so I expect that part of it to be fairly quick. We are DIYrs and we are happy to have the house in a basic state and then make improvements on it over time. We don't want a huge mortgage. Are there ways to finance flat pack or modular homes without first paying for the kit yourself? Someone mentioned seeing if a builder would include the cost of the kit in the contract so he essentially pays for it and the bank pays him in stages. im not sure if many builders would be keen on this though. I'm starting to despair a little. We are seeing a broker in a couple of weeks and we still have another 6-12 months of saving to go, but I'd like to at least know that this is a possibility for us in the future. Getting into a house seems impossible sometimes. I would suggest you simply go and talk to council about your proposal, most councils are getting onboard with ancillary dwellings. There is no benefit in keeping it… 1 4123 I think I know the answer but just checking to see if anyone has had experience with it. I want to build a small 20 square metre retreat in my backyard, it will have a… 0 13906 Any advice on how to ensure the kit home granny flat that im thinking of buying will get council approval. The kit home companys wont release plans without a deposit and… 0 7222 |