Browse Forums Home Finance 1 Dec 15, 2017 1:02 am Hello, I'm still,in research mode and wondering how one can finance different trades in a new custom build. For example, if I would like Mr Builder to put up the walls, but want Mr Cabinets to do the kitchen and bathroom then Mr floors to do the floors, how do I get this financed under one construction loan? Re: Finance different trades in custom build 2Dec 15, 2017 5:12 am Hi Lychee, The floors outside of contract is very normal - other trades, less so. From the banks perspective if the build contract doesn’t include wall linings or a kitchen - what have they got as security if you’re unable to make your repayments or if the builder folds. The other point is the insurance for the builder basically locks the site down - generally they won’t allow access for other trades, or even yourself. It can be done like this if you go down the owner builder route where you are managing a number of trades - just be mindful there’s a different set of rules and requirements for owner builder including contingency funds and owner builder license. Easier to have the builder include your kitchen guy in his custom build, yes you’ll pay a premium because he has to warrant it, but he may also get a trade discount. Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Finance different trades in custom build 3Dec 15, 2017 10:06 pm thanks Rebecca, that's very helpful. I guess in my mind the kitchen and bathroom and floors are in some ways a design element that I would like to have a very specific look and that I would like the builder to put in. Perhaps I will have to lock my ideas down before the construction loan so that I can have this included in the quote. Re: Finance different trades in custom build 4Dec 15, 2017 10:16 pm Perfect, that’s a great idea. Lock down exactly what you want, visit the suppliers they use & make your selections as early as possible. Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Always get multiple quotes, no matter how reasonable/cheap you think it is. I remember getting a few quotes for a pool fence, roughly around the same price, thinking the… 5 9666 "Losers" "humanity" "off time" "your" "top notch" "love symbol" Sounds like ponzo is done using other people's toilets 36 23836 you were just referred to get advice from your solicitor. This is a legal matter. Separately, why would you use a buyers agent for a house and land package? 3 55259 |