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Borrowing to Build

by nat stevens

What I need to know about getting a loan to build – A checklist

You made it!

HIGH FIVE! You've just completed Module 1 that shares all the insider tips to avoid financial mistakes and have more money to spend on your home.

Taking this Module has put you one step ahead and should prevent you from feeling intimidated by the process of borrowing money to build. You’ll feel less stressed and more prepared for what’s ahead because you’ll have the insights you need to make the right decisions.

Borrowing to build Checklist


Research the Australian First Home Owners Grants and Incentives

Learn pros & cons of Lender Mortgage Insurance

Learn about Guarantor Loans

Learn about Parent Assist Loans

Learn about the First Home Super Saver Scheme


Learn about different types of lenders

Learn about construction loans

Prepare application documents

Apply for pre-approval


  1. I know how to save up to $10,000+ interest while my home is being built.

  2. I know how to access assistance to get into home ownership sooner.

  3. I'm receiving all government grants and incentives I 'm entitled to.

  4. I saved stamp duty by choosing to build rather than buy.

  5. I have a budget that I have to build to.

  6. I've applied for finance with different lenders to get the best deal for my circumstances.


  1. Research grants and concessions to discover what you are eligible for by visiting https://www.firsthome.gov.au/
  2. Explore preferred types of lenders (bank, broker or credit union).
  3. Apply for pre-approval.
  4. Enquire about building using a construction loan.
  5. If necessary, talk to family, friends and developers about creative pathways for financing your new home.
  6. If you don't think you'll have the full 20% deposit take the time to learn about mortgage lenders insurance.

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This information is of the nature of general comment only, and does not represent professional advice nor should it be substituted for professional advice. Whilst attempts have been made to ensure the accuracy of the information, we don't guarantee it's accuracy.  Any information we provide is not intended to provide specific guidance for particular circumstances and it should not be relied on as the basis for any decision to take action or not take action on any matter which it covers. You should always obtain professional advice before making any decision to purchase property of any kind.  We recommend you seek professional financial advice prior to entering into a contract of any kind.   Build In Oz disclaims all responsibility and liability to any person, arising directly or indirectly from any person taking or not taking action based on the information in this course.  Please refer to our privacy and disclosure statement for further information.