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Your home may be one of the most important purchases you will ever make.
It is a big decision and one that may have a long term impact on your financial strategy.
The challenge for an owner builder is to demonstrate to the lender the "intrinsic" value you bring to your project. Intellichoice has developed a unique approach to solving this dilemma. We work collaboratively with you to demonstrate the optimal end market value of your property, which is the key to maximising your borrowing for your construction project. Through this approach, Intellichoice has a track record of obtaining lending at 80% of land value and 100% of construction costs, based on the end market value.
If you have already commenced your "finance" journey you will have identified there are very few financiers within Australia who provide owner builder loans. Owner builder lending makes up less than one percent of all loans. If you approach one of these lenders it can be difficult to find an "expert" within the institution who can guide you through the financial aspects of your owner builder construction project.
This gap in the mortgage market is a legacy of lender caution created by owner builder projects not being completed within budget and within reasonable timeframes. Hence a well planned and executed owner build has a huge potential to create wealth.
Over the many years that Intellichoice has been delivering lending solutions for owner builders, we have identified a myriad of reasons you would elect to owner build encompassing:
· Saving significant amounts of money
· Having control over the quality of the build
· Getting a larger home for the price of a smaller one
· Making use of your project management skills
· Making use of your trade
· Getting to select the trades' people who work on your home
· Being able to draw on the skills of your friends and family
· The satisfaction of completing your project
Whatever your motivation, at Intellichoice we appreciate an owner builder will end up with a home for a significantly reduced price and this dovetails into a lower mortgage with reduced monthly repayments and increased equity in your home.
As an owner builder you may well be on an extreme learning curve around the construction and management aspects of your project. Having to concurrently invest enormous amounts of time in researching and understanding owner builder finance can be a distraction diverting your attention away from the "passion" of your project
At Intellichoice we have invested heavily in understanding the finance space for owner builders and our experience is much larger than words on a page. We see our role as being more than sourcing an owner builder loan for you; it is ensuring you understand all things related to your loan. At Intellichoice we have the answers to the