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Owner Builder Home Loans
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What Is an Owner Builder Home Loan?
As an owner builder, you plan to build your own home on your own land. Perhaps you have a unique vision for the property. Maybe you’d like to save 15-20% on the material and labour costs. These are both advantages to becoming an owner builder. However, because of the construction involved, the structure of an owner builder loan is different to a standard home loan and follows a different process.
With an owner builder loan, you typically make an interest-only repayment throughout the construction phase rather than a principal + interest repayment. This reduces your outgoing expenses until the home is liveable. It also means lenders see this as a riskier loan, so there aren’t as many financing options available. Finding these options is our specialty.
Is becoming an owner builder right for you?
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Why Become an Owner Builder?
One of the greatest benefits of becoming an owner builder is the savings! When you:
- subtract the 10-15% margin on all the builders’ materials; plus
- subtract the 20-30% added to all the tradies’ hours of labour,
you save an average of 15-20% on your home build. That’s tens of thousands of dollars!
Another benefit is seeing your plans come to life. You get the home of your dreams in the location you desire—whether it’s your first home, planning for a family or downsizing in retirement, you control every aspect of development. No matter what your scenario, we guide you through the entire lending process.
Curious about lending possibilities?
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How Can I Get an Owner Builder Loan?
We start by getting to know you: your project, location, timeline and budget. With a full understanding of your vision, our experienced team clearly identifies the merits of your project so that see reduced risk. From council approvals to cost estimates, we know exactly what the best owner builder lenders require to get your loan approved.
We work through scenarios with our lenders and only put in an application when experience tells us it’s likely to get approved. With the right lender on board, wel gather all the details and evidence we need to lodge a full application. We answer all of their questions so you don’t have to.
Have questions about the process?
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WE ARE TRUSTWORTHY
Why Partner with Intellichoice?
We’ve been sourcing owner builder loans for more than 20 years—for people just like you. With hundreds of loans completed, you have the advantage of our experience working across all types of lenders and application requirements. We manage the process to give you a smooth and simplified experience.
- Don’t waste weeks or months with other lenders or brokers. We do all the legwork to get you the lowest interest rate and best features.
- Minimise your risk of rejection. We advocate
on behalf of your project, positioning you
for success. - Get the best investment outcomes. We
are able to source up to 75% loan-to-value
ratio (LVR). - Reduce your stress. We provide straightforward communication between you and your lender to make the process transparent and simple.
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Looking for More Advice?
As you begin thinking about securing your owner builder loan, here are some insights to help you make the most informed decisions for your project.
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Be objective about your market valuation.
Studies show that we tend to overvalue things we build ourselves. This could be…
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Use an experienced project manager.
Building a home requires specialist project management skills. The more experienced…
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Don’t underestimate your expenses.
Especially if this is your first home build, the number of expenses may surprise…
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Spend time on a realistic budget.
It used to be the case that you could get a quote and “add another zero at the end” to be close to…
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Time management isn’t about saving time.
Understanding the sequence of events when building your home is imperative for staying on…
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Training is available for owner builders.
To increase your chances for success in your construction projects as an owner builder, some states…
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Don’t start your project without insurance.
For your peace of mind, Intellichoice Finance has partnered with Allrisk Insurance, the country’s…