Owner Builder Construction Loans

General construction work for buildings

Owner Builder Construction Loans

Homebuilder Advocate

You are considered an owner-builder if you choose to take on the responsibility of building your own home. If you’re looking to take on this role, it’s important that you understand the process of getting an owner-builder construction loan and how it differs from getting a loan through a registered builder.

To get an owner-builder loan, you must submit detailed building plans to your local council and acquire all the necessary building permits. This includes development applications (DA) and construction certificates (CC). Afterwards, you must also contact your local government to receive an owner-builder licence.

Since owner-builders generally aren’t as experienced as registered builders, the chances of cost overruns and other complications can be high. Due to this, lenders are generally hesitant to lend at a high loan-to-value ratio (LVR).

Therefore, it helps to hire experienced consultants to help you with your owner-builder construction loan.

Homebuilder Advocate can help you with owner-builder cost estimations, real estate selections and land negotiations. Our team can also guide through the process of acquiring owner-builder permits from the Victorian government.

If you’re wanting to learn more about how to become an owner-builder in Victoria, don’t hesitate to contact us.

Owner Builder Construction Loans