Yes Terry, I am eligible (post 55) to withdraw all or parts of my super, if I do not intent to work. (Have spoken with super, have the form in front of me.)

The land is paid for. The money I withdraw from super will provide the required cashflow to build; then sell the existing house and move into the new one.

Yes, thanks, this is one of the latest ideas

Will be sorting this out next week.

As it currently stands (and I do not see this changing) no serviceability = no loan! Fulls stop. LVR means nothing, any rental ideas won't work either… two options remain:

1. get a job and earn some dollars

2. put the house on the market and sell it

I will try 1. for a couple of months before cash flow becomes a problem, then 2. will happen.

Again, thanks for all your feedback and replies!

Thank you all for the warm welcome… feel home already

I probably need to be more precise / explicit:

I live in a home worth 600k+

The loan is paid off (much earlier than required, hence, I have got 100k to redraw)

I will redraw the 100k to pay for the new land I bought; 30k come from savings.

I need 100k to build a new house on the new land.

Once the new house has been completed to move in, I sell the 600k home, and repay the 100k redrawn plus the 100k I needed as a loan to build.

______

Now, there was a question on rental income. The rent could be $450+ per week (have now checked). But, if I have to move out to rent out the place, then I rather move into a temp accommodation to be plonked onto the land and sell the place now… which I see as the least risky and most cost effective way, if finance cannot be obtained.

Hope this helps for further thinking… thanks.