All Topics / Value Adding / Staged construction loans? Duplex costs?

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  • Profile photo of Jen1Jen1
    Member
    @jen1
    Join Date: 2005
    Post Count: 26
    November 10, 2005 - 12:20 pm

    Hi,
    Just wondering if anyone knows whether it is possible to get staged construction loans to build a duplex to avoid some interest?
    Also, does anyone know how much I should expect to pay to get a 2x2BR (1 bath, 1LUG) duplex built?
    I am considering my first development deal (in country NSW) and would love any advice our experience developers could give me.
    Cheers,
    Jenny

    Profile photo of MortgagemanMortgageman
    Participant
    @mortgageman
    Join Date: 2004
    Post Count: 164
    November 10, 2005 - 1:29 pm

    Hi Jenny,

    In answer to your first question, yes, construction loans by their nature are generally paid in stages, typically around 5 installments, but can go up to 7. I will leave the second question to those with more developing experience.

    Kind Regards,

    Cameron Perry
    Finance Consultant
    F.R. Perry & Associates
    Level 13, 30 Collins St
    Melbourne VIC 3000
    Ph (03) 9662 1999
    Fax (03) 9662 2044

Viewing 2 posts - 1 through 2 (of 2 total)

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