All Topics / Help Needed! / Construction Loans? What can they include?

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  • Profile photo of BenBen
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    @albanga
    Join Date: 2014
    Post Count: 54

    Hi All,
    I was hoping someone might be able to shed some light on what construction loans can include?
    As i have said in a number of other posts I have finally got council approved plans and permits and am ready to start shopping these around to builders. I have a budget in mind but that includes a few things outside of just the construction and I had not thought about it until now if lenders would include these in my construction loan.

    What I mean by this is I need to loan enough money to cover:
    * Construction of the dwelling
    * All costs associated with the subdivision. This will include legal, council, utility connections.etc.
    * Externals such as fences, driveways, landscaping
    *I was also hoping to loan additional funds to use on the maintenance of the existing dwelling to ensure it does not affect the sale of the rear dwelling. What I mean by this is the existing dwelling is a 1950s ugly brick home that I want to closely align with the finished back property. This would include new front brick rendered fence, rendering the home, new timber front decking and landscaping.

    Thanks in advance

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