Morning
We are looking at buying a vacant block for around 130k
Then depending on finance doing a duplex dev
We would be using a kit home built by a builder so total costs will be around 270
So all up 400k
What is the best structure for this loan (we have enough for 20% deposit)
Would it be a bad idea to just buy the vacant land first and then get a construction loan later on - does it affect serviceability doing it in two loans rather than one?
Also how do you make an offer on a vacant block whilst trying to get a DA - what buying terms do you use and what process do you go through
Cheers
We are looking at buying a vacant block for around 130k
Then depending on finance doing a duplex dev
We would be using a kit home built by a builder so total costs will be around 270
So all up 400k
What is the best structure for this loan (we have enough for 20% deposit)
Would it be a bad idea to just buy the vacant land first and then get a construction loan later on - does it affect serviceability doing it in two loans rather than one?
Also how do you make an offer on a vacant block whilst trying to get a DA - what buying terms do you use and what process do you go through
Cheers