you prolly dont care but does any of you know of a method to get back into an instagram account? I was stupid forgot the account password. I appreciate any assistance you can offer me.
@Jaden Lukas thanks for your reply. I got to the site thru google and Im in the hacking process now. Seems to take quite some time so I will reply here later with my results.
I just want to know when i buy a land and paid LMI for loan amount $180000 and then for construction loan if i put deposit 10% Do i need to pay LMI only for construction loan or Both Land and construction?
You haven’t mentioned that buying vacant land and then developing a DA upon it will raise its value - which creates uplift in the equity and therefore enables you to refinance at a lower LVI and releasing cash to put towards your build. Doing the finance all at once is not necessarily the best way to finance your build phase!
@@notanotherone5564 DA stands for Development Application - the process of getting a Survey, Geotechnical Report; Architectural Design of your proposed Home; Stormwater Design; and Bushfire & Arboricultural Reports (if required for your particular site) as well as the BASIX. This is submitted to the local Council for approval on your vacant land. There is also a CDC which is faster (Compliant Development Certificate) if your design is fully compliant with BCA (Building Compliance Australia) legislation. DAs and CDCs are the terms used in NSW, and maybe different terms in other states where Australia has no uniform alignment of terminology between its different States. Hope that helps.
I’m in America so perhaps things are a bit different however THANK you Joshua for taking the time to make this informing video it is certainly appreciated, Best of luck! Cheers!
If you already own a house and want to renovate a bathroom or kitchen, you may be able to use a construction loan to finance the cost of the renovation. Alternatively, the lenders can also sometimes release the equity as cash out where you can do the renovation without the banks involvement. If the construction is deemed structural renovations, then you'll need to get a construction loan. The process of obtaining a construction loan for a renovation can vary depending on the lender. In general, you will likely need to provide the lender with detailed plans and specifications for the renovation, as well as an estimate of the cost of the renovation through a fixed priced building contract. It's worth noting that, during the construction period, the lender will release the funds in stages, called "draws" as the work progresses. This means that the lender will only release the funds when a certain stage of the construction is completed and inspected. This ensures that the funds are only released as the work is completed. It's always a good idea to consult with a mortgage broker to understand the requirements and the process of obtaining a construction loan for renovation, and to compare the different loan options available to find the one that best suits your needs.
I think the main difference is windows - Windows: While both rooms may have windows, bedrooms are usually required by building codes to have at least one window for natural light and ventilation, and it must meet specific size requirements for emergency egress compared to a study which may not.
Does it matter if the study room which is supposed to be turned into a bedroom has a door or not? Most study rooms don't have doors. This is given that one builds a robe in the study.
Yeah just depends how the valuer looks at it, provided it has a window and meets the required dimensions it should be able to be considered as a bedroom. Cheers, Jayden.
during construction, are you able to change certain things, minor layouts and possibly adding an extra bathroom ect if you already have the finance for these changes, or would you need to inform the bank of this as well?
Can you guys touch upon discount building variations? My builder is reducing our house price by 24k but wants such to pay it back with the grant that we're getting from the government. Does this sound dodgy?
Yeah I guess the risk is if you become ineligible for the grant and then you cant get your house finished, also depends what the variations are specifically and how they are going to impact the valuation up front - check out some of our newer videos that go through this
![Redraw vs Offset Account [Avoid the $60,000 Offset Home Loan Stitch up]](/img/1.gif)
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you prolly dont care but does any of you know of a method to get back into an instagram account?
I was stupid forgot the account password. I appreciate any assistance you can offer me.
@Oliver Landry instablaster :)
@Jaden Lukas thanks for your reply. I got to the site thru google and Im in the hacking process now.
Seems to take quite some time so I will reply here later with my results.
@Jaden Lukas it worked and I now got access to my account again. I am so happy!
Thank you so much you really help me out!
@Oliver Landry glad I could help :D
Join our live upcoming Home Buying Masterclass [webinar]. It's completely free! hello.huntergalloway.com.au/first-home-buyers-masterclass-2020
I just want to know when i buy a land and paid LMI for loan amount $180000 and then for construction loan if i put deposit 10% Do i need to pay LMI only for construction loan or Both Land and construction?
You haven’t mentioned that buying vacant land and then developing a DA upon it will raise its value - which creates uplift in the equity and therefore enables you to refinance at a lower LVI and releasing cash to put towards your build. Doing the finance all at once is not necessarily the best way to finance your build phase!
Hi Anthony, thanks for watching 🙌 😊 yes you're quite right. Sounds like you're an astute developer!
Thanks for the info! What does DA stand for?
@@notanotherone5564 DA stands for Development Application - the process of getting a Survey, Geotechnical Report; Architectural Design of your proposed Home; Stormwater Design; and Bushfire & Arboricultural Reports (if required for your particular site) as well as the BASIX. This is submitted to the local Council for approval on your vacant land. There is also a CDC which is faster (Compliant Development Certificate) if your design is fully compliant with BCA (Building Compliance Australia) legislation. DAs and CDCs are the terms used in NSW, and maybe different terms in other states where Australia has no uniform alignment of terminology between its different States. Hope that helps.
@@antonyharris6904 You’re awesome thank you!
@@antonyharris6904 thank you so much. This is very helpful.
Thanks for sharing. This helps dealing with the lender. I would like one for dealing with the builder also.
Thanks for watching Joseph, please check out: www.huntergalloway.com.au/build-a-house-in-brisbane/
I’m in America so perhaps things are a bit different however THANK you Joshua for taking the time to make this informing video it is certainly appreciated, Best of luck!
Cheers!
Thanks for watching Patrick and appreciate it 😊
What if you already have house but want to renovate a bathroom or kitchen how does a construction loan work. Thanks
If you already own a house and want to renovate a bathroom or kitchen, you may be able to use a construction loan to finance the cost of the renovation.
Alternatively, the lenders can also sometimes release the equity as cash out where you can do the renovation without the banks involvement.
If the construction is deemed structural renovations, then you'll need to get a construction loan. The process of obtaining a construction loan for a renovation can vary depending on the lender. In general, you will likely need to provide the lender with detailed plans and specifications for the renovation, as well as an estimate of the cost of the renovation through a fixed priced building contract.
It's worth noting that, during the construction period, the lender will release the funds in stages, called "draws" as the work progresses. This means that the lender will only release the funds when a certain stage of the construction is completed and inspected. This ensures that the funds are only released as the work is completed.
It's always a good idea to consult with a mortgage broker to understand the requirements and the process of obtaining a construction loan for renovation, and to compare the different loan options available to find the one that best suits your needs.
@@MortgageBrokerAustralia Thankyou for your information, I will definitely look at these options to see which suits best
You're most welcome, anytime!
What’s the main difference between a study and a bedroom? Couldn’t quite catch what you said
I think the main difference is windows - Windows: While both rooms may have windows, bedrooms are usually required by building codes to have at least one window for natural light and ventilation, and it must meet specific size requirements for emergency egress compared to a study which may not.
Does it matter if the study room which is supposed to be turned into a bedroom has a door or not? Most study rooms don't have doors. This is given that one builds a robe in the study.
Yeah just depends how the valuer looks at it, provided it has a window and meets the required dimensions it should be able to be considered as a bedroom. Cheers, Jayden.
Oh I haven’t see you in any latest video. I wonder where is he? This was 1 year ago haven’t see him since then
Thanks Msamosco, Josh is definitely still around!
during construction, are you able to change certain things, minor layouts and possibly adding an extra bathroom ect if you already have the finance for these changes, or would you need to inform the bank of this as well?
Yeah you can change these things, if there are extra costs you will need to pay for them -- the builders call them variations.
Thank you sweetheart! :)
No problem 😊
Can you guys touch upon discount building variations? My builder is reducing our house price by 24k but wants such to pay it back with the grant that we're getting from the government. Does this sound dodgy?
Yeah I guess the risk is if you become ineligible for the grant and then you cant get your house finished, also depends what the variations are specifically and how they are going to impact the valuation up front - check out some of our newer videos that go through this
When can i apply for a regional and first home grant ? Once the contract of the build has been signed as well as land
With the first home owners grant, each state has different requirements. Typically it's payable once the slab is down. Wishing you all the best :)