Comment on Discussion Thread đŠ Sunday 15 June 2025
LowExperience2368@aussie.zone â¨2⊠â¨months⊠agoAny good advice?
Comment on Discussion Thread đŠ Sunday 15 June 2025
LowExperience2368@aussie.zone â¨2⊠â¨months⊠agoAny good advice?
Gibsonhasafluffybutt@aussie.zone â¨2⊠â¨months⊠ago
Well a couple of things:
I didnât know I could get enough from the bank on my current salary
You can reserve land in new builds and not have to pay for it (through a loan) for a couple of years
The 2 builders he gave me the details of can do the mortgage broking as well
Explained that itâs possible to pay to have your credit record scrubbed of defaults
TheWitchofThornbury@aussie.zone â¨2⊠â¨months⊠ago
Please be very careful of those all-in-one build/finance packages - they donât have a good success record. Please check out the quality of their previous builds too. And any past bankruptcy/business failures too for the builders. Phoenixing a building company to cover up past defaults is all too common. Get some advice from your accountant BEFORE you sign anything, and be very clear about your rights if the builders go broke or otherwise default before completion. Or vanish after completion leaving serious structural repairs that need to be done to make the place liveable. Please.
Too many people get caught out by an industry that for a very long time now has depended on a kind of reverse ponzi scheme. It works fine for a bit, but any tiny change in for example materials supply can bring the whole thing crashing down. And with the world in such turmoil and supply chains in such chaos, it seems very difficult to predict what will happen over the next few years.
Gibsonhasafluffybutt@aussie.zone â¨2⊠â¨months⊠ago
Thank you â¤ď¸
Iâve saved this comment.
LowExperience2368@aussie.zone â¨2⊠â¨months⊠ago
Yeah I feel like theyâre known for doing shit builds. Thatâs why Iâd rather buy a pre-existing place.
LowExperience2368@aussie.zone â¨2⊠â¨months⊠ago
Thatâs great! Hopefully the builders arenât those shonky ones from those building inspection videos.
Gibsonhasafluffybutt@aussie.zone â¨2⊠â¨months⊠ago
That was my first thought too lol
Regardless, itâs good to know the process.