What you pay while you're building your brand new home
Buying land and building a home in NSW follows the following rough schedule and here’s what you can expect to pay as you’re building. (PS we have also formulated a brilliant quick look factsheet you can access from our members only section on the website - just jump into http://www.tworedshoes.com.au/building & click on members only to register for access.)
When you find the block:
Holding deposit to secure the block, either a flat fee – say $1000, or 0.25% of the purchase pric. Once you’ve paid this get the contract over to us and we’ll get full approval in place before you pay anything else.
Balance of the 5% or 10% deposit – and what we call “exchange”, generally 5-10 days after you sign the contract – and not before you have full loan approval!