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(Dean) Another tip I would like to give you, which I find very important, that no one is actually preparing for that’s reached out of late, is finance. What I strongly suggest to everyone to do is have a talk to their bank and find out what their borrowing capacity is. Once they’ve given that number, have a look at the serviceability. And then you can start to appreciate what impact that’s going to have on your future living. Now, if you choose to have children in the near future or down the track, or you’re planning on retiring, that needs to be considered.
The reason I say this– I’m still getting plans coming through where people haven’t got a clear number on what the build value’s going to be, and yet they still don’t have a clear value on what they can actually borrow. And as I’ve mentioned in prior posts, this is tens of thousands of dollars that people have outlaid, and they don’t actually know how much they can borrow and what the serviceability will be. And then it’s come down to this- money is spent, and unfortunately, the job isn’t going to come to fruition. And people are very disappointed and looking at having to spend further money to reduce the scale of the project.
So please keep that in mind if you are thinking of building in the near future. If you’d like any advice on your custom home, home extension or development project, give me a call, send an email. I’d be more than happy to talk to you. I’m Dean from Hylton Constructions, your local builder. I look forward to hearing from you shortly.