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Owner Builders

Scope Drafting and Design specailize in helping you, the Owner Builder, build your dream home. This is the page where you will see all the latest information and posts to help you do that. For more information on the list of services we can offer you just click on the For Owner Builders tab. Scope Drafting and Design look forward to helping you build your dream home.

Owner Builder Finance – What You Need To Know.

February 8, 2011 by Leave a Comment

Preparation is the key to being a successful owner builder. This is a common theme of the information you find here on Scope Drafting and Design.

Nowhere is this more important than when you are planning your finances. Here are a few questions to ask yourself to ensure you have your finances sorted:

Owner Builder Finance

Owner Builder Finance



- Can I afford to build the house I am having designed and drafted on the block I want?

- Have I considered all the costs involved so that I can fully finish the project once I start?

- Can I afford the ongoing costs of this home?

- Will my finance arrangements enable me to commence and complete an owner builder project?

Scope Drafting and Design can help you design your home within your budget and guide you to the resources you need to ensure your budget is correct.

In most cases the major factor in determining a budget is your bank or financial institution. This can be a difficult process for owner builders. Why?

Well,  banks are pessimists and always assume the worst. They assume you will fail as an owner builder and will not complete the house.  How does this affect your loan? If you do not make your repayments and the bank forecloses they want an asset to sell. Remember they have factored in that you will not finish your house – and a half finished house is not easy to sell.

This can be overcome in 3 main ways:

  1. Provide other assets as security to cover the building loan
  2. Provide quotes for the work you will be doing from all the trades involved and then have the bank pay out those trades after the work has been done
  3. Pay for the work yourself in stages and then have your house re-valued and refinanced to reflect the new value.(Warning: This last method can adversely affect your credit rating due to the constant finance applications)

Please remember this is general advice and not intended to be financial advice. Please speak to your financial institution for specific information.

Come talk to Scope Drafting and Design to find out how we can help you owner build, or design and construct your dream home or renovation.

Remember we don’t charge to talk and our advice is free, so pick up the phone or drop us an email.

Till Next Time

Nathan Peart

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Latest News and Information for Owner Builders

January 9, 2011 by 1 Comment

Scope Drafting and Design specialize in helping you, the Owner Builder, build your dream home. This is the page where you will see all the latest information and posts to help you do that.

For more information on the list of services Scope Drafting and Design can offer you, just click here: For Owner Builders

Scope Drafting and Design look forward to helping you build your dream home.

Filed Under: Owner Builders Tagged With: , , , , ,

Owner Builders – Would You Do It Again?

November 10, 2010 by Leave a Comment

To start a passionate conversation with someone who has owner built there house all you have to do is ask “Would you do it again?”

In return for this question you will either get a look of horror wash over their face and dialogue about the evils of owner building or you will get a smug smile and look of satisfaction followed by a detailed explanation of why everyone should be an owner builder.

How do you make sure you are in the second camp? How do you make sure your owner builder process is an exciting and productive one?

Here are a few tips on making sure your journey will be an enjoyable one:

Buy the right block of land. When buying your block do it with the end in mind, ensuring you can build the house you want. Some questions to ask are:

Are their restrictive covenants on materials I can use and size of house? If so am I happy to work within this?

Does the block need retaining? Has this been factored into the price?

What kind of houses will be surrounding me?

Get the plans Right. A cheap set of plans can start looking very expensive towards the end of the build when you have to start forking out money to rectify mistakes.

The easiest time to get it right is at the planning stage making sure you get a complete set of plans with all the details for trades to do their job quickly and efficiently, so there are no mistakes and no need to make changes on site.

To this end makes sure the building designer you use is approachable and willing to explain the whole building process and if required able to assist you throughout the building process.

ASK ASK ASK. Despite the sometimes dreaded reputation of people in the building industry the trades I deal with regularly are willing to help the owner builder with the questions throughout the building process. The only way to find an answer is to ask the question. As the saying goes the dumbest question is the one that doesn’t gets asked.

Find Support. Find someone you can question and get feedback from throughout the building process. Whether this is a friend or relative with building experience or your building designer it is handy to have someone who you can turn to ask the questions you can’t find the answers to.

For more information please contact Scope Drafting.

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