The Knock and Rebuild.

For these home owners, their home location was perfect - a big block close to town.  The original house was a 2BR Weatherboard home that needed considerable renovations.  The owners had lived in the home for a number of years, meaning equity had built in their property by paying down their home loan and the land value simultaneously increasing.

The decision to knock down their old home and build new was an easy decision.  The land value and cost of rebuilding provided an end market valuation that was acceptable within their bank’s Lending Value Provisions.

A Construction Home Loan was provided whilst the home was being built and later converted to an Owner-Occupied Home Loan upon completion.

Thinking of a similar scenario? Give TM Finance Group a call today.