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House Affordability In Australia Easier Now With The Owner Builder System
With escalating Australian real estate prices and rising interest rates, housing affordability is at a critically low level right across Australia. However, it will get a lot easier with the introduction of a new owner builder system in Australia.
For approximately 20 percent of Australians, this system is the only way they have been able to enter the home-owning market. Building your own house can be a way of getting exactly the home you want at a cheaper price than you could by buying it outright. With the Owner Builder System, it enables you to save up to 30 per cent off the cost of even the cheapest fixed-price builder’s quote. And you get exactly the same house.
Intellichoice is a Brisbane-based company that currently provides this service for home builders in Queensland. Darin Hindmarsh of Intellichoice, says that “the Home Building System is a mortgage-insurer approved system that provides an end-to-end solution for people who want to build their dream home.”
The Owner Builder System makes home building easy with a hold-your-hand service through the whole process. It offers access to trades, national suppliers with trade accounts and discounts and 7 day access to professional telephone support from a builder. During the course of construction, the system also provides additional support including, purchase order payment control, provision of state based building contracts, quality inspections of workmanship, construction completion guarantee to the lender and mortgage insurer, advice on occupational health and safety, discounted construction and public liability insurance plus the ongoing access to professional advice.
Is becoming an owner builder really a viable solution for the everyday family? Darin uses a real life experience to explain.
‘‘The Melios family had three quotes to build their dream home. They then came across the Home Building System, and in doing so saved themselves $64,000 from their builder’s quote. They used the extra cash to furnish their home and reduce their mortgage.’’
The savings you make through the Owner Builder System can be put back into home improvements or kept aside for a rainy day. Darin states that owner builders can save up to 30 percent off the cheapest builders quote. Even on a modest house this can result in savings in excess of $60,000. So with $60,000 less cost and therefore $60,000 less borrowings, the system can save the home buyer $412 per month in repayments off an additional $160,000 over the term of the loan.
In addition to the services and support offered through the owner builder system, our mortgage brokers can also assist with owner builder finance of 80% of the total market value of the completed house, instead of the usual 50% of hard costs that most lenders would insist on. Visit http://www.intellichoice.com.au/
Additional information about the owner builder system or owner builder finance in Australia is available by calling +61 7 3624 1900 or visiting http://www.intellichoice.com.au.
With over 25 years experience in the financial services industry, the mortgage brokers at Intellichoice aim to provide all Australians with the opportunity to participate in building their wealth through home ownership and other investments.
Our Australian mortgage brokers offer clients a tailored financial product that suits their specific needs. We are a one-stop-shop for all a client’s finance needs, by offering a variety of products and services, including home loans, owner builder finance, invoice finance, business finance, insurance, financial planning, retirement planning and wealth creation strategies.
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Our mortgage brokers and financial planners in Australia can help you make it easy to buy or build a house, start a business, make smart investment decisions or even if you are simply wanting to get control of your financial situation.