There’s nothing quite like building your own home, or even building an investment property. It can be very exciting and rewarding! Getting a construction loan however, isn’t always as much fun. Construction loans tend to be trickier than regular home loans. There are a number of pitfalls to avoid.
If you ask people what they want in a home loan, a good interest rate is probably high on the list. Lenders may use a great interest rate to attract customers. This happens so often, that many people think the interest rate is the most important thing about the loan.
Saving up a deposit for an important step before applying for a home loan. For many people, a deposit represents a lot of hard effort and careful budgeting! So it’s important to use your deposit effectively.