Before you go any further, it’s important to establish your budget. When working out your budget you’ll need to factor in extra costs such as conveyancing, taxes, duties and fees.
Contact your bank or a Mortgage Broker to find the right type of loan to suit your needs. Obtaining a pre-approval will make things a lot easier once you find your preferred lot of land. Rebates or grants may also be available, and more information on these can be found at www.sro.vic.gov.au . It is important your lender explains the loan process to you thoroughly and how it relates to your build before you sign up for the loan.