Owner Builder



From: Rukmal Setunge

I bought an IP recently and thinking of Sub dividing it to build a another one at the back. Is it possible for me to become an Owner builder and build the property. Do banks give loans to Owner builders ?.
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Reply: 1
From: Sergey Golovin

Hello every one.

Have not been on the Forum for nearly a months feels like years.


You can become Owner Builder and few people have done it.

I think you have to go the Department Of Fair Trading (?) and pay about $100, get registered and it would be valid for 6 or 7 years. But,.... it will be valid only from the day you have started the project, let say put first lot of bricks or concrete clap, which you have to start within 3-4 month (?). Once you have done that, first lot of bricks, then you can build it as slow or as fast as you whish but during next 6-7 years. And licence it self only issued once every 7 (?) years. So, if you finished your project in let say one year they will not issue you with another licence. You have to wait till 7 (?) years has expired.

You can do it your self (the whole project) or you can give it to the builder to do it for you or (probably the most efficient way) do some of it your self and employ one builder at the time to do other jobs. Let say you probably can paint it by your self but it would be better of to ask someone to fit the windows in the house for you or to do some special jobs which do required special knowledge or licence - pluming, electrical, etc.

If you ask builder to do the whole lot then you do not have much control over it, I think.

But if you ask few people around for quote, let say to lay bricks and nothing else, not much they can do about it, except just to put all the bricks in place.

But I guess you have to be careful with the logistics of it. It might get very messy. And you might end up calling builder to finish it of for you and it might cost you much more then you expected.

Basically check your figures before you proceed with the project.

This topic was on forum few times. Please have look in archives, as well as renovation. It is not exactly same topic but well close enough.

Good luck.

Serge G.
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Reply: 2
From: Victor Mann

hi rukmal

Yes some banks will provide loans to owner builders. Bank west, st george, and Westpac.
However they will only lend to 70-75% of Hard costs.

If you need any more details or need help in application let me know.

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