Budget for build

Before you start building, you should work out your budget for your home.

Here are a few points:

  • Remember 25% of total household income is a safe measure or if you can try and run your household on one person’s income.
  • 20/10 rule! Have 20% deposit and budget to cover for 10% of interest rate in repayments.
  • Build within your means.. so you can still enjoy the little things in life!

Our budget is $450K. So far the land has cost us $157,000 with a $5,000 rebate once we have completed landscaping to the front and fence.

That means we have $293K to spend on the build.

We have some tough decisions to make!