Building a new home is an exciting process, but it can come with unexpected surprises—especially when it comes to building variations. Your builder may have provided an initial quote, but there are often additional costs that arise as you finalize choices for your home. These can include:
While these changes may enhance your home, they can also increase the overall cost of your build. At Bribie Island Lending, we understand that these variations can sometimes catch homeowners off guard, which is why we aim to help you plan for them in advance.
If you’re building in areas like Ipswich, Logan, Caloundra, Redcliffe, Caboolture, or Ningi, we are here to guide you through the process of managing potential variations and ensuring your loan meets your needs.
One of the most important steps in preparing for your home build is ensuring that your loan amount covers not only the builder's quote but also potential variations that may arise throughout the construction process. If we know about these changes in advance, we can work with you to factor them into your loan.
At Bribie Island Lending, we often recommend leaving a little extra room in your loan to cover unforeseen variations. This gives you the flexibility to make adjustments to your home design without worrying about exceeding your loan amount.
If your borrowing power or equity doesn’t allow for a contingency, and you encounter variations partway through the construction process, you may be responsible for covering those additional costs yourself. This can be an unexpected financial burden if you haven’t planned ahead.
To avoid unexpected costs, it’s important to work closely with your builder from the start. Ask them for a detailed breakdown of all potential costs, including finishes, colours, and any customisations you may want. Before committing to the final build contract, ensure that these choices are accounted for.
Additionally, if your builder suggests changes or improvements during construction, be sure to assess whether you have the financial flexibility to accommodate them. Having a contingency in place can save you from any last-minute financial surprises.
At Bribie Island Lending, our goal is to guide you through the home construction process and help ensure your loan is set up to cover both your builder’s initial quote and any potential variations. If you’re planning to build in areas like North Lakes, Narangba, Morayfield, or Toowoomba, we’re here to assist you in making informed financial decisions every step of the way.
Contact Bribie Island Lending – Your Construction Loan Experts
Email Mark at Mark@bribieislandlending.com.au to get started on your journey today!
We are based on the beautiful Queensland coast, between the Sunshine Coast & Brisbane and we offer a complimentary home loan broking service.
Make an appointment today for an obligation-free chat, to talk about what you need and how we can help.
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From 1 October 2025, all first home buyers will be able to purchase with just a 5% deposit under the expanded First Home Buyer Guarantee. There will be no income limits, no caps on places, and higher property price caps.
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