Aaron Whybrow explains two ways to fund finishing touches after construction. You can request a post-construction valuation to top up your mortgage, or take a personal loan and consolidate it into your home loan later. Either way, you don't have to leave the deck unpainted or the driveway unfinished.
Hey, it's Aaron from Diagnostics and Finance. What do you do when you need more money post construction? Let's say you've bought your land and you've built your building and in the building contract there was a specific type of decking or flooring or a particular grass you wanted or colour on your concrete driveway and that builder didn't have it. What do you do? We can get the loan done. There are some banks that don't need the driveway done and there's some banks that don't need the landscaping done to get it all approved. And then you get to the end and your best made plans for the deposit and purchase of those items has been removed. Well, what we can do is we can go back to the bank that you're with with the construction. Now that it's fully done, we can do a big bank valuation on it and we can look to top up your home loan to be able to get that extra money to finish off your home. So that's one way. The other way is that we can go down the path of say, a personal loan to be able to do it and then as that's finished, then we can look at reconstructing your finances to bring your headspace into check so that you only have your home loan that you're paying off and all the things that were related to your home loan are in that home loan. So if you have some items in your construction that didn't get done and the best made plans to be able to pay for them after the construction has been completed, we have some options for you. So reach out, put your comment below and we look forward to speaking to you soon if you need them done. There's some ways to do it so especially with the same lender you've got or with another lender, depending on your circumstances. Hey, it's Aaron Diagnostic Finance and talk to you soon.
