Construction Loans

Building on a new home or buying off the plan? We’re experts in construction loans.”

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Anyone who’s built a new home will tell you it’s no walk in the park. With the right guidance though, you’ll be enjoying your dream home before you know it. With 13,113 homes and counting built in Victoria, consider Loan Gallery Finance your building construction loan experts.

Standard home loans see you receiving your loan amount all at once. As construction loans are project based, you’ll receive loan amounts in steps throughout the construction phase, which brings about its own challenges. Our team works alongside you to manage this often complex process.

Buying off the plan can be beneficial but it can also be fraught with danger. Our brokers help you to avoid some of the most common pitfalls.

Five things to consider when building a new home.

Your need for speed

Buying off the plan maximises your time as it gives you at least 12 months, sometimes longer, to settle. Savvy buyers then use this time to save their money and reduce the total borrowing amount.

A new home, hassle free

Building a new home from scratch isn’t easy. Buying off the plan means you won’t get to design everything but you’re likely to have the flexibility of organising some customisations on finishes and fixtures. As always, double check your contract to avoid any additional costs or nasty surprises.

First home buyer incentives

First home buyers are entitled to various incentives, which may add to the appeal of buying off the plan. For the most up-to-date information, see your local state or territory website for details about grants and exemptions. You can also research your eligibility for stamp duty concessions on new properties at

Incentives for Investors

Off the plan apartments are often targeted towards investors because of the many tax benefits on offer with depreciation on new properties and rental guarantees. It’s important to remember that tax savings vary depending on individual circumstances but generally speaking, the newer the property, the higher the depreciation allowance for the building and fixtures.

Investors may also be offered attractive rental guarantees for a limited period. Always do your homework on rental returns on similar properties in the area before accepting a developer’s terms and be wary of over-inflated rental guarantees. If you are an investor, make sure you have the option to manage the property yourself or with your preferred property manager from the time the property is yours.

Choose the developer wisely

Always opt for reputable builders and do your homework on their previous projects. Do they use quality contractors and deliver projects on time? Visit a few of their projects in person to see the finished product.

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Get the facts on the loan that best suits your needs today.