Planning a renovation?
👷🏼♀️ So many clients want to renovate at the moment! (Lockdown effect?) However, banks are very particular about the building contracts and the valuations. A lot of builders want to do a cost-plus building contract. But most lenders, when the project costs less than $1.000.000, do not like financing them as the cost plus contracts tend to go over budget and the bank doesn't want that to occur.
𝙁𝙞𝙭𝙚𝙙-𝙥𝙧𝙞𝙘𝙚 𝙘𝙤𝙣𝙩𝙧𝙖𝙘𝙩𝙨 𝙖𝙧𝙚 𝙖 𝙢𝙪𝙘𝙝 𝙨𝙖𝙛𝙚𝙧 𝙬𝙖𝙮 𝙛𝙤𝙧 𝙘𝙡𝙞𝙚𝙣𝙩𝙨 𝙩𝙤 𝙪𝙣𝙙𝙚𝙧𝙩𝙖𝙠𝙚 𝙖 𝙢𝙖𝙟𝙤𝙧 𝙧𝙚𝙣𝙤𝙫𝙖𝙩𝙞𝙤𝙣 𝙖𝙣𝙙 𝙩𝙝𝙚𝙧𝙚 𝙞𝙨 𝙖 𝙡𝙤𝙩 𝙤𝙛 𝙬𝙤𝙧𝙠 𝙩𝙝𝙖𝙩 𝙬𝙚 𝙥𝙪𝙩 𝙞𝙣𝙩𝙤 𝙢𝙖𝙠𝙞𝙣𝙜 𝙨𝙪𝙧𝙚 𝙚𝙫𝙚𝙧𝙮𝙩𝙝𝙞𝙣𝙜 𝙧𝙪𝙣𝙨 𝙨𝙢𝙤𝙤𝙩𝙝𝙡𝙮.