Financing your investment means that you should not be mistaken that the only form of finance comes from banks. Banks tend to be very conservative in their calculations for providing housing loans and that is something they need to address. The lending regime over the past has seen many banks still recovering these losses after many years, much to our children's children expense. These days with a deregulated market there are many new forms of finance, from residential to commercial, but the banks are providing more stable forms of loans. However the self-employed in today's contractual market are struggling to get financed.

Select the right people to help you achieve your chosen goal as it doesn't pay to string people along hoping to get the best deal. Remember that they have been doing this a lot longer than you and will not give you what you're unwilling to pay for. Be upfront and tell them what your outcomes are and how they can be part of your team as you build your portfolio. Remember that a house is an investment not just a shelter. I cannot stress how important this procedure is and to me the only place to start is with the Architect. I really do not understand why people consider the architect a waste of money. Would you build a brick wall without proper foundations? The architect designs, fashions, costs, processes, arbitrates, implements, details, scrutinises, engineers, supervises, all for nearly the same price of having the house repainted because the colour wasn't just right.

Doing the paperwork is very important and you should be aware of the requirements. Details & variations are common grounds for disputes.  Detail the variations, making sure they are agreed and signed before the work gets done and also talk to people and get them onside. Communication is an important tool in making less headaches for your builder and yourself. A common objective is as important as signing paperwork. However though there are unscrupulous people.
       BE AWARE.

Applying for permits requires you as the client to be aware that these things have to be processed and that time and diligence has to be applied to them. Planning laws are designed to protect / share common resources with the general public. The application process requires that those surrounding you are not disadvantaged with your development. Ask for the timeframe for applications before applying and consider that your application may have reason for further investigation. The Building permit is required to confirm any engineering or proper construction methods that the Architect or Builder have applied through the documentation process and/or during the construction phase.

The Authorities are those people we all love to hate as they go about their duty of administering the laws that are placed before them, because they are the final administrator before / during the work. We tend to be impetuous and from a few circumstances we can become cynical of these processes. They have a job to do like everyone else. I'm sure you as a professional wouldn't want to be told how to do your job! This process is being made more transparent through private inspections services.

Shopping is probably the most important part of the whole building process and really should be directed solely at those items we have documented in the specifications commonly known as Prime Cost Items. These items must be realised as being the finishing items in the construction process and should not be taken lightly. Over the years I have heard of disputes from the colour of the paint doesn't match my very small sample swatch to colour of the hinges. If your tradesman/builder is aware of the effort you apply then you have a good chance of solid communication. If not then you may have deliberately mislead them and all I can say is that at some stage you might end up in the courts. The shopping process is your final mark upon the building process and should reflect your tastes and affordability. The first thing most builders look at is the PC items to see how affordable their client is. You can easily counter this by competition in the tender process. I once had a client who boasted to me how he had copied a display home so he could get a cheap house. Needless to say but I didn't build this house. Someone else did and it ended up in court.

Earthwork is when the first sod is turned and although there is no payment in this section this may be your first variation to a contract to compensate for digging. Most normal house sites generally don't have problems as soil tests are carried out at the order of your local council who these days are quite updated on where problem sites belong. Variations to a contract can be misunderstood so it is important to document and agree before starting.

Base is your second payment and covers areas outside of carpentry like the plumbing and electrical rough-ins where necessary, termite protection, concrete slabs, foundations or stumps. Now that you are out of the ground things should begin to progress a little quicker. If there are any issues raise them now.

The Frame is possibly the most impressive section as the bare bones of the house are quickly seen through stud frames. The walls are littered with all that brass and copper or plastic for the plumbing and cables for lighting and power. This is a good stage to consider getting telephone and other services into the house so they may be well situated in the floor plan. However this stage does mislead you into thinking that the house is steaming along, and although it is, once those walls go up and the cladding starts to go on things appear to slow down. This time also seems to make people aware just how small some rooms look and others look way too big. It is a bit of an illusion at this stage because there is little to scale things against. You would be surprised how much you can fit in that space once you scale it against your furniture and not the clear open spaces. With today's lifestyle there is some merit in having a large open space that can be divided up into bedrooms when the family comes along as prefabricated roof trusses allow so much diversity.  If there are any building issues deal with them now.

Lock-up & Fit-out is when you finally get to put the key in the door (legally though the builder holds it till completion). At this stage you may be looking at several variations to your original design (hopefully not) because it is at this stage that the fittings PC items, start to go in bringing the house together. Again another payment at this stage. If there are any issues raise them now.

Completion is when the last tradesman has left, the carpets are being cleaned, the builders rubbish has finally been removed, and the house cleaners are finishing. Now you are ready to move in and to do so you have to pay the builder his final payment. At this stage most people are quite happy but a few are feeling the strains and stresses of the building processes. Delays due to bad weather, design variations and material or labour shortage may just be a few things that have gone wrong. And if you have been storing up all those little items that bugged you from the very beginning you may be feeling justified in withholding payment from the builder. However you should have raised these issues during the stages of the progress payments. He has the key, he believes that he has attended all your wishes, and he is entitled to believe that he should be paid. Remember he still has obligations in regard to his building workmanship and housing guarantee. A side issue at this stage is the ownership of leftover materials. Unless the builder signs over ownership of these materials the client should not assume that these belong to them. To maintain an effective price structure builders will buy in pack lots, charge the client for materials used and use the leftover materials for the next job, thereby reducing wastage and time delays. Do the right thing by your builder and clarify this in your contract right from the beginning. Another requirement at this stage is the Certificate of Occupancy (C/O) before you can move in.

The Landscaping is to be done and if your budget doesn't stretch to a landscaper then get the ground levelled, top dressed with good soil impregnated with lawn seed. Having lawn is more important than trees as you don't want all that dirt coming through your house. Once you live in the house you get to see the most important views and can plan the garden layout with sunlight and shade in mind. Oh...and the shed.

The Maintenance period is when any builder worth his salt should call back after a period to inspect and repair any workmanship defects. These should not amount to anymore than an hour's work.

The Disputes do happen and I suggest you see a solicitor if you cannot amicably work things out. But to me its a waste of money when a little genuine could be used. If using a Professional, such as the Architect, this limits your disputes in some cases. However there are unscrupulous people out there that will take advantage of your ambition to house yourself.

Guarantees are required by all states in regard to building work over a certain value. See your local authorities or builders practitioners board.

For further information regarding guarantees contact your local authority or do a search in the links search.