Buyers Month: Intent to Build Got Us on The Property Ladder
To begin Buyers Month, we here from Ollie from Mount Pleasant, Christchurch, who was being deterred by the huge queues and constant loss of getting an offer in with such large crowds. This was until he heard about an intent to build option his lender was keen to discuss.
Hear his story here:
Hi everyone, my name is Ollie.
My partner and I have been looking to get on the property ladder pretty much since the start of this year. Obviously March came around and COVID-19 hit, which was a bit of a spanner in the works for those plans.
The biggest problem we found was just the confidence in the plan that we put in place. We were going to Open-Homes recently and just seeing queues out the door and, you know, falling in love with properties and not getting them, basically.
So, I've worked with Simon for a while now, and he ended up suggesting, "well, what if you look at small bits of land and use the big deposit you've saved up to look at what's called intent to build within twelve months".
So, we sit down with the bank, we show them our deposit and say, look, we want this small bit of land, it's pretty cheap, but we are definitely going to build on it. And that ended up get us onto that property ladder.
In a really stressful time, a hard year, we'd look to other options, we sought advice from a professional, and now we've got something that's probably an even better result than what we were planning. So that's the thing to remember, there are options out there.
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