Start here: Building or Buying a New Home
New construction is three contracts pretending to be one, and the contract you don’t read carefully is the one that bites.
Six stages on land-and-build, off-the-plan and new-build paths, including the construction loan mechanics and the sunset-clause traps that catch most buyers.
6 stages~60 min total readUpdated 5 May 2026
You should be here if…
- You’re considering a new build, off-the-plan, or land-and-build.
- You want to understand the construction loan structure before signing a builder contract.
- You want to know what “sunset clause” actually means for you.
6 stages
Building or Buying a New Home
The 6 stages
Read in order, or jump to the bit you need.
01House and land vs off-the-plan vs new buildBuying a finished new home, signing off-the-plan two years out, or owning the land and contracting a builder. Three very different lending, deposit and risk profiles.10 min02How a construction loan worksProgress payments, interest during build, IO-then-P&I conversion. The mechanics that separate a construction loan from a standard home loan.11 min03How to vet your builderHIA contract vs Master Builders, fixed-price vs cost-plus, and the four red flags that signal builder insolvency risk.10 min04Sunset clauses and off-the-plan trapsThe clauses that let a developer rescind your contract and resell at a higher price. State law varies; the contract you sign matters more.10 min05First home buyer schemes for new buildsFHG variants, state grants for new construction, regional add-ons. New builds attract more government money than any other purchase type, if you qualify.10 min06Get matched with a construction loan specialistConstruction lending is a niche. The wrong broker quotes you the wrong product and you discover it at progress payment three.9 min
Related deep-dive
Want the encyclopaedia, not the path? See the new build hub.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates are calculated on a secured loan of $150,000 over 25 years for home loans and a loan of $30,000 over 5 years for car and personal loans, unless the lender states another basis. Business loans and equipment finance for a business purpose have no mandatory comparison rate.