Therefore, you want to build.
 
How do you intend financing your project? Will it be out of own funds (money in a savings account or
in your access bond) or by means of a 2nd bond over your property.
 
Either or you need to know what your budget is.

• If you are financing it from a savings account, it is easy. You know exactly how much money you have. If it is off your access bond, contact the bonding bank and re-confirm the following:
• You still have an access facility. Due to the credit crunch and the National Credit Act, you might not have the facility anymore or the facility conditions may have been amended and the access percentage adjusted.

If you intend raising the money against the registration of a 2nd mortgage loan, contact the bank and request a pre-approval in principal from them. The conditions of such a pre-approval will be subject to formal construction plans and specification data being presented to the bank for final approval. Request that the bank, in principal and in writing give you an amount, for which you would qualify.
 
Bear in mind that you will have the outlay for architectural fees before the bank does its final approval
for the funds.
 
It is pointless starting the process only to find out that the bank will not support your project or that
what you thought was available in the access bond has been withdrawn.
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