Lenders usually allow borrowers to draw down funds at each stage of the construction process. The stages vary from lender to lender, but a typical stage schedule is composed of the following:
Base. This includes laying the foundation, plumbing, and all footings.
Frame. In this stage, the house frame is built, including brickwork, roofing, trusses, and windows.
Lockup. This stage involves finishing all external walls, setting-up lockable windows, doors, insulation, and all other brickwork.
Fitout. The construction focuses on gutters, electricity, installation of bathroom and toilet fittings, appliances, tiling, and others.
Completion. During this stage, finishing touches are made, including the final clean-up.