Construction loans pay in stages, not in one sum
A construction loan is usually interest-only during the build, and the lender releases money in draws as each stage is completed and inspected. You pay interest on what has been drawn, not on the whole loan.
Because draws are tied to certified stages, a delay on site is also a delay in your money moving. Ask your lender how long a draw takes once the certificate arrives, so you are not caught paying the builder before the loan pays out.
The deposit stages to expect
Most residential contracts set a deposit at signing, then further amounts at agreed milestones such as slab completion, lock-up, fixing and practical completion. The exact percentages and milestone names come from your contract and your state's rules.
Do not pay a milestone because the builder says it is done. Pay it because the stage has been inspected and certified, and because your lender has agreed to draw.
Allowances, provisional sums and upgrades
An allowance is a set dollar amount the builder holds for an item — say tapware or a benchtop. If you choose something above the allowance, you pay the difference.
A provisional sum is an estimate for work that cannot be priced exactly yet, such as site works or an uncertain service relocation. It is a placeholder, and the final number can move.
Ask for the full allowance and provisional sum schedule in writing before you sign, and price your preferred selections against it.
Variations are a cash flow event
Every change you request, and every change the site forces, is priced as a variation and added to your contract sum. Some are small; a change to the slab or the structure is not.
Get the variation priced and signed before the work happens. That keeps the money and the timeline in writing, and it keeps the final invoice from becoming a surprise.
Grants, thresholds and first home benefits
State-based grants, concessions and first home benefits change, and they differ by state, by the value of the build, and by whether you are eligible. Check the current rules with your state revenue office and your lender rather than relying on what you read when you started.