You will need to determine the costs of building the home and the documents required for loan approval.
Costs Involved with Building a Home
- Legal costs
- Construction costs
- Purchase of land
- Building consent
- Valuation costs
- Architect fee
- Resource consent
- Electricity, gas, and water supply
Documents Required for Approval of a Construction Loan
These are the following documents your bank may ask you to provide:
- Builder Risk Insurance
- Building Consent approval
- House plans
- Registered valuation
- Resource Consent approval
- Fixed Price Building Contract
Before moving into your new home, there are several steps you’ll need to complete. Don’t worry, Infinity Loans is here to walk you through the process.
Consulting the Adviser
During this process, we will give you an indication of the max loan and ideal bank.
Finding the Perfect Property
Sale & Purchase Agreement
We recommend including a conditional offer as you will need some time to get an appraisal and check if the property best suits your needs. Your solicitor will also need to sign off on the title or other potential legal clauses under the Sale and Purchase Agreement.