We know it's all about the details, so it's important you know what is and isn't included with your new build.
Innovative Finance Solutions
Our Finance Partners | Lending Calculators
Why use a specialised construction loan provider to build a new home?
Some benefits of using a specialised new build loan provider include:
- Building with a much smaller deposit than you might expect - terms and conditions will apply
- "Client Progress Payment" or "Land and Build Turn-Key" Packages may be available for qualifying clients
- Your loan will be fully project managed throughout the building process from application, through to completion - one less stress for you!
Jennian Homes partner with the best in the business to help our clients with new build finance solutions. Our proven track record with NZ's leading finance providers has enabled us to help many clients to achieve their dream home goals - and made the process much easier! See what you can afford today with our partner Lending Calculators.
We can help with your loan application from Start to Finish.
Get in touch with your local Jennian franchise to see how easy it can be to start the process of building your new home.
Why getting the right loan and advice for building your new home is crucial.
Construction loans differ to that of a standard outright purchase and settlement of an existing property.
This requires specialist knowledge so before you decide how you want to finance your new build it is important to understand the difference. While normal home loans normally offer a lump sum payment, a construction loan is usually paid in stages as your new build progresses.
When considering a construction loan the key is to talk to a specialist in construction lending before you commit so that you can understand which type of loan is right for you and you wont get caught short when building your home.
Our specialist new build lending partners are highly experienced and can help you find the right loan for your new home. We encourage you to use the online lending calculators to explore just how easy it may be to start the process to building your new dream home.
Helpful Articles
About Construction Loans
Construction loans differ to that of a standard outright purchase and settlement of an existing property.
What is your true budget?
Establishing your true budget before you embark on this exciting adventure is the most important thing you will do to avoid disappointment.
Frequently Asked Questions
During the design phase of your home, there may be a pre-consent deposit required to cover draughting costs. This amount is taken off the contract price if you decide to build with your Jennian Homes franchisee. The deposit you'll need is dependent on the type of building contract you choose but is typically between 10-20%.
For a section: usually 20% of the lands value
Build only: 20% of the builds final value
Turn Key: 10% of the total build from start to finish with payment once build is complete.
Upon signing the contract a deposit of 5% of the contract price to build your home is required for work to commence. These figures are not definite and you will discuss this with your local franchise before entering any contract.
The cost of building a new home will vary from region to region and can have many depending factors such home design, building materials chosen, site conditions and features specified.
- Prime Cost Items - Includes items that haven't yet been chosen such as fixtures and fittings so a sum is allocated for them.
- Provisional Costs - These are for items that may proceed but are not yet a certainty or have unknown costs such as decking and landscaping etc.
- Variations - These may apply if at any time the when changes to the scope of work are made after the contract has been signed.
Try out our Lending Calculators and find out what you can afford
You may be eligible for government assistance to help you buy your first home, subject to specific conditions including but not limited to:
- you are over 18 years old
- you do not currently own any property or land
- you have been contributing the minimum amount or more to your KiwiSaver for 3 years or more
- you agree to live in your new house for at least 6 months
The first home buyers grant can be up to $10,000 per person or $20,000 for a couple. Terms and conditions apply, speak to our team to discuss any government grants that you may qualify for when building your new home.
Your local Jennian team are here to help.
Your local Jennian Homes franchise are experts and can assist you with your loan application, and manage your entire build. Get in touch with your Jennian Homes franchise today.