Building or renovating is a major undertaking and it can be stressful, costly, and quite different to buying an existing property - especially when it comes to borrowing because expenses can vary throughout the process.

Building

• Usually the loan would be drawn on in installments as building stages are completed.

Renovating

• We may lend based on the estimated value of the property after the renovation is complete.
• Like building, the loan can also be drawn on in installments as stages of renovation are completed.

Further information:

There are some really great websites out there loaded with information on all sorts of things that can guide you through the building and renovating process.

Check out the links below:

Building Guide - New Zealand home Owners building guide including information on the Building Act, planning, construction and industry contacts.
Nailed - Information on building, renovating or buying and selling New Zealand homes, including finance options.  
Hamilton City Council – Who to contact and how to go about obtaining building consent in the Hamilton area.
Tauranga City Council – Who to contact and how to go about obtaining building consent in the Tauranga area.
Department of Building and Housing – All about the building act, consent, and also some great tips on planning.
Energywise – Making your house more energywise go save you money in the long run. There’s no time to do it quite like when you are building or renovating. 

The information in this section is of a general nature and is not intended to be taken as advice. First Credit Union recommends obtaining independent advice regarding your individual circumstances. Links to non-First Credit Union websites and material are done so for your convenience and First Credit Union accepts no responsibility for their content.