How to finance your new build

How to finance your new build

Every Platinum home is unique because it reflects the individual requirements of its owner. Size, layout, fittings and finishes are chosen by you and influence the final building cost. That’s why the cost of building varies from one Platinum home to the next.


Jul 3, 2021

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Your local Platinum Homes team works with you to deliver a premium property that’s tailored to your budget. Our Best Value Promise provides added assurance – if you think you have been offered the same specification home at a better price from another building company, bring us the building contract before you sign and we'll show you why we offer better value.

How does finance work for a new build?

Financing a new build differs from purchasing an existing property, as each home building company has its own building contract setting out how and when you’re required to make payments. It’s always advisable to get your own independent advice through your own mortgage provider, your lawyer or a home building finance company.

If you’ve already got the land for your new home, the first thing we do at Platinum Homes is to finalise a contract price for your home build. To make things easy during the build, we don’t require a big initial payment. We ask you to pay a deposit of 5% of the build cost and then to make progress payments during the build as we hit significant milestones – such as the slab going down, the roof going on and kitchen completion.

If you don’t already own the land you need, talk to your local Platinum Homes team about a house and land package in your area – which usually requires a 20% deposit – or one of our turnkey home packages that is already planned and often only requires a 5% deposit.

What if this is my first home?

As a first home buyer you might be able to withdraw some, or all, of your KiwiSaver funds to put towards your deposit. You need to have been a member of KiwiSaver for at least three years. We recommend talking to your KiwiSaver provider to find out if you are eligible.

In addition, the following options could also apply:

First Home Grant:

If you have been making regular KiwiSaver contributions for at least three years and earn under a certain amount, you may be eligible for a First Home Grant of up to $10,000. You can find out more at

First Home Loan:

Some banks allow you to build a new house with a First Home Loan, which only requires a 5% deposit. To be eligible you must meet several conditions relating to income and house price.

How do I ensure my build is guaranteed?

Platinum Homes is serious about your investment. All of our builds come with the added assurance of comprehensive third-party construction insurance – which guarantees your home will be finished.

Further reading

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