Property:Development:21.Buying
Summary
- NZ:
- Capital required:
- 10% capital required for property and new build
- 20% capital required for land
- 50% capital required for project development (partnerships, etc.)
- Banks:
- Each bank has preferences for certain types of risk / projects.
- For example, BNZ seems to be a better fit for for rural home development (requiring 20%).
Notes
Depending on your bank, you'll need to have your solicitor pull money from your Kiwisaver and put it towards the purchase1).