Building your dream home can be a fulfilling and complex experience so it's important to take the right steps and be well organised.

The building steps

1. Plan your budget. Setting up a budget so you have a clear idea of how much you can spend on building your new house. Try our budgeting calculator and borrowing indicator to see how much you can borrow.

Calculator icon Budget planner

Calculator icon Borrowing power indicator

2. Before you sign a contract for land, you can make an appointment with us to receive approval in principle, which means that you know exactly what you can afford. This may also give you more credibility when talking to your developer.

3. Choose your location and house. When you are looking for land to build on, you can either choose your land then design a house to be built on it. Or you can go through a developer who is selling house and land packages. This means that the developer organises both the land and the house.

Most developers will be able to take you through their range of display homes. From here you may get a good idea of what the house feels like and also the quality of the workmanship. Most designs can be varied to suit you once you find something you like.

If you are organising the build yourself, you may need to get the land surveyed (a Contour Survey) to make sure it is suitable to build on, then select an architect or builder to design and organise the construction of the house. Research the designer of the house as well, to make sure you will be happy with your home.

4. Once you have purchased your property and settled on your loan, building will commence. There are three stages at which your builder will invoice you and you will need to make a drawing on your loan. At these stages your lender will revalue your property, draw on your loan and pay your builder.

5. Loan repayments need to be paid during the construction time. This may be a good time to consider use the interest only feature, which can free up your cash for any extra costs.

Find a home or residential investment loan to suit you

ANZ has home loans and residential investment loans that are purposely designed for buying land then building on it. We also have some tips to make sure you are confident through the process of building your home.

Loans for building your home or residential investment property

ANZ has designed the ANZ Residential Land Loan and ANZ Residential Investment Land Loan to help you through the stages of buying land and building a home or residential investment property. Once the construction commences, you can choose from an ANZ Standard Variable Home or Residential Investment Loan, an ANZ Simplicity PLUS Home Loan (not currently available for residential investment loans) or ANZ Fixed Home or Residential Investment Loan (provided construction is completed within four months).

The loan includes the following features, specific to building your home:

With ANZ Residential Land Loans and ANZ Residential Investment Land Loans you also have the ability to link to a 100% mortgage offset account, which can save you interest on your loan. See the interest and comparison rate page for current variable interest rates available for ANZ Residential Land Loans and ANZ Residential Investment Land Loans.

ANZ also allows progress draws on most loans. To find out which loans have this feature compare ANZ home loans.

How to apply

Call us on 1800 100 641

Send us an enquiry

Call us on 1800 100 641
8:00am to 8:00pm (AEST) Monday to Friday,
8:00am to 6:00pm (AEST) Saturdays and Sundays.


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