Never bought or built before, need advice.

I am 24 and am getting ready for mortgage pre approval so i can look at building. And just want to know some information from a person that has no personal financial interest in the outcome.
1. Is building with a house and land package better value and less risky than buying land and choosing a builder?
2. I know a person that has built a few properties and will be using her contacts to do fittings and lighting, maybe even flooring, do i need to submit a fully itemised list to the bank?
3. I want to go out and buy the taps, lighting and basins myself. Will i have to pay for this or can i find a way to get it in my loan?

Hi there,

We are almost finished building our first home, so I can only give advice based on this. To answer your questions -

1. It may be more affordable but not necessarily better value. When you buy land separately and choose your own builder, you have more options with floor plan, design modifications and choosing things like flooring, cabinetry, tap ware, etc.

2. Yes, the bank will want a detailed contract from the builder to ensure the value of the house and land are appropriate with what they are lending you.

3. Some (I don't know about all) builders will allow you to supply things like lighting, tap ware, flooring, etc.

Hope this helps

Thank you very much for your reply, i appreciate it. 😊