Buying a Turnkey or
Ready-to-Go New Build

Both are newly constructed properties — but a turnkey is a complete, move-in-ready package where the developer handles everything, including landscaping, flooring, window coverings, and appliances. A standard new build may only take the home to 'lock-up' stage, leaving you to finish interiors, driveways, and landscaping separately. With a turnkey, you hand over the money and receive the keys — literally turnkey.

Most lenders require a 20% deposit for a turnkey property, just like any other new build. However, through the First Home Loan scheme (backed by Kāinga Ora), eligible buyers can purchase with as little as 5% deposit. Some lenders also accept a 10–15% deposit depending on your income and overall financial position. We'll assess which option works best for you.

Absolutely. If you've been contributing to KiwiSaver for at least 3 years, you can withdraw most of your balance towards your deposit. For new builds (including turnkey properties), the First Home Grant offers up to $10,000 per eligible buyer — double the amount available for existing homes. If you're buying with a partner, that's up to $20,000. We'll confirm your eligibility and handle the paperwork.

Yes — and they are often more flexible than major banks when it comes to new builds and turnkey properties. Non-bank lenders may accept lower deposits, have different valuation approaches, and lend on property types that major banks decline. We compare multiple banks and lenders to find the best fit for your new build purchase.

Pre-approval typically takes 3–7 business days with your documents ready. Full approval on a specific turnkey property usually takes another 5–10 working days after we submit the details. Since turnkeys are new builds, the lender will also require a valuation — we coordinate this upfront so there are no delays on settlement day.

Typically yes — the advertised turnkey price is GST-inclusive for a residential home. However, if you're buying as an investor, the GST treatment may differ. Your conveyancer and accountant can confirm the specific GST position for your situation. We'll make sure your loan structure aligns with the correct GST treatment.

Most turnkey developers offer a fixed specification, so customisation is limited — but some allow you to choose colour schemes, floor coverings, or benchtops from a selection range. If you want full control over finishes, a 'build your own' new build or architect-designed home may be a better fit. We'll help you understand what your loan allows before you sign.

Construction delays can happen, and your loan structure needs to account for them. Some lenders offer progress payment loans that release funds at each build stage, while others only settle at completion. We structure your finance to handle potential delays — including early repayment periods and extending pre-approval expiry dates — so you're never caught out.

New builds (including turnkeys) benefit from a reduced brightline period in New Zealand — currently 2 years instead of the standard 5 or 10 years for existing properties. This means if you sell within the first two years you may still be liable for tax on any gain. Tax rules change frequently, so we recommend confirming with your accountant. We'll note the relevant dates in your loan structure.

Since a turnkey is brand new with a Master Builders or implied warranty, a full builder's report is less critical than for an existing property — but we still recommend a pre-settlement inspection to check fit-out, plumbing, and electricals match the specification. Your lender will likely require a valuation, and we can recommend inspection services if you want extra peace of mind.