THE NATIONAL Housing Trust does offer the option of building, to its contributors. Once a contributor has met the Trust's basic qualifying requirements, he/she will be able to access up to $800,000 from the Trust to build on his/her own land. Where two or three persons wish to co-apply, they may be able to get two or three times the loan amount. Of course, whether or not applicants get the full amount will be dependent on their affordability.
Once a contributor has decided to go the Build on own land route, he must supply an approved building plan at the point of applying. The NHT has standard design plans for studio, two-bedroom and three bedroom units which have already been approved by the regulatory body. For each set of plans, there is a complete set of construction drawings which include the floor plan, foundation plan, elevations, roof details, drainage plan, electrical plan, and structural details. Where the NHT's plans are being used, beneficiaries must still apply for a building permit from their local building authority.
Build on own Land beneficiaries have the option of using their own plans ,however, unlike the NHT plans, these buildings plans will all have to be approved by the local building authority before the NHT can proceed with the processing of the application.
Depending on your building plan, the NHT's loan may be able to complete the house you intend to build. However, the loan should be able to provide you with a "Habitable unit". By this it means that there should be at least an enclosed housing shell that can sustain human life and that offers an acceptable level of resistance to the hazards of nature.
As a beneficiary of an NHT Build on own Land loan, you will be building your home with financial assistance from the Trust. You will need to employ a contractor to build the house, or you can act as your own contractor if you have some knowledge of construction.
A maximum of five disbursements are made under the NHT's Build on own land loan programme. The Trust's Technical Officer will certify the value of the work completed and recommend each disbursement.
