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Without a contract to build, you dont know what the price to build is going to be. There are many reasons why the builders quote might be more expensive than the price in the fixed price contract. The major obvious one is site costs. Further, the banks valuer may value the completed project...

dont buy the land first, get a full building contract, and get a full loan approval on both before committing to purchase the land. There is lots of risks with building, but you can manage one of the larger ones by doing the finance as one before you commit to the land.