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January 2020 | Construction

Building your dream home can be an exciting but daunting process, you may start out finding the right location and block of land, or you may select your perfect house first. Buying land and building your home is one of the biggest undertakings you will make and can be quite overwhelming. These key steps will help you through the process and keep you within your budget and stress-free as possible.

Step 1: Research

January 2020 | Construction

Before you go any further, it’s important to establish your budget. When working out your budget you’ll need to factor in extra costs such as conveyancing, taxes, duties and fees. 

January 2020 | Construction

Once you have decided on a lot you will need to sign contracts and pay an initial deposit. It is important that you understand the process involved which will be explained by the Land Sales Consultant. A copy of your land contract will also be emailed to your nominated conveyancer/solicitor to view prior to your contract signing.

 

When finding a block of land in your preferred location there are a few things to consider.

January 2020 | Construction

While you wait for your land to title, it’s time to research home designs and builders, check the design fit within your remaining budget and decide who you want to build with. You’ll need to make sure the home design you select can be adapted to comply with the design guidelines in the area your land is.

January 2020 | Construction

Once you’ve selected a floorplan and façade to fit your lot, you will then have an appointment with a colour design consultant to select all your colours, fixtures, fittings and finishing touches. It is important to remember not to get too carried away in your consultation, as it can be easy for upgraded items to blow out your budget quickly.

January 2020 | Construction

Your builder should now put together your home design costs, including any upgrades, inclusions, and your final site costs (if your lot is yet to titled, a provisional sum will usually be included), into a Building Contract.

January 2020 | Construction

Construction of your new home is broken down into various stages. You will be invoiced a percentage of your overall contract value at the completion of each stage so you will need to make sure your bank is prepared for these payment stages. These stages are usually;

January 2020 | Construction

With your final inspection completed and any required touch ups or issues completed, it is now time to arrange for the final settlement payment to be made. Completion of your home needs to be within two years of settlement.

Planning in advance for removalists, selecting service providers for water, gas, electricity, NBN and other services. Organising connections once final settlement is complete will ensure a smooth handover and move in process.

January 2020 | Construction

With your final payment now made, you will receive the keys to your new home and will be guided through manuals and after care of your new home with a representative from your builder.

Your home will be covered by a range of guarantees, warranties and maintenance programs, it is important you familiarise yourself with these details and understand your responsibilities as the home owner, to ensure you do not do anything to void any guarantees or warranties.

January 2020 | Construction

Congratulations, it’s now time to move in to your new home and enjoy everything your new home and its surrounding location has to offer.

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