Tips for buying your new Home

When: Wed 30 Sep 2015
Tips for buying your new Home

 

Building your own home offers something that no other property purchase can. A home that has been tailored to meet your needs, means you get a place that has the perfect fit for your family. Plus you’ll feel a sense of pride at every corner, as you see those personal touches that have gone into creating your dream home. Plus there is the added bonus of additional savings through more energy efficient designs in new homes.
 
So how do you embark on finding your new home?
1. Preparation
  1. Determine your budget – it’s important to get your finances in order. What is your budget and what can you afford now and what you can comfortably afford if your circumstances change in the future (we’re talking about starting a family, taking time off to study or changing jobs.
  2. Choose the right finance option – once you’ve got your budget sorted, now it’s time to source the right loan. Mortgage brokers can be a great resource as they do all of the negotiating with the lenders for you. If you chose to go it alone – it will pay to do your research as there are a large number of products on the market. Be sure to also check the Professional Register at Australian Securities and Investment Commission www.asic.gov.au
 
2. House and Land
  1. Choosing your land – now you have your finances sorted (in principal) it’s time to find that perfect block of land. Be sure to collect your information carefully – it’s really important to understand how orientation and sloping on a block can affect the price of site works and issues such as easements and setbacks can affect the style of home you choose (your land sales agent and builder will be able to advise on this)
  2. Choosing you home – so you have found your land, now it’s time to find your dream home. It’s important that you consider what options are going to be functional and enjoyable for you and your family – but within the budget!
  • How many bedrooms and bathrooms do you ned?
  • Do you need an indoor or outdoor room?
  • Do you require storage and how much?
  • Have you thought about Energy Efficiency & Sustainable features?
 
3. Choosing your Builder
  1. One of the important things to consider when looking for a builder is communication and the ability to form a great relationship. This person is the one who is going to make your dream home a reality!
  2. Reputation is everything – a great resource to use is Product Review http://www.productreview.com.au/c/home-builders.html
  3. Check as to what’s included in the specifications for example: carpets, fencing, light fittings and so on. The more that’s included in the standard inclusions the more money you can save!
  4. How long are the structural warranties? Some builders offer up to 30 years – but what’s included with that warranty?
 
4.Signing the contract
  1. Before signing the contract, request a blank copy. Have a read of the contract and familiarise yourself with the terms. Ask questions if you are not sure and it’s also advisable to get your lawyer to review the contract before you commit.
 
So now that you have purchased your dream home on your own piece of Australia – what happens next?
 
Builders will submit your plans to the developer for approval. It’s important to understand that when you purchase in a development, the Developer’s establish guidelines. These guidelines are developed in accordance with several statutory agencies and are designed to ensure the image, appearance and security of the estate is upheld.
 
The developer will review your home plan to ensure it meets its design guidelines and will make comments, changes as they need to. The developer will liaise with your builder and communicate any concerns to them. If there are no concerns and your plans are approved – your builder will submit plans to council for approval.
 
Once your home is approved by council and the site works are completed, titles are issued, your land settles, then your builder will commence construction.
 
Your builder will keep you up to date with the progress of your new home – they to understand how exciting this is for you and your family. Once completed your builder will complete a walk through inspection with you and officially hand over the keys.
 
Now comes the fun part – time to move in and start the next chapter.
 
If you would like to read/view information on styling tips, please be sure to visit our home and lifestyle section. We are continually adding tips from our various builder partners and interior designers.

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