Being a first home (or land) buyer, navigating the process of a new home build can be daunting – you might be wondering where to even start. Although you may feel you have a good idea of the process, the benefit of some expert advice never goes astray.
To give you the helping hand you need, we’ve reached out to our builder partners at Tribeca, Elderton, McDonald Jones and Metricon and asked them for their top tips to help you build your first home with confidence – which we’ve compiled below.
Have you checked these off your list?
- Know your budget (and how to manage it)
To ensure you start out on the right foot, make sure you take the time to critically assess your financial situation and set a budget. Talk to your bank or financial advisor about determining a suitable loan, and factor in any grants you are entitled to.Be market-savvy and conduct your own research on house and land prices. Consider your lifestyle, weighing up the need for a large home with preferred proximity to local amenity and green space. This will help you decide on the best house and land size for you, without blowing your budget.
- Do your research
When searching for that block of land on which to build your dream home, be sure to talk to your builder first. Reputable builders will help you determine whether the block of land is right for the style of home you are considering. Remember, the block with the lowest price tag may not always be suitable for what you want to achieve, and costs can add up if major structural adjustments need to be made to your design prior to commencing the build.Often, developer guidelines are in place to ensure new communities are comprised of homes with similar build quality and style. Always ensure your builder is aware of these guidelines so they can allow for this in your design. Fortunately, Clearstate does not have developer guidelines, meaning our customers have the freedom to build the home of their dreams, without limitations.
- Plan for the future
You might know what kind of house design suits you now, but what about in ten years? Taking the time to reflect on what your future might look like prior to the build will ensure your new home caters to your family’s needs for years to come.Are you planning to grow your family? Will you need space down the track for children, and later teenagers? Consider separately zoned lounge and bedroom areas away from the main dining and entertainment spaces.Do you have elderly or distant family members? A guest bedroom with a separate ensuite might be a welcome addition for long stays.Also, consider how your local area will change long-term, with future local amenity such as schools, transport, parks and retail options, and the potential long-term growth in the value of your land.
- Select the right builder!
When it comes to building a home, you want it to last. It’s important to speak to prospective builders about the materials they use, and why. Look for a builder with a strong portfolio of past work and happy customers. Some builders offer warranty guarantees on structural frames and/or in-house financing options, which you may find useful.Always seek external financial advice prior to locking yourself into a contract.
- Enlist third-party support
Lastly, enlist a supportive team who advocates for you every step of the way. Find a solicitor or conveyancer who understands land and build split contracts, and is willing to coach you each step of the way.Consider hiring a third-party building inspector to conduct a thorough defect inspection when your home build is complete. Make sure to go along and check any issues have been resolved prior to final sign-off. This is a great opportunity to learn as much as you can about the home building process, so you’re better equipped for next time.
As a trusted Australian land developer, we always partner with reputable builders to ensure our customers receive quality homes that stand the test of time. We’d like to thank our builder partners Tribeca, Elderton, McDonald Jones and Metricon for their help in compiling these great tips for new home builders.
In addition to the tips above, the NSW Government has a range of property incentives and grants on offer to assist home buyers with their house and land purchase. Set to benefit most are eligible first home buyers and new home builders, with an enticing amount of money (we’re talking thousands) in savings to be made, so be sure you’re up-to-date on what your entitlements and eligibilities are.
We encourage any new first home buyers/builders to check the NSW Government’s website for incentives or grants that will assist in building your dream home. Be sure to check any eligibility criteria before you apply.
Disclaimer: The information provided in the article above should not be construed as financial advice.We encourage customers to conduct their own research, and if necessary, speak to an accredited financial consultant prior to making any purchase decisions.
