If you’re building your first home, Homeshelf should be your first stop for advice on new home builders in your area, getting building quotes, and what home size best suits your block.
Buying Land
Buying land for the first time is an exciting process, but it can also be daunting. How do you know what is the right piece of land for you? Will your land be suitable for your dream home? And will you have access to the services you need?
Before signing on the dotted line, there are some key things to consider about buying land. Firstly, check the quality of the land you are looking at. If it is an established area, make sure that it is zoned for residential use and suitable for building a home.
Many blocks will be regular shapes and reasonably flat, but some may feature quirks like an unusually narrow block or a steep slope. These factors dramatically impact the kind of home you can build there, so carefully consider if this block is the right one for you.
Choosing Your Home Size
Want a big family home with plenty of room to move and grow? Then you’re going to need an appropriately sized block of land. A common trap for first time home builders is not realising the amount of land that is required to build a house with a certain frontage.
Remember that most places will have a setback, or the amount of room between the front of the property and the building, that you need to stick with.
If your desired home size doesn’t fit on your block, you always have the option of opting for a second storey on your home to maximise your available space.
Builders Prices
It’s important to have a budget in mind before you begin the home building journey. However, you also should be aware of the difference between the base price and final price of your new home.
Many first time home builders get caught out with low base prices that don’t take into account the extra costs that are involved in construction.
A base price is a flat rate for standard features in a home, but it doesn’t include any site works, provisional costs, changes to the design, and upgrades. You can expect to pay between 20 and 30 per cent more than the quoted base price.
When comparing builders’ prices, ask lots of questions and request quotes that include the features you care about the most, so you can ensure you are getting what you paid for.
Investment Properties
If you’re a first time home builder, putting tenants into your new home is a smart move to make the build more financial viable. When you use your house as an investment property, you can regain the costs of the build and pay off the land using the rental income.
Property investing may seem daunting, but anyone can secure their first investment property. Do plenty of research on the grants you may be eligible for beforehand and remember that you can always move into the property down the track.