Building a new home checklist

LOCATION, LOCATION

Whether you’re choosing to build on your own block, or buying a land and home package from a building company, the location matters. Think about what you’d like in an ideal location and what the local amenities are like. Are there schools nearby? Recreational facilities? Access to shops and transport? What are the things that will matter to your family now, and in ten years from now? The area you choose to build in will have an impact on the potential resale value of your home in the future, so keep that in mind.

Whether you choose to knock down and rebuild, or build on a clear block or in a new development will also impact the overall costs of the project.

PERFECT FOR TODAY, AND TOMORROW?

It goes without saying that building a new home is one of the biggest investments you’ll make, so it pays to look at the liveability and value of the home for you now, and also for a potential future owner.

At some point you might choose to sell, so selecting a design with broad appeal and liveability is important. Consider the aesthetics of the home, the quality of the materials and fixtures you choose, the energy efficiency of the home and your location.

Look for flexible designs which are suitable for different ages and stages of life, and try to invest in quality finishes and materials which will hold their value well.

CHOOSE YOUR BUILDER

The quality of the new home you build will come down to the quality and reputation of your chosen builder.

Look for a builder with experience – they should be able to share examples of previous work with you, and also be open to connecting you with their customers for firsthand feedback. Many builders have a certain style they’re known for, so take a look at the examples on their website, or even better, visit a display home to walk through in person if you can.

It’s important to chat with your potential builders, and ask as many questions as possible.

FINANCE FACTORS

Before you get too carried away with the dream of living in a brand new home, it’s time to get realistic about your finances.

Building a new home requires a construction or building loan, which is paid out to the builder at different stages of the building process. Once the construction is completed, the loan is then transferred to a traditional loan format.

Meet with your bank or mortgage broker to discuss options, and to get a realistic idea of how much you can borrow and afford to pay back. Take the time to do some research into any available grants or funding schemes through the federal and state government too, as they sometimes offer incentives for people who are building a new home, which could end up saving you thousands.

THE CHECKLIST

[   ] Find your land and research your ideal location

[   ] Think about home designs and resale potential

[   ] Meet with builders and visit display homes

[   ] Choose your builder

[   ] Get your finances sorted

[   ] Research any available grants or funding

Ready to get started?

Explore our range of home designs or speak to one of our advisors today for an obligation free chat about building your new home.