Things to Consider in Building a New Home
Thinking of building a home in Brisbane or the Gold Coast? Here are some things to consider!
Building a new home is exciting and allows you the freedom to customise and personalise the house to suit your needs. There are many pros and cons to building a new home in place of buying an existing one, and it’s important to keep these in mind to make sure that your choice works for you.
Getting a Loan
Whether building new or buying an existing home, the first step is to get a loan. Getting a loan for an existing home is straightforward, but a new home requires a few additional steps. First, you will need to get a regular home loan for the purchase of the land you indent to build on. After that, you will require a construction loan for the physical building. You’ll also need to consider the build time. It can take anywhere between 4 months and 12 months to build a new home, and in that time, you will still require somewhere to live. This can mean staying with friends or family if you are in a fortunate position to do so or renting if you are not. You will also require a slightly more flexible budget when building a home for any hidden or unforeseen costs that might arise.
Having a Budget
On the subject of budgets, it is important to have one in mind when looking to build a home. Having a budget will help you determine both the scope of the build as well as the deposit required to finance it. If you are a new homeowner, you can also apply to receive the government first home owner’s grant which will assist you with financing. Once you can finance your home you need to consider the land you want to build on.
There are several factors to consider when you are buying land. First and foremost are location and suitability. Check that the land is situated near and has access to any facilities, services, and infrastructure you will require. Also, make sure the land is large enough to fit the home you intend to build while leaving you as much space as you require. This will depend on the needs of the individual, especially when it comes to outdoor living items such as a pool or a large garden. Next, you will want to check the quality of the soil with a soil test and make sure that the block has easy access for the builders. Finally, make sure that there are no building restrictions on the land. (See our article on Choosing a Block for your dream home)
Contracting a Builder
The next step is contracting a builder. Choosing the right builder can be tricky; you can either search online for a suitable builder yourself or you can create an open tender advertising for builders to contact you. Most builders prefer the first option, however the second places emphasis on the cost. Keep in mind that most builders will only quote the cost of the house itself. If you require additional work outdoors such as a driveway, outdoor entertainment, landscaping you will need to discuss this with them separately.
At Tangara Constructions, we are experts at creating custom built homes. We will work with you to make your dream home a reality! Get in touch with us today to find out more about our services.
Give us a call on 07 5540 7733 or send us a message using the contact form below.