Are you building your very first home? Congratulations! Not everyone gets this chance, so you’re among one of the lucky ones living the Australian dream. It’s an exciting time, but it can also be stressful, so make sure that you look after yourself. Something that makes it stressful is all the variables you need to consider when building for the first time. That’s why some people employ project managers to take all the hassle out of the process. So, in order to save you a headache, we’ve put together a pre-build checklist. Read on to find out more.
Pick Your Builder
One of the first things that you need to do is choose your home builders. There’s a crowded market out there, so you can afford to be picky. Ideally, you want a builder that has a reputation for quality, is affordable, is easy to work with and will get the job done on time – especially if you’re vacating another property or moving interstate. Do your research – read Google reviews, ask your friends, family and colleagues about their experiences with their builds. Build a shortlist of three to five companies, then meet with them. Pick the one that aligns most with your vision for your future home.
Set Your Budget
Building a house costs money, and money is a finite resource for most of us. If you’ve got a nest egg tucked away, brilliant. Make sure that your project stays within the limits of your savings, and you’ll be good to go. If you don’t have the money ready, you’ll need to secure finance for your build. This should be possible dependant on your existing debt, your income and your assets and liabilities. Calculate how much you can afford to repay per month, so you know what your borrowing limit it. It’s essential to stick to your budget. Building projects can balloon out and increase in scope, and before you know it, you’re in the red. So be careful and don’t overspend on anything.
Look for Land
Unless you’ve already got a lot of land ready to build on, it’s time to start looking for some. This should factor into your budget which we’ve discussed above. You’ll need to choose a suburb. In most major cities in Australia land in inner or outer suburbs can be hard to come by, unless you undertake a knock-down rebuild. You might be better off looking in the growth corridors where plots of land are readily available – just make sure that you understand commute times and consider local facilities and amenities.
Secure All Permits and Plans
Finally, you can’t build a home without the appropriate approvals, plans and permits. You’ll need to ensure all your paperwork is in order before breaking soil. Some building companies take care of this for you, while others will just focus on the build. It’s up to you to decide if you want to do this yourself or get a professional to do it for you – there are pros and cons to each.
A Construction Conclusion
When building your first home, you need to choose a builder that fits your needs. You also need to ensure that the project stays within budget. You’ll need a lot of land to build on, and you may find that your options are a bit limited by location – unless you plan to demolish an existing property and then build on the land. Finally, ensure that you secure all appropriate permits, plans and approvals before construction. Good luck on your first home project – what an exciting time.