For many people, buying land and building a home can be an attractive alternative to buying an existing house or unit. This means you can build the home to suit you and your family. These steps will help you enjoy and understand every step to purchasing your House & Land Package.
1. Select your house and land
You can choose your house and land as a package or separately. Whichever you decide, be sure to select land that will comfortably fit the size of the house you’d like to build. The type of property and location you choose should reflect your lifestyle. Ultimately, the decision comes back to one basic question- how will you use your property? There’s no right or wrong choice, it’s just what’s most suitable for you and your budget.
2. Arrange your finance
Talk to your bank or finance broker and determine how much you can spend on your property. Don’t rush into it – take a week or so to work out your finances. After all, this is probably the biggest purchase you’ll ever make.
3. Purchase your block
Have your contract of sale drawn up, pay any necessary deposits and consult with your solicitor to confirm your land settlement.
4. Get your building proposal
Your builder will prepare an itemised new home proposal that includes your choice of finishes, additions and customisations for your property.
5. Test your soil
Upon paying the small contract preparation fee to your builder, they will arrange for a soil test to be conducted and produce a site report. This key step ensures the site cost so a final Home Building Contract can be finalised.
6. Sign your contract
Once your contract has been prepared, make an appointment with your solicitor to sign it and pay the balance of your 10% deposit.
7. Get all your property’s permits
Your builder will take care of lodging the building permit applications for your property, pay any associated fees, as well as arranging sewer and mains connection.
8. Build your home
Your builder is responsible for the construction of your new home and will keep you informed every step of the way. During the construction phase, work safety regulations mean access to your home should only happen when you’re accompanied by a Builder’s representative.
9. Collect your keys
When your home is complete your builder will provide your property’s Occupation Certificate. This is the time to make final payment and for handover to occur, and the exciting part, you’ll get to collect your keys!
10. Move in and enjoy
Put out the welcome mat and move your family into your brand new home and enjoy everything it has to offer.