Building a home for the first time is an exciting process, but there are a lot of steps involved so you’re likely to have some questions along the way. Even experienced home buyers who have purchased established properties before will find themselves asking ‘where do I start if I want to build a house?’. The steps to building a new home may differ from buying an already existing property, but they’re not actually that difficult to navigate. Here’s how to get started when you want to build a new home.
1. Find your land
The first thing you should do if you’re planning to build a new home is find the block you want to build on. Before you start shopping around, it’s a good idea to do your research on how to choose the right block. There are many factors that may influence which block you choose. Take your time to think about what kind of house you might like to build and where you’d like to live.
Getting to know the developers and estates around the areas you’d like to build in can help you to find land for sale. You might also find opportunities through private sellers or infill blocks for sale in established suburbs.
If you’re looking for affordable blocks for sale close to the Swan Valley, then there’s no better place to discover than St Leonards Private Estate. Located in Dayton, it offers home builders the chance to be part of a family-focussed community within easy reach of a range of excellent amenities including parks, schools, sporting fields and shopping centres.
You can browse our land for sale here.
2. Find your builder
The next step in building your new home is to find a builder for your project. When choosing a builder, it’s important to do your research. Your home is likely to be one of the biggest investments you’ll ever make, so it’s important to find a reputable builder for your project. Before you get started on building a new house, make sure your builder is covered by all the correct insurances and that their contract covers everything you will need up until the time of completion.
If you want to simplify the process of finding your building and your block, then a house and land package may be the right option for you. House and land packages bundle both your land and a home design together, streamlining the process of building your new home. At St Leonards Private Estate, we work with some of Perth’s most popular builders to offer you a great range of house and land package options!
3. Choose your home design
Once you’ve found your land and a suitable builder, it’s time for the fun part! Choosing your home design. Before signing your contract you’ll need to pick out the home of your dreams. You’ll need to keep in mind the constraints of your block when choosing a home design. There are many options out there to choose from and most builders are able to customise their features to suit your needs.
4. Apply for finance
The next step in the process of building your new home is to apply for finance. This works slightly differently than purchasing an established home. If you’re purchasing your land separately you’ll need a land loan to purchase your vacant block, you will also need to apply for a construction loan to build your home. A construction loan is designed to work around the different phases of the construction process and can help to prevent you from experiencing cash flow issues. Rather than receiving money in a single lump sum, it will be paid in installments to your building through ‘progressive drawdowns’.
5. Sign your contract
The next step once you’ve agreed to the costs of purchasing your new home is to sign your contract and begin the pre-start process with your builder. Your pre-start meeting is when you’ll choose all of your fixtures and fittings in your new home. If you want more premium specs, you’ll likely find that there are some extra costs involved, so it’s a good idea to factor this in when budgeting for your build.
6. Monitor the build progress
Once construction gets underway, it’s important to monitor the progress of your build. Your builder should keep you updated in each stage of the construction process. It’s important to keep careful track of what you’ve agreed on with your builder – take note of the dates, design features and approval requirements involved in your build. If anything is not progressing the way you expected, you should get in touch with your building consultant.
7. Get your keys
Once your newly built home has reached the practical completion stage, it’s time to pick up your keys, pop open the champagne and celebrate!
If you’d like to discuss how to get started with building a new home in Dayton, contact us today! We’d love to hear from you.