1. FIRST, FIND THE PERFECT PLACE TO CALL HOME
When looking to build a home in Warrnambool, choosing the right place to call home is easy if you know what you value most about the area you want to live. Consider:
- Convenience to schools, shops, public transport, recreation etc?
- Family friendliness – Playgrounds, open space, parks, trails etc?
- Neighbours – Living amongst families ‘just like yours’?
- Security – Where is considered a ‘safe’ neighbourhood?
- Quiet – Like the idea of kids playing cricket in the street?
- Views and Prestige?
- Price – Good value now and steady growth into the future?
2. SET A REALISTIC BUDGET
If your thinking of building a new home in Warrnambool you’ll first need to identify what type of home you’ll be building. Too often people assume that there’s two types of homes to build; An expensive one and a cheap one. However, there’s so much in between!
In our mind our home is built according to two things:
1. Our Needs and
2. Our Desires.
However, in reality our home is built according to one thing; Our Budget!
The variables between a luxury home and a basic home are extensive and there’s a demand in the market across the spectrum. The question is, where do you sit on the spectrum? For what purpose are you building a home and more importantly what type of home can you afford to build?
As someone who is thinking of building, would you describe yourself as:
- Building the luxury home of your dreams with little expense spared.
- Building a beautiful new house you’ll be proud to call home.
- Building a comfortable new home with good liveability and practicality.
- A first home owner building a home to escape the rent trap.
- Building an investment property solely for the purpose of building wealth.
Your answer will be determined by your current financial position.
Establishing a budget early helps helps you be realistic about the type of home you can afford to build. Financial advisors and creative accountants that understand property will present options and possibilities for you that your may not be aware of. A good financial advisor will work with you over the long term to achieve your goals. You can find the right people to help you in our Getting Started section.
3. CHOOSE A BUILDER THAT MAKES YOU SMILE
Choosing a builder who makes you smile will ensure a happy home building experience. Building a new home is a journey you embark upon with your builder and your journey will be a happy one if you feel that your builder has your best interests at heart and most importantly listens and responds to your needs. If you find a builder that suits you but some of the terms in the building contract don’t sit right with you, don’t be afraid to negotiate. A good builder will be prepared to negotiate an agreement that you feel comfortable with. Lay your cards on the table early in the piece. It’s easier to question terms before you have developed a working relationship. Throughout your build, visit your home often and exert common sense. Again, if something doesn’t look right, speak up then and there. It’s a whole lot easier to fix the problem now, rather that once the home is complete. Builders found on Build In Warrnambool take enormous pride in presenting your home to you that meets your expectations – Get to know all of Warrnambool’s builders here. They want it to be just right for you, as you do!
4. FLOOR-PLAN IS KING
The majority of home owners value liveability, practicality and value. A great floor-plan with basic features will hold its value better that a poorly designed floor-plan with upmarket features. Natural light brings an innate quality and ambiance to a home that money can’t buy. Living spaces that are orientated to capture the natural light will add value to your home. If you find a floor-plan you love, a draftsperson or builder will be able to shuffle things around to maximises the natural elements. Drafting services and architects can be found here.
Or, explore our House and Land Packages from leading Warrnambool Franchise and Custom Builders. Please note that while each package includes a house and a block of land – neither are legally assigned to that package. You can build any house on any available lot even when a builder is advertising it as a package on buildinwarrnambool.com.au. Click here to read more.
5. BUILD FOR YOU BUT CONSIDER OTHERS
When building a home, of course you’ll build it to suite you, but it may be worth considering what you could do to ensure that your home is also attractive to others. There’s every chance that some day you’ll want to be on the move again and you will want your investment to grow in value and despite the years, still be an attractive option for the next person. By following a few basic guide-lines you can ensure your home ticks all the boxes for great liveability, practicality and value for money, both for you now but also for someone else into the future.
Whilst titled land enables purchasers to build immediately, savvy buyers continue to be attracted to the pre-sales phase of purchasing a block where the benefits to the purchaser are plentiful. In the pre-sales phase your ability to negotiate a price with the developer is at it’s best. The price agreed on now is set and the biggest benefit is of course that the buyer only pays for their block upon settlement after titles have been released, giving them some 6-12 months to pay for their block depending on the circumstances. There are many opportunities to purchase land during the pre-sales phase in all of Warrnambool’s housing Estates.
7. KNOWLEDGE IS POWER
There are so many advantages of building a new home that the majority of people aren’t aware of. At Build in Warrnambool we openly share knowledge. We make it achievable for people who have never been exposed to building to be in the home building market. This has nothing to do with building cheap homes and everything to do with building smart homes that focus spending on the areas that bring you the most happiness. Marketing is powerful, but education is power so jump on buildinwarrnambool.com.au and explore your options. The Blog is a terrific resource sharing only local knowledge. Read all about the advantages of building here.
8. BUILDING A HOME CAN HELP YOU BUILD WEALTH
Buy following a few basic guidelines, building a new home can be like buying wholesale in that you can often sell a new home for more than it cost you to build it. Building a new home can deliver instant equity enabling you to build wealth for you, rather than someone else. Few people are also aware that when you buy an existing home that you pay stamp duty on the full purchase price of that house. Depending on your circumstances that could be up to $24,000 on a $400,000 home on top of the purchase price. When you build a new home, you only pay stamp duty on the purchase price of the land. There is no stamp duty applied to the building. That could be $20,000 in your pocket!
9. DON’T RUSH IT
Buying or building a home is one of the biggest investments you’ll ever make so don’t rush it. Don’t settle for anything that doesn’t look right. Everyone at buildinwarrnambool.com.au believes in happy home building experiences. But that doesn’t mean that we don’t question things. Nor does it mean that we don’t go back and forth with our builder or draftsperson as many times as is needed to get things right. The right builder shares your desire to create the perfect home for you. Your happiness is their happiness so don’t hold back in voicing your thoughts. All builders at buildinwarrnambool.com.au understand that you need time to make the big decisions.
10. SPEND YOUR MONEY IN THE AREAS THAT BRING YOU THE MOST HAPPINESS.
Prior to meeting builders take some time to know what you would truly value most in your new home. This helps you to spend money on things that you value most and not worry so much about the things that you don’t. For example, having an alfresco area to enjoy balmy summer nights by the BBQ might add more value to your lifestyle than Italian tap-ware, glass splashbacks and porcelain tiles. It’s all about knowing what you value before you begin! The building advisory service at buildinwarrnambool.com.au can help you identify prior to your journey how your choices may affect the overall cost of your finished home. There’s lots of tricks for creating high value in a new home, you just need to know what they are.
CONTACT US FOR A CHAT
At Build IN Warrnambool we are always happy to talk ‘home building’ and answer any questions you may have.. Natalie Stevens, founder of Build In Warrnambool, can be contacted directly by emailing [email protected] or call anytime on 0407 889 458. For all land enquiries you can contact Sam Stevens from landinwarrnambool.com.au on 0408529843 or email [email protected]