So, you’ve decided you want to build your own home, great choice! While this is an incredible experience, there are many things you need to consider and understand when choosing your location. In this guide to buying a new build home, we’re going to take you through some tips for building a new home, as well as what steps you should take.
Building a new home is a fun and exciting time, so understanding the process is key. Darren Walters has more than 20+ years of experience in property and can help guide you throughout your journey. His no or low deposit new home system is designed to help renters access the property market and become homeowners. All without needing a hefty deposit.
So, read our guide to discover the benefits, tips, and tricks to buying a new build home.
Steps to Buying a New Build Home
Step 1: Find Out Your Borrowing Capacity
This is the most important step you can take because it will determine your budget.
Land prices can vary dramatically between suburbs. Knowing straight away how much you can spend means you won’t be held back.
It also means you can make more informed decisions without getting your heart set on something that you can’t really afford.
And the best way to discover your borrowing capacity is to complete our pre-qualification form. Our assessment is simple and gives you an extremely accurate estimate of your borrowing power.
All without actually completing an application or affecting your credit score at all. It’s simple and completely obligation-free.
Step 2: Secure & Apply
Once you know your borrowing capacity, your next step to buying a new build home is to secure and apply. This means finding the right block of land and putting in an Expression of Interest (EOI).
You’ll also need to work with mortgage managers and lenders to get your finance approval and home loan underway.
This is the step where we finalise your purchase price as well. When you get a full turnkey house and land package from No1 Property Guide, there are no additional building costs you’ll need to pay. The purchase price is the exact amount you’ll need to pay—no hidden surprises!
Once your applications are done and you’ve been approved, it’s time for step 3.
Step 3: Start Building
This is the fun part, now you get to build your new home. Of course, we handle all of the heavy lifting and the paperwork, but you still get to enjoy the process!
It generally takes 3-5 months, depending on weather, for a new build to be completed. So during this time you can work out what furniture you want to use around the home. Or even look over your floorplan and let kids pick out their rooms in advance.
During this step you don’t have to worry about anything!
How Does Building a New Home Work?
If you’re looking to build a new home on your own it can be a very confusing process. You’ll need to find a block of land, get surveys and soil tests done. And then you’ll need to find a builder you can trust as well!
No1 Property Guide takes the hassle out of it by handling all of these tasks for you. By dealing primarily in established estates, we’re able to find registered land that is ready to settle and build on.
So, all you’ll need to worry about is picking the right floorplan and organising your move-in day.
And, because our mortgage managers handle all of the finance side of things for you, you won’t need to worry about the intricacies of a building loan. We can guide you through the entire process step by step.
Some Things to Do When Building Your New Home
Now, while you’re waiting for construction to finish, there are still some things to do when building your new home.
First of all, try to keep yourself up to date with the build process. This will help keep your nerves under control as you’ll see each stage progressing smoothly one after the next. That said, try not to get too involved, your builders are experts, and they know what they’re doing. Trust in them to get the job done right.
Another thing you can do is pick out any new furniture and furnishings you want around your home. It’s hard to pass by the idea of getting all new furniture to match your newly built home. So don’t! Take your time to find some new furniture and furnishings that match the aesthetic you’re going for.
Just remember to try stay in your budget if you can!
Contact Darren Walters and the No1 Property Guide team to get started on your homeownership journey today.