BUILDING a new house is one of the largest outlays you will ever make, and it deserves to be well considered and well researched.
The choices of what to build and where to build can seem endless.
For many purchasers, the option of buying into a master-planned estate relieves them of a lot of the worries about buying into an unknown environment.
Estates can promise to deliver consistent building styles, community and recreational facilities, schools and services.
Quite often there is also an expectation that you are buying into an area with like-minded people who have families at the same stage as yours, which can provide a reassuring element to the decision-making process.
However, there is often a premium attached to buying in a planned estate and all buyers should consider the value of the additional cost against buying elsewhere within that locality.
The long-term value of the property is also to be considered, as properties within estates are likely to hold a higher resale value.
Remember: research, research.
Consider who the developer of the estate is and then ask about past developments, particularly from five or more years ago.
Go and have a look at those estates and see how they are faring today; are they maintaining the "look" or has it disappeared over time?
Sometimes the toughest task is to look beyond the glossy brochures to be sure that the dollars you are spending are being spent wisely.
If you have decided that you going to build within a new planned estate you then need to be careful in selecting which block to purchase and whether you wish to use a home builder or build yourself.
You need to consider how you live today and then try and envision how you would like to be living in the future; do you need a large outdoor space, are your parents likely to move in, how big do you really need the house – remember the larger the house, the larger the utility bills.
When building in an estate there is an extra level of approval that you must go through before your building plans can be submitted to council.
The plans must be approved by the estate to confirm that they comply with the estate’s design guidelines.
If you choose to purchase through a home builder, check the fine print and understand exactly what you are getting, right down to the number of power points and where they are located.
If you want to vary the design of the house in any way, obtain a cost for those changes before you sign a contract as you may find that there is a more cost effective house from a different supplier.
Make sure you consider the orientation of your block of land and how the house will sit on it.
You want a northerly orientation to get plenty of sunlight into your garden areas and to flood into your living spaces.
Without good access to the sun, your new house may feel dark and cold.
Most importantly, make sure you understand what you are buying.
If you are not sure of the terminology, or if you are not comfortable reading plans, ask for help either from the building company or from a professional.
Have a solicitor go through the contract with you.
Read all of the fine print.
Remember, this is a very large purchase and you want to make sure that you have dotted the i’s and crossed all the t’s.
For more information visit: redblue.com.au, or call 9114 6767.
