Buyer's Guide to Building a New Home in 7 Key Steps
Are you looking to build a new home but unsure where to start? Any major journey comes with bucketloads of questions. This one is no different: you’ll probably ask yourself where you should build, how much it costs to build a new home, and what you need to do first.
Not to worry — Maidment Group is here to help you. In our guide to building a new home, we’ll ensure you understand the most critical steps in any home-building journey. Let’s dive into it so you can get started building your perfect home!
Building a House is a Big Endeavour — So Where Do You Start?
The first question to ask at the very beginning is: are you ready? Emotionally, logistically, or financially, building a house is no small endeavour, so make sure you’re prepared.
Not only will you have to conduct extensive planning and consult with professionals, but you’ll also have to get your financials sorted. Whether that’s getting pre-approval for a home or construction loan through Maidment Group’s team of mortgage brokers who can guide you through the intricate steps and requirements of building a home — you’ll need to make sure you can manage the responsibility.
Now, without further ado, here is Maidment’s guide to building a new home.
Step 1: Choosing Where to Live
Research the area you want to build to see what’s on offer and at what price.
Consider these crucial elements of the locations you look at:
- Distance from major shopping precincts, essential day-to-day services, and amenities.
- Proximity to child care, primary and high schools, playing fields and sporting facilities.
- Transport services and links.
- Lifestyle conveniences.
- Environmental conditions and weather.
Step 2: Financing Your New Home
This step is best done before making any applications. If you’re taking out a home loan, work out your borrowing capacity and seek independent financial advice to find the right loan for you. We recommend consulting one of our mortgage brokers — their job is to help you find the most competitive loan rates from the right lender.
Next, do your research and understand all the costs of building a house and how much you can afford to borrow — this will depend on your lender, your ‘risk’, and other elements like your credit score. Getting the right loan means considering and budgeting for all your financial commitments and ongoing costs, lifestyle expectations, and allowing for contingencies for unexpected expenses.
Step 3: Choosing Your Block of Land
If you’ve already found the location you want to build in and you’re sure you’re prepared for the financial commitment of building a new home, it’s now time to buy the block of land to build upon.
When you choose your block of land, take the following factors into account:
- The size and shape of the block.
- How the home will be positioned on the block and street.
- Zoning local building regulations.
- Design essentials such as lighting, exposure, outdoor areas, etc.
- The standard of housing in the location.
Step 4: Selecting the Right Home Design
Once you’ve chosen a community and considered your land options, it’s time to decide on the home design that complements your needs and lifestyle requirements.
Here are the most important design elements and questions to keep at the forefront of your mind:
- The amount of space you and your family need.
- Does the design match your lifestyle?
- The floorplan — decide whether you’re going for a more open or partitioned floor plan.
- Consider whether the design is cross ventilated to keep you cool in summer.
- Natural light — check the positioning and size of the windows and the direction they face.
- Passive design — along with windows, ensure your building materials suit the climate. For example, in North Queensland, you’ll want materials with good insulation against the heat, which still lets in good natural light.
Step 5: Getting Approval for the Build
Before your builder commences with construction, you may need approval from local authorities. This includes submitting your plans and receiving a building permit — additional expenses such as taxes may also apply. With Maidment Group, you won’t have to worry; we can help you navigate all the requirements for building a new home.
Step 6: Construction Time
Once construction begins, you’re truly in it for the long haul. Though letting your builder take care of everything might be easier, you’ll have to stay involved and check in for regular updates and even site visits. Staying engaged in the process will prevent problems stemming from miscommunication and make sure your home is built to your standards and expectations.
That’s why at M Homes Townsville, through the life of your build journey, our team will use Buildertrend, our construction management software, designed to increase collaboration, transparency and communication between the mhomes team, trades, and you the home owner.
Step 7: Final Inspection and Handover
The last major step in the building process is the inspection and handover — where the title of the new property will officially and finally become yours. Your final inspection of the completed house will ensure that everything has been built to plan, to code, and with the right quality of workmanship. Once you’re satisfied with the work, the house is handed over to you — and now comes the best part; the time to move in and start making it a true home!
Consider a House and Land Package
If all those steps seem like a lot for you, consider alternatives, such as house and land packages, which are convenient options that get you a block of land to build on and a home design all ready to go. Here are some quick advantages of these packages:
- Simplified process — there’s no need to coordinate separate builders, designers, and land sellers.
- Customization options with various home designs.
- Cost efficiency: The price is often more flexible and cost-effective than purchasing a block of land and building a home separately.
- Growth potential: Many house and land packages are located in new development areas, often seeing significant growth over time. This means your new home could increase in value, making it a sound investment for your future.
Build Your New Home with Maidment in North Queensland
Building a new home takes time, money, effort, and patience. But with our new home guide, you’re now prepared to get started and make the most of it! If you’re in North Queensland and can’t wait to build a new home, let us guide you through it in real life! Explore the range of house designs ready to build and convenient house and land packages we offer. We want your new home building experience to be as enjoyable and stress-free as possible. We’ll transform the complex new home process into simple steps and help you create the home of your dreams.