Being a first home buyer is incredibly stressful. After years of hard saving to make up that all important deposit, you have to then spend your weekends at auctions getting outbid by downsizing baby boomers – it’s easy to get disheartened, especially in Sydney and Melbourne. For this reason, many young people are beginning to build their first home, rather than buy out of their budget. Before you commit to building a new home in Melbourne, here’s what you need to know:
- Choosing your block:
As far as first steps go, this one is very important. The block of land you choose should be in an area that suits your lifestyle. It can be hard to find affordable land close to the city, but try to buy in towns with infrastructure like supermarkets and public transport, especially if you’ll be catching the train to work. This way you’ll save money in the long run, because you won’t be spending hours in the car every day.
The block itself should be big enough for the home you want to build, with room for a garden if you want one. Sloping land will cost more when you begin to build, because you’ll need to do significant earthworks before you put your home on the land. There may also be council restrictions on how much you can cut out and fill the land, so do your research!
- Research your builder
They’ll be responsible for turning your dream into a reality. Whether you’re buying into an off the plan community, or you’ve got a block in an already established neighbourhood, it’s important to get a feel for the quality and style of any builder you consider using.
Where possible, visit display homes or any other projects they’ve worked on. Ask for testimonials from their previous clients, so you’ll know what to expect before they begin building your home.
- Plan your designs
Considering the whole world is shifting toward energy savings options, this is an excellent opportunity to build a home that is energy efficient and economically designed. Whether you choose to have double glazed windows, or a heating system that is specifically intended for solar power, you’ll be saving yourself from having to install these energy saving measures in the future.
You’ll also have a home with less maintenance issues up front – you won’t have to put any money into fixing up your home over the next few years. In fact, if anything does break, it will most likely still be under warranty.
Building a new home in Melbourne is a great way for first home buyers to get a foot in the door. Whether you buy the land, then continue to save before you begin building, or buy a package deal, it’s often a cheaper option the buying an established home. If you’re looking for a house that you and your family can live in for decades, then this is the option for you.