Top 10 things first home buyers must know | Paramountbaldivis

 Entering into home ownership is such an exciting time! Many first homeowners are choosing to create instead of buying a longtime property. Building gives you the power to customize your home and eliminates the necessity for costly renovations – in many cases it also allows you far more value for money!

To help make your entry into first home ownership as smooth as possible – we’ve put together an inventory of the highest 10 things you must know before you build your first home.




1.Budget: Prior to stepping foot into a display – it’s an honest idea to work out your budget, nothing worse than finding the house of your dreams then realising you can’t afford to create it. A licensed mortgage broker can assist you obtain a complete analysis – an important breakdown of fees including: settlement agent and loan. you ought to also consider creating your own budgeting breakdown, which can assist you to work out what proportion you'll afford to spend, ask yourself;


1. What is my current Income?

2. What household expenses do I have?

3. Do I even have any pre-existing debt/loans repayments?

4. Where will I live during the build?


2. Builder: Selecting a home Buyers and builder for your dream home doesn’t have to be overwhelming. We recommend you think about the subsequent when choosing a builder;


1. Reputation: Ask your family, friends and colleagues who they built with – don’t just believe online reviews

2. Pricing: Consider the worth range of varied homes

3. Agreement of fixed charge contract: Sounds logical enough, however some people get caught out and go overflow budget by not securing one among these

4. Flexibility of designs: A driving factor of building a replacement house is having the power to customize your home design.


3. Home Design: Understanding your home’s needs and dealing out your “must haves” can assist you to work out what kind of home design will suit you now and into the longer term , consider;

1. Style of home

2. Single or double storey

3. Level of energy efficiency

4. Open plan living

5. Number of bedrooms

6.Other areas (e.g. activity, office, outdoor)

7. Storage areas


4. Land: The size of the block will generally influence the planning of your home and therefore the maintenance required.


5. Land Developer: Believe it or not we didn’t just throw this one into the mix! Developers are liable for planning, designing and ultimately creating the community you'll sleep in. search for a developer who has;


1. A good reputation/history

2. Positive word of mouth

3. Values which align with yours

4. Industry Awards recognising their work – whether it's how they create a community or their approach to sustainability

5. Driving around communities is often an excellent way to understand a developer and obtain a pity for how they plan and contribute to their communities.


6. Location: ​​Choosing a location which suits your lifestyle needs is basically important – being surrounded by family and friends can also be a driving factor when it involves selecting somewhere to nest; we’ve written an entire other blog here about the way to find your perfect community.


7. Inclusions vs expected inclusions: These days homebuilders have a reasonably comprehensive list of inclusions and added extras when it involves building, however it does pay to clarify exactly what's included – this may assist you to avoid any unexpected additional costs. Some common misconceptions about inclusions include;


1. Site costs

2. Driveways and crossovers

3. Light fittings and floor coverings

4. Fencing and landscaping


8. First Home Owners Grant: The first homeowners grant may be a good way to help you with stepping into your first home if you meet the eligibility criteria – It can vary from state to state.

Find your state below;

1. NSW

2. VIC

3. TAS

4. SA

5. WA

6. ACT

7. NT


9. Deposits: Banks generally such as you to possess a between 5% and 20% deposit of genuine savings (depending on your individual circumstance), this shows them that you simply are capable of saving.

Banks have varying requirements counting on your deposit amount, such as; Lenders mortgage insurance (LMI) which is a premium that the banks charge, allowing them to hide their costs if you have to default repayments.


10. Repayments: It's best to pay your repayments consistent with your pay cycle , ie. If you get paid fortnightly – set your home equity credit repayments up to deducted fortnightly. you do not want to be holding onto extra repayments for an additional fortnight once you do not have to – you would like to undertake and reduce the interest as quickly as possible. 


Throughout the entire construction process, loan repayments are interest only and are generally only payable monthly. Once you physically enter the house you'll then have more flexibility over the repayment structure.


We hope that we’ve helped you on your thanks to owning your first home – you'll always visit one among our Sales Centres for more information. We like to see all of your new homes taking shape – don’t forget to tag your pics on social media using #Paramountbaldivis or your community hashtag so we will follow your building journey.

Land for sale at Paramount Private Estate Baldivis will suit everything from a big, family home with a generous back yard to compact, low-maintenance homesites ideal for those looking to downsize, or first homebuyers wanting to get established in the property market. There are also modern townhouses, apartments, an integrated retirement village and a local shopping centre.



More information: 

Website: https://paramountbaldivis.com.au

Location: Baldivis Rd, Baldivis WA 6171

Email id: andrew@spatialproperty.com.au



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