With so many offers on land for sale around Werribee, your dreams of building a custom home are within reach. You can now have that private space that you’ve craved for all your life. Instead of paying out a fortune in rent, you can use that money to build equity in your expensive new house.
However, you need to address a few crucial factors before you can join the growing rank of successful homeowners.
1. Pick out the best lot.
It’s easy to go after the most affordable lot on the market as a cost-saving measure. From a distance that might seem like a good idea but you need to choose the lot carefully before committing to the sale. Sellers often use pricing advantages to get rid of unattractive lots.
You need to be sure that you’re not falling for that gambit. Such lots are likely to cost you a small fortune in preparation costs before you can begin the construction process. Factor in the availability of utilities and public services such as water, sewerage, and electricity.
If they are not readily available, you’ll have to make a private arrangement, which comes at an extra cost. Having a land expert inspect the lot before the purchase is a wise decision.
They can give you insights into the amount of work as well as the costs you’ll incur to get the site ready for constructions. Although there’s a cost implication in hiring one, the potential savings more than makes up for it.
2. Set the construction budget.
Going about the home construction process without a set budget is a recipe for disaster. It’s also an indication that you haven’t quite thought the process through. Setting a budget lets you narrow down on the type and size of a house to build. It also determines the type of materials to be used to build it.
More importantly, it helps you decide how much money you have for the project and how much you need to borrow from the bank. It’s one thing to realise the dream of owning a home and another to ruin your finances in the process.
Going about it without a budget can cause you to be overambitious and incur hefty mortgage payment each month, which could ruin the entire home owning experience.
3. Pick your team carefully.
Once you’ve picked out the right lot and chosen the perfect floor plan, it’s time to begin the construction process. Your choice of a builder is crucial to the successful completion of the house.
Therefore, you should go to great lengths to vet the building company to ensure they are capable of doing a swell job. Don’t stop at just looking at their website but make a point to visit a few of their complete and ongoing projects.
As for recommendation and referral, you need to hear people’s account of working with the builder. Given the high stakes involved, it’s easier to err on the side of caution.
Getting the perfect piece of land is the first step towards realising your dreams of building a home from the ground up. In addition to making the right choice when buying a lot, you need to address other crucial factors that lead to a successful home-owning process.