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Step 4 – Time to pause. How best to get your lifestyle home plan built as you want it stress free.

There are a couple paths you can take from here.

  • Choose a builder and their “standard”, “adjusted” or “designed for you” house plan, knowing that you are then totally committed to that builder, without the advantage of competitive quoting. You also need to be confident the home and inclusions you will end up with will match what you thought you had bought.

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  • Choose or design your home with a totally independent professional, nominate your inclusions in your home, have it quoted by local builders of your choice, choose the builder you want based on price + quality + trust, then have someone independent there to hold your hand, right through the building process, just in case you have any concerns, all at no additional end cost.

Choose the path from here carefully to avoid stressing the relationship that is the very reason you are building your new home.

 

 

Step 3 Choosing Lifestyle for the new home you plan to build for your family.

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Finance is approved and you have decided to build your new home.

Many of us then rush out and look at every display home and open house, looking for the ideal home, or worse still, buy a block of land with little research into how we can achieve the lifestyle we crave with the budget we need to work with.

Great to look at display homes etc for ideas, but remember that all builders’ plans are copyright protected and can only be built by that builder, regardless of the changes you might make to them. Good idea to see what land is available, but no sense buying a great block by the ocean or a bush block located a distance from your work and other activities, before knowing the lifestyle home you will want on the site will work to your budget. Possibly, with your busy lifestyle, a smaller site closer to your activities will better address your budget and lifestyle needs.

Always good to have someone with building savvy, and who is also totally independent, help with sorting this. If you already have the land then a great home which addresses your lifestyle can be designed and built on almost any site, provided the budget is balanced at the same time.

Lifestyle!             The choice is yours.

Step 2 – Renovate or build new to create your home design within your available finance.

Ask yourself “why do I want to change how or where I live”?

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Your present location works well for you, so a makeover or renovating existing home is possibly a great option. Obviously you recognize the increased cost per square meter of renovating compared to building new, and while a renovation will allow you to stay in the present location, there will be design restrictions depending on the layout and age of your present home.

Many have found the most realistic solution is removing the existing home, then, with total flexibility of design and control over the cost per sq m, design and build their dream home right where they now live.

Check, that if you later need to sell and relocate, renovation costs will not make it difficult to sell at a fair market price due to over capitalization.

If possible, remove emotional attachment to your home, and as a final check, compare the extra cost and inconvenience of renovating, to demolishing or selling, and building new.

Watch for step 3      Thumbs up

Step 1 – Finance approval for your lifestyle home or renovation

You've made the decision to renovate or build a new home, but where to begin?

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You might have been stacking the dollars away so finance is no issue, but most of us need to arrange a loan. While it feels great to dream about the home you would like, checking your borrowing ability is the Savvy thing to do before you get too far down the track with land and home designs. There are multiple options for finance, but a quick appointment with a licensed and respected mortgage broker will cost nothing and as they have access to multiple lenders they can guide you in  identifying which bank or building society has the interest rates and conditions most suitable to your personal situation. The broker can also help you to confirm that the repayments will be within your comfort zone, before arranging for preliminary approval documentation with the lender of your choice. 

Watch for step 2

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