A New Home: Things You Need to Know Before Building It

by Jamie Dawson Marketing Manager

Building a home is always a thrilling yet daunting task! If you don’t have money for building the home, you will need to take a residential home loan in Brisbane to build one. Although if you already have a budget ready for that then for your builder it is a routine and you need to be an active participant in all aspects of your home building process to ensure that you get your home that you have imagined.

Building a new home cannot be a submissive exercise, because there are so many decisions that you need to make by yourself. If you are unable to make such decisions then you will force your builder to make them. Through this decision, your home won’t turn out the way you imagined it or cost what you thought.

So, here are the 5 number of things that you need to know before building a new home.

Calculate everything

Before you build a house go through a bunch of calculations to determine whether you can afford to build your dream home or not. Most of the house plans offer a cost to build a tool to give you an accurate estimation cost of construction based on where you are building. These includes cost of construction, benefits in tax, funds for down payment slush account and many more.

After determining that you can afford to build the home, just purchase your house plan and head straight to the bank to gather some finance. Also, keep in mind that home construction lending is different from regular mortgage financing. First, you will need a home construction line of credit that will be used to pay the subcontractors and suppliers that works for you and providers supplies. After your house gets constructed, you will need a residential mortgage to pay the construction line.

Reputation of builder

There are many builders out there, but not everyone is perfect. Before handing your dream home to any builder, do a little research to find out which builders have the best reputation. In order to get a builder that does a quality job, it is best to get information about them or get recommendations from your family and friends. The best idea is that you only hire builders that are members of the National Association of Home Builders (NAHB)

Think eco-friendly

If you are building a house, think about adding some energy-efficiency design to it. Remember to install windows facing South to get much more sunshine as possible. Also make sure that your bathrooms, garages, and laundries are also facing South and have small windows to minimize the heat loss. Gather information on your insulation and HVAC system and energy-efficient appliances by doing simple research on your smartphone. That’s it!

Build with a resale in mind

It is unlikely that it will be your last home you will ever own, no matter how much you love the house. So, keeping that in mind, build your house with its potential resale value. Don’t add many upgrades that are overpriced and also don’t choose anything that is too fancy. Just ask yourself, if the features added will worth appeal to other people or not?

Do not forget the punch list

When your home is almost got ready, don’t forget to go over your punch list. Basically, it is created at the end of the construction that shows tasks that still need to be done and things that needs to be repaired. You and your contractor will create this list a week before closing when you walk through.

That is the reason you will need a punch list to check what works are done and what is still left. However, during this phase, you are short on your budget then get your loan approved by hiring a home loan broker in Brisbane and see your home build as you visioned!