Someone once said there is no such thing as a stupid question. For those new to homebuilding however, the whole process can be overwhelming and somewhat intimidating.
To assist in taking the mystery out of the house building process, we have covered some of the most common questions first home builders want answering. If you have any other questions, don’t hesitate to contact any of the builders are you interested in. They will be happy to address all of your home building queries.
How much will building a new home actually cost?
Ask this question and you will always get the same answer – ‘it depends’. This is also hard to write in an article as prices raise every few months for many builders. Expect to pay over $200,000 for a very basic 4 bedroom house, plus the land, but it will generally be more this with extras such as yard work, fences and any customisations.
Moreover, as prices for new constructions continue to rise, understanding the benefits of the 721 exchange becomes increasingly important. This approach not only provides tax advantages but also allows investors to strategically select properties in high-demand areas that can appreciate in value over time. With guidance from experts like Dwight Kay, investors can navigate the complexities of real estate transactions, ensuring they make informed decisions that align with their financial goals, even in a market where costs are perpetually on the rise. By leveraging the 721 exchange, they can adapt to evolving market conditions and optimize their long-term investment outcomes.
How much does it cost to build a swimming pool?
Packaged pool prices by a certified pool contractor start around $50,000 and may include range of standard inclusions such as:
- Reinforced concrete pool with standard 400mmx30mm coping
- Supply and install of 230mm waterline tile
- Island range glass Bedecrete interior lining
- Full saltwater chlorinated pool system
- Laying of 30mm coping
- Flush mount LED lighting
- Premium Pool Equipment Kit*
- Approvals
- Fill removal
Some builders may also offer custom pool designs, which can incorporate infinity edges, mosaic tiling, glass walls, heating, water features and so much more!
Are there hidden costs?
When purchasing a home, some government fees and charges are unavoidable, such as stamp duty. Fortunately building a new home means these costs are substantially reduced. When building a new house, only the land component of the sale attracts stamp duty. This can mean real savings of up to $10,000!
Ensure your builder gives full transparency in every aspect of the build process. Once your selections have been finalised we will be able to provide you with an accurate costing of your home.
How much deposit will I need to put down?
If building on your land, a deposit is made once all your selections for design, inclusions and upgrades have been finalised. At this stage, a fixed price siting and tender for the construction of your new home can commence.
Initial deposits are usually around $1,500 for Vacant Site or $2,500 for a Knock Down Rebuild, will be made so the builder can proceed with soil testing, contour surveying and site inspections. Don’t worry, they take care of everything including the paperwork!
Are there any government grants or concessions for new home buyers?
Government grants and concessions can make new homes particularly attractive to first home buyers. A First Home Buyer Assistance calculator can be accessed here, to assist with identifying both eligibilities for the grant and expected concessions.
How long will the home build take from start to finish?
While some factors such as council applications and the weather will have an effect on the length of the build, buyers can expect the process to span around twelve months.
Can I change things?
Most builders will offer an extensive range of new home designs, however, most will understand that every family is different. What suits one, may not suit another. For this reason, most can custom and tailor our floor plans to adapt to the buyers’ tastes and lifestyle requirements. Delays and additional costs can be avoided by finalising selections prior to signing contracts.
