Building a new home on the Sunshine Coast in Australia may look like a daunting task. There are many things to consider when building your dream home.
It is one of the biggest investments the average Australian will make during his/her lifetime.
Even the slightest mistake can waste your hard-earned money and increase your stress levels. Getting your plan in place is the first thing you need to do when building your dream home.
This article highlights some of the most important things to consider when building a home on Queensland’s Sunshine Coast.
While a detailed building plan is essential when building a new home, one cannot underestimate the importance of a realistic budget for the project.
It’s important to budget more than you expect because you need to plan for unforeseen circumstances when building your very first home.
No matter how much you think your home building project is going to cost, it is likely to cost more. Your Sunshine Coast builder may not include items like landscaping, outdoor concreting, gates, fences, and decking in the estimate.
You should always add at least 10-15% extra to your original budget when building a home.
The next step is to get your financing in order. Do you plan to get a home mortgage for the project? If so, you need to prepare all the documents and check your credit history and credit score well in advance.
Checking these things in advance will help avoid last-minute problems and guarantee a smooth project. You should also remember that a construction home loan is structured differently compared to a regular home loan.
The lender will release the funds in periodic payments to the builder depending on how much the builder needs for each stage of the project.
Prepare a detailed construction plan with all the costs involved in the project before you meet the lender to apply for the loan.
The next step is to choose the right home builder to build your new dream home. The wrong decision can ruin the entire project and waste your hard-earned money. No matter whom you choose, you will have to work with the builder for many months until the project is completed.
That is why you need to pick a reliable and experienced home builder in the area the first time around. The credentials of the builder are important.
Make sure the builder is licensed and fully insured. Working with an insured builder helps protect your building and the contractors working on the project in case something goes wrong during the process.
The builder should be a member of a professional building association like the Housing Industry of Australia. They should also have several years of experience in the industry.
Don’t forget to check the potential builder’s past work and customer feedback. Were the previous customers satisfied with their work? Ask the builder for references before you sign the contract.
Go through the contract carefully and understand its content before you sign on the dotted lines. These are some of the most important things to consider when building a new home.