Latest Blogs

Things to know before you build a new home

If you’re ready to take the leap into home ownership and build a new home, you’re in for an exciting ride. So many Australians dream of opening the door to their new home and beginning their life, rent free!

As with any major purchase, there’ll be a few anxious times. That’s perfectly normal. Just remember, don’t be afraid to ask questions. To get you on the front foot, we’ve put together a list of everything you need to know before you build a new home.

One crucial element to remember when building is timing. If you don’t ask the right questions at the right time – it could be too late to change anything. Keep reading to find out how you can make your venture into home ownership as smooth as possible.

Choose your builder

This is an ideal place to start for many reasons, especially if you’re a first home buyer. In a sense, a good builder will do a lot of the initial legwork for you.

Finance

Once you know your financial situation, you’ll be able to decide what type of home you can build and in what suburb. A good builder will help you navigate through the minefield of banks and mortgage lenders and set you on the path to finance approval. 

Qualified builder

Like any big purchase you make, you’ll want to look at who’s behind the product. Do they have a good track record? Have they been recognised and awarded in their industry? Choosing the right builder can save you a lot of headaches in the long run. 

Planning stage

Once you’ve chosen a builder you’re comfortable with, and you know how much finance you have available, you can start looking at your house and potential land options. 

House design

If you know the amount of space you’ll need – four bedrooms, two bathrooms, two-car garage – you can explore the range of home designs available online and go and visit the display homes. If you find that you like a specific part of one home and other parts of another home, ask your builder how you can customise your home. 

Customizing your home

Some builders offer customised designs so that you get exactly what you want. That means, if you want to move a room or add a bedroom, you can. Choosing a custom builder also means that you can position your home to suit the block of land, allowing you to maximise natural heating and cooling.

House and Land

If you want to take the hassle out of searching for a block of land, talk to your builder about a house and land package. Your builder will expertly select the perfect house to fit the shape of the block. With the builder doing all the hard work, all you need to focus on is where in Melbourne you want to live.

Cost of building your home

Your builder will outline how the cost of your new home is worked out. Essentially, it comes down to these key factors:

  • Site preparation costs
  • Size of your home
  • Multi-level or non-standard sizing
  • Fixtures and fittings

If you purchase a set design and decide to make changes, be aware that extra charges may be added.


Adding your style

Your home may come with certain inclusions however, if you decide that you want to choose a different benchtop, that’s perfectly fine. It’s your home, so you should be able to select the products you want. Ask your builder if they have a showroom where you can view all your product options. It’ll save you from spending your weekends visiting display homes. 

Communication
 

One of the most important things to remember when building a new home is communication. That means communication between yourself and the builder and between you and your family. You can never raise an issue too early. 

Hopefully, we’ve been able to ease any concerns about the building process and help you with your decision-making process.

For a more in-depth understanding of the building process, contact Opulent Finance today.

Share

Quote

captcha

Siraj Ahmed
Siraj Ahmed
2020-11-18
Verified review
Excellent service. Got us a great loan option and also worked with the bank to get the loan approved during the heights of COVID.
Dhruv Satra
Dhruv Satra
2020-11-18
Verified review
Malaka Ekanayake
Malaka Ekanayake
2020-11-10
Verified review
We have had a very pleasant experience working with Opulent Finance. We did not have that much experience with house loans as we were first home buyers but working with Opulent  Finance team specially with Ishara, made that experience stress free one. She helped us secure an incredibly competitive interest rate and offered her guidance so we can take advantage of the future interest rate drop. Thank you Ishara, Dayan and team for your incredible support and we have no hesitation what so ever in recommending Opulent Finance for your financial needs
Uma Gunaratne
Uma Gunaratne
2020-11-04
Verified review
Ishara is highly knowledgeable and if you are a first home buyer and new to the intricacies of all that home loans entail, she will really take you under her wing and impart her knowledge and experience and treat you as one of her own. She is also extremely patient but will also be very truthful and upfront in situations which is honestly what you need. She did a very complicated loan for us, and was so incredible efficient and organised with all the paperwork that was required. Not only that, she helped us secure an incredibly competitive interest rate! Ishara has probably spent hours and hours explaining to me details and giving me really good guidance through this momentous period in life! During the cooling off period and settlement, she was constantly chasing up our loan and honestly took a personal interest in the outcome. Our solicitor was also very happy about working with Ishara as she was following the entire process, was always up to date and very easy to work with. Considering that our entire process happened during the covid-19 lock-down and work from home environment, we have nothing but good things to say about how professional Ishara was as she didn't let a single thing slip. We are so glad that we have both Ishara and Dayan in our corner. We will definitely be using them for all future financing needs. Thank you Ishara, Dayan and team!
Harsha Ill
Harsha Ill
2020-10-11
Verified review
Opulent Finance gave professional advice for my unique home loan requirement. They respond quickly with the proper information. The process was smooth and I felt comfortable to deal with the team. The team is friendly and professional to deal with. Highly recommended for any one looking for finance.
S P
S P
2020-09-22
Verified review
I have been dealing with Ishara at Opulent Finance for over 6 months now and she has been faultless. She has helped me secure a loan pre-approval in no time and assisted me with my property purchases. I could not recommend Ishara highly enough.
Afshin Koohestani
Afshin Koohestani
2020-09-22
Verified review
Good service and offers.
Janaka Kumara
Janaka Kumara
2020-08-22
Verified review
A big shout out to Dayan and his team for the seamless service provided during the refinancing process. Thoroughly professional team that pays attention to every detail and has been extremely transparent throughout the process. A team that always has the best interest of clients in mind and makes all efforts to provide the right advise and outcomes to the clients. Highly recommended!
Rakesh Mistry
Rakesh Mistry
2020-08-19
Verified review
They called me back with solution
Indra Jaya
Indra Jaya
2020-08-12
Verified review