TIPS AND TRICKS FOR BUILDING YOUR FIRST HOME

Tips and tricks for building your first home:

1. Buying a cheap block of land doesn't necessarily mean you are saving money - they could be cheap for a reason and may require extra site cost.

With this said, how do I buy the right block of land?

• Try and pick a block that needs little work done to it to minimize cost and save time - a block that needs rock removal, has lots of fill and has significant fall can end up being very costly.
• For resale purposes try and avoid building within 1- 200 metres from powelines.
• Standard soil classifications can either be M class H class or P class.

M Class - is generally the cheapest to build on.

H Class - generally requires a thicker slab or piercing the slab.

P Class - generally requires piercing, deepend edge beems, and can come with significant site costs.

Where to buy a block of land?

• Is your land close to a freeway, hospital, train station and school? These factors can affect the resale value for your house and convenience for yourself or your tenants living in the home.
• Research the local community and estates you are looking to build in to find out any limitations or requirements they may have.

2. When choosing your builder/sales consultant make sure you ' click ' with them and feel comfortable. You will be working closely with them over many months and having a consultant you trust and enjoy speaking to will make your building process much more enjoyable.

3. If you are eligible make sure you utilize the first home buyers grant. In Victoria this can save you over $ 10,000 and sometimes even more on transfer fees. If you Build in a regional area you will get $ 20,000.

"One important area to understand is the difference between buying a block of land that is already built and registered, versus buying off - the - plan." He explains.

"When buying off - the - plan, you are purchasing a block that has not yet been completed, so you may not be able to physically inspect it right away. The advantage of this type of block is that you have a little more time to plan you new home and may even be able to save a little extra before the block is finished and the title is registered."

Initially, first home buyers Chiranjeevl Metyam and his wife Bhavani Kurru planned to buy an established home, but after many wasted weekends over the course of a few months, they began to realize that their vision of their perfect home didn't exist on the market. Floor plans were wrong, the location didn't suit, or the price didn't match their budget.

They decided to build to get a home that ticked all the boxes. They've now just celebrated the first year - and their first baby - in their four - bedroom in Stockland's Allura Estate in Truganina, Victoria. The young family are happy in their brand new home, and say that they are doing thorough research beforehand to prevent the process from becoming a nightmare.

We will be exploring the pros and cons of buying land in our upcoming articles.

Thanks for reading!

Steve McMenamin