How to Finalize the Location of Your New Home

Choosing the home of your dreams can be a nightmare decision for a person. It takes so much effort of putting in the research work, visiting sites, dealing with the agents. To go this daunting process, follow the steps below:

• Start by looking at the accessibility and the proximity factor around the site you find attractive.

You would like to have a house from which transportation is easy, cheap and should be somewhat close to the airport or railway stations. Check whether the school is closed for your kids, and shopping centres and grocery shops.

• Next on the list is fixing a budget. Factors like conveyancing, state taxes, duties and fees should be taken into account. Choose the right type of loan to suit your needs and obtain a pre-approval by contacting a mortgage broker.
• Now it’s time to find the block of land in your desired area. It’s always thankful to get away with a cheap one however, you should consider whether you are ready to compromise if you find the land to be irregular, fall on the lot, positions, orientation, proximity to major roads, ease of access, whether the lot is titled or not. Check how the overall streetscape gets impacted by the Estate Design Guidelines.
• With the land now meeting your fancies, it’s time to decide the home design and builder choice. Select the floor plan, façade to it on the lot, appoint a colour design consultant to get the interior designing, fittings and textures done. Be cautious not to fall for the extravagant stuff that might affect your budget.
• With this its time for the building agency to take over. Design your home with all the latest upgrades as per your budget, including the final site costs in the Building Contract. It is almost mandatory to have a written contract in case of any future discrepancies.
• Once the piece of land has been titled, it is high time for the builder to conduct a soil test and report any site costs as per requirement. After receiving the external approval, such as formalizing unconditional finance approval, obtain the building permits. Contact the building supervisor to initiate the building process.
• As your Dream home starts to take shape, a percentage of the overall contract value would be invoiced as per required slabs, frame, lockup etc. After completion, builders will schedule Practical Completion Inspection.
• Now as the building process and final inspection is over with all the finishing touches, the arrangement for the final settlement payment has to be done. Then finally you have the keys to your new home. It’s time to settle!!!