The Complete Guide For The Process of Buying Land and Building a House
January 17, 2020
Buying land and building a house is a process that is still commonplace in Australia. While land is at a premium in and around our capital cities, there are plenty of ideal new areas for budding homeowners to build and buy in.
So if your goal is to pick up a block of land and build the home of your dreams on it, follow this guide to make sure you get exactly what you want.
Not sure what to look for when buying land to build a house? Here, we walk you through the key steps to buying a block of land. Big or small, urban or regional, buying land is all about finding the right plot for your future lifestyle. Waterford makes the process of buying land easy – read on to find out how.
Draw up a List of Inclusions
Once you’ve decided that buying land is the best way to get the house you deserve, write down what’s most important to you. You don’t want to compromise on lifestyle, so start by asking yourself a few key questions:
- How close is the nearest public transport station?
- Which schools are in the catchment?
- Are there shops and amenities within walking distance?
- How many parks and recreational areas are in the vicinity?
- How far do I want to be from work, friends and family?
This will help you decide which suburbs are the best options, meaning less time searching and more time customising your dream home!
What’s Your Budget?
Unlike buying an established property, the process of buying land comes with a few different costs. That’s why it pays to organise your budget before you start searching for that prime piece of real estate.
Think about extra costs like state taxes, duties, fees and of course conveyancing. You’ll also want to have an idea of your budget for the home design and build. Speaking to a mortgage broker at this stage can make your life easier; they will advise you on whether to get pre-approval before your search begins in earnest.
Top tip: Since you’ll be building a brand new home on your block of land, you may be eligible for your state’s first home owner grant which can significantly boost your budget.
Get The Lay of The Land
When you’re buying land and building a house, the cheapest block of land isn’t necessarily the best. You’ll want to consider the land size and shape, the proximity to amenities, and if any obstacles such as trees or rocks need to be removed beforehand. These factors can affect the value of your future property and may even mean additional costs pile up during the build.
That’s why buying land in a master-planned community like Waterford is straightforward and transparent; you’ll be backed by an experienced builder who can walk you through the journey and answer all your questions. This means that the whole process, from buying land to building a house, is as seamless as possible. Whether you’re seeking land for sale in Maitland, or land for sale near Cessnock or Newcastle, learn more about the peaceful community of Waterford before you look any further.
Building a House
The Most Exciting Step: Choosing a Home Design
Unlike buying an established home where what you see is what you get, a brand-new home allows you to customise different elements to match your lifestyle. You’ll be able to work with a consultant on things like colour design, interior fixtures and fittings, and all the finishing touches to ensure your house turns out the way you always dreamt it would.
Here are a few questions you can evaluate before choosing a home design:
- Do you prefer modern style homes, or something more traditional?
- What spaces do you need to have in the home’s layout? Obtain the floor plan and measure the room sizes for yourself.
- Will your furniture fit into your new home?
- Does the design suit your lifestyle?
- What is included in the home, and what isn’t?
- Can changes be made to the home’s design?
- What choice of materials is available?
Paperwork and Deposit
Now it’s time to go through the building contract in detail – this includes both the written contract and the final contract plans. We recommend working with a legal professional at this stage, to make sure everything is included in the paperwork – you don’t want anything flying under the radar!
Once your contract is signed, it’s time to pay your deposit and send all the contract documents to your financial lender. Make sure to keep a copy for yourself in a safe place. Or even better, if your purchase is completed by signing an e-contract, that means you can save it to your personal devices and keep it stored in the cloud forever – so it’s always somewhere safe.
Meet the Community
Depending on where you are buying, you may get a chance to meet members of your new community before your home is even built. AVIDConnect, for example, is a customer service program for all of AVID’s master-planned communities.
AVID Property Group welcomes residents at official events to meet their future neighbours following settlement. AVID is available throughout the entire process, so if homeowners have any questions or concerns, there is a national customer service manager available. They will also send customers construction updates and drone footage to monitor their neighbourhood’s progress.
All The Action at The Site
After your block of land has been titled, work can get started on constructing your new home! There may be a soil test before the workers arrive on-site, before building is broken down into a few key stages: pouring the slab; putting up the frame; lock-up; fixing; and finally, finishing.
You’ll want to stay in touch with your builder throughout the entire process. Before you sign off on everything, you will need to attend the final inspection.
Inspections, Settlement and Move-in Day!
The build is complete and it’s almost time to start living your new life! Start by conducting the practical completion inspection and make sure you check every nook and cranny before signing off on the paperwork and paying the final settlement. This is a great time to book your move-in day!
Don’t forget about setting up your water, gas and electricity services with a utility provider. Once settlement day arrives, you can take the keys and enjoy a brand-new house no one has ever lived in before.
By breaking down the steps to buying land and building a house, you can find your dream home with ease and enjoyment. When you purchase land for sale in a master-planned community such as Waterford, the home building process is hassle-free with guaranteed access to amenities and friendly neighbours.
Waterford is an exciting new development set to become one of the most enviable suburbs in Chisholm, East Maitland. Enjoy natural beauty and spacious surrounds with all the convenience of stylish village living.