So, you’ve decided to buy land to build your dream home. Great! Now what?
Where do you begin? Luckily, we are experts, and we have a few suggestions of things to consider to ensure you find the block of land that is perfect for you!
Get started with this essential checklist that will help you find the perfect block of land for your dream home.
Know your finances.
Consolidate your savings and prepare your spreadsheets with your expenses, it’s time talk to your bank or financial specialist for a pre-approval. This is an indication from the bank of your borrowing capacity (the amount the bank or financial institution is willing to lend you). This amount is based on your income, deposit amount and other expenses.
From here, you will have a better understanding of your overall budget! This is an important step as it allows you to search for your house and land confidently, knowing what budget you have to work with.
Don’t forget to put aside some funds for stamp duty and other taxes like Lenders Mortgage Insurance (LMI).
Find the perfect floorplan.
The size of the lot you purchase will determine the size of the house you can build.
Determining the size of the floorplan you need helps prevent you from overpaying on the land component as you won’t be paying for excess land you do not need.
A checklist with your ‘must-have’ and ‘negotiable’ items is a great way to get started. Answer questions like:
- How many bedrooms and bathrooms do you need?
- Are you looking to build a single or double-storey?
- What design features will make your life easier? A study or working from home space, walk-in pantry and large bench, alfresco for outdoor entertaining?
- Are you looking for something low maintenance or would you like a big backyard with space for a pool or garden shed?
Visiting display villages and speaking to building consultants will help you choose the right floorplan to suit your family’s needs.
Is north facing the best orientation?
The orientation of your land and floorplan is another important consideration. From a builder’s perspective, north-facing land in Fraser Rise allows maximum sunlight throughout the seasons. With the sunshine facing onto the main living areas, this will passively heat your home during the colder months, helping you save on your electricity bill. The placement of windows can also have a significant impact too!
Finding a community that complements your lifestyle is the next all-important step.
- Do you want to be able to walk to local shops and cafes?
- Do you want to be close to an abundance of parks, open space and cycling and walking trails?
- Are you planning on starting a family and need to be close to school and early learning centres?
These are all important factors that should be considered when looking for the ideal community to call home. The key point is that you decide what factors are most important to you. We may be biased but Botania ticks a lot of those boxes!
View Botania’s enviable location in Fraser Rise here.
We hope this checklist has provided you with some helpful information to assist you with your new home buying journey.