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Whether you’re single, have a partner, married with a small family, you’re needing to upsize to accommodate your growing teens, or you simply want to build an investment property, purchasing a house and land package is one of the most economical and efficient ways to create an asset for your property portfolio, and build a home you love.

Location

House and land package
Once you’ve decided on the area you’d like to purchase a home in, it’s important to research not only the available house and land packages, but also the key infrastructure your family will need to utilise. Things like proximity to schools, shops, medical centres, and public transport should all factor into your decision to focus on a particular area to buy in. If you have a young family, or are planning to have children in the future, make a note of the amount of green space, parks, and public gardens in the area so you can all enjoy the outdoors without having to travel too far from home. When looking at areas to purchase a house and land package in, have at least two or three suburbs you like in the event that there aren’t any packages available in certain areas – it’s always good to have a back-up location you love just as much!

Land Size and Shape

House and land package
When you’re working with your builder to find a suitable house and land package, don’t forget to carefully consider the size and shape of the land, as this will determine the cost and build time. A larger piece of land will allow for a bigger home, which will raise the cost and possibly increase the build time. However, you also need to think about the land shape as well. A corner block may affect the orientation of the home as well as the size of the dwelling the council will allow. If the land is located in a hilly area, you may incur additional costs to excavate land and build retaining walls, or you may have to choose a split level home to suit the slope of the land. Do your research to fully understand the geography of the area you’d like to purchase a package in to ensure there are no surprises when you’re ready to sign your contract.

Home Design

House and land package
House and land packages come with a recommended home design that the builder has selected because it suits the shape and size of the land. They will be able to show you the floor plan of the home and work with you to modify the plans to suit your lifestyle and outline any added costs this may add to the contract price. To get an idea of what the home will look like, visit display homes built by the builder to see the quality and craftsmanship in person, gaining an understanding of what the standard inclusions are. It’s also a good opportunity to check with the builder about what isn’t included in the package, such as driveways or landscaping.

Administration and Paperwork

House and land package
One of the biggest benefits of buying a house and land package is that you’re working with one builder and signing one contract to purchase both the land and have the home built. When you’re searching for land on your own, you’ll have to do all the legwork yourself, from finding the land, getting it surveyed to see if it’s suitable to build on, contacting the council to get permits, then sourcing an architect to design the home, and find a reputable builder to actually build the home for you. This will make the process lengthy and time consuming for you, and can lead to a lot of unnecessary stress. Working with a builder to find a fixed price house and land package that’s already titled and ready to build on alleviates that stress, any additional costs, and gives you a support system from the start of your journey to the day you receive the keys to your finished home.

When you’re ready to purchase a home, considering a house and land package will make the process a lot easier and more economical for you and your family. Relieving the burden from you and finding a package in the location you love, as well as working closely with your builder to bring your dream home to life will make the search for the perfect house and land package an invaluable experience! To find a builder local to you, or to browse our available house and land packages, head to the Hotondo Homes website today.

When you’re building a new home, so much careful consideration is given to the high traffic areas of the home. Kitchens, living and dining areas, and bedrooms feature heavily as part of every family’s daily routine. But what about the bathroom and ensuite? These rooms were traditionally seen as utilitarian spaces with simple décor that were functional and bland. These days people are putting more thought into how they can design and style their bathrooms to emulate that luxury hotel feel at home. We’ve got some great tips on how you can design a bathroom that oozes style while still being functional for every family member!

Layout

Bathroom
An efficient layout is key to any bathroom. Consider how many people will use the main bathroom when you’re building your home, both now and in the future, particularly if you’re thinking about having kids. A family bathroom will need space for people to move around in, whether it’s adults bathing babies and toddlers to tweens and teens fighting over sink and bench space in ten year’s time. Work with your builder to ensure there is enough space to comfortably fit a toilet, bathtub and shower and still have room to move in between each fitting to make it easier for multiple people to use the room simultaneously.

Fixtures and Fittings

Bathroom
Not sure if you should have a bath and a shower? A family bathroom should include a bathtub if possible. This will help parents of young kids bathe them without having to hop in the shower themselves, and allow for numerous kids to be scrubbed clean at once! A bathtub is also beneficial should you decide to sell your home in the future as it’s appealing to prospective buyers to have at least one bathtub in the home. If space is an issue, a shower over a bath will save on floor space while still giving you the option to use both. If your toilet is in the bathroom, installing a wall hung toilet without a visible cistern is helpful because it won’t protrude out into the room as much as a traditional toilet. Frameless shower screens also give the illusion of more space, since the lack of visible framing keeps the line of sight unobstructed, and slimline wall-hung vanities also don’t impose on the floor space, making the room feel bigger.

Ensuites

Bathroom
Most new homes include an ensuite in the master bedroom, giving parents a little more privacy and allowing kids their own space in the family bathroom. Ensuites usually comprise of a toilet, sinks, and a shower, however some are also big enough to allow for a bathtub as well. Including a double vanity in the ensuite means adults can get ready concurrently without feeling too cramped. A generous shower with an inbuilt niche shelf will neatly house any bath and body accessories needed, and the inclusion of a freestanding bathtub will elevate the space and add a spa-like retreat feel for some peace and quiet.

Décor

Bathroom
Because bathrooms are wet areas, floor and wall tiles are a must-have in the space. However, that doesn’t mean it has to be bland and boring! With so many tile options available, you have the ability to create a statement with colour and patterns to really make the space pop. Choosing metallic or matte black tapware and sleek basins will add a contemporary feel, and a vanity in a soft neutral colour or natural finish will tie the whole look together. Touches of greenery in the corners will add life to the room, and adding some large windows will invite natural light in to add depth and space to an otherwise compact room.

Bathrooms are one of the most-used rooms in the house, so putting a lot of thought into the design, layout and décor will create a space that will suit your family through many stages of life. With so many beautiful design options available, you’ll be able to work with your builder to create a bathroom and ensuite that’s unique, functional and stylish to elevate a serviceable room into a luxurious five star space! For more building and design ideas, visit the Hotondo Homes website today.

Building a new home can be an expensive process. With home insurance, conveyancing or solicitor fees, and mortgage insurance, costs start to add up quickly. One of the largest payments you’ll make during this process is stamp duty. Although the added cost is substantial, there’s no avoiding it unfortunately, since every real estate purchase accrues a stamp duty cost. But what is it? We’ve got a quick summary of what stamp duty is and why you need to pay it.

What is Stamp Duty?

Stamp duty is a form of tax written on certain transactions, like real estate, that is imposed by state and territory governments. It is paid by the purchaser of the property. The amount imposed on the transaction will vary from state to state, but each state and territory in Australia imposes stamp duty on real estate purchases.

Stamp Duty

How is Stamp Duty Calculated?

The amount of stamp duty you’ll pay depends on a number of factors. The location of the land or property being purchased, whether you’re a first home buyer, and whether you’re buying land or a dwelling, and whether you’re purchasing an investment property or plan to live in the property all contribute to the final amount of stamp duty calculated for your purchase. The amount is calculated on either the expected value of the land and buildings or the purchase price of the land and existing dwelling as at the date of the contract of sale, which is the date when the contract of sale is signed and the deposit is paid by the purchaser. Many financial institutions and State Revenue Office websites offer stamp duty calculators so you can estimate how much stamp duty will be applied to your real estate purchase.

Stamp Duty Exemptions

There are some instances where stamp duty may be reduced depending on your circumstances. These include purchases by first home buyers, pensioners, low property value, deceased estates, and off the plan purchases. When you’re ready to purchase land or a home, research the stamp duty exemptions in the state your purchasing in order to see if you qualify for a reduced stamp duty rate.

When is Stamp Duty Paid?

Stamp duty is paid to the State Revenue Office in the state of purchase prior to the lodging of the transfer of land to the land titles office. Usually the purchaser’s lender or legal representative pays stamp duty after settlement, often with funds that the purchaser contributed before settlement occurred.

Stamp Duty

How to Reduce Your Stamp Duty

The most obvious way to reduce the amount of stamp duty you’ll pay is to buy a less expensive property. However, with the cost of real estate fluctuating this isn’t always possible. In most states and territories, stamp duty increases significantly when the purchase price goes over $500,000. You may opt to look for property in a regional area or even in a different state to decrease the amount of stamp duty you’ll pay. If you’ve purchased a house and land package and will be building a new home, the stamp duty is calculated on how much the property is expected to be worth, so reducing the cost of the build by sticking with the standard inclusions offered by your builder will help keep the build costs low and subsequently lower the property’s initial value.

When purchasing a new home, whether it’s land or a dwelling, you’ll be required to pay stamp duty on your purchase. This is something you should budget for when saving a deposit to purchase so there are no nasty surprises. Researching estimated stamp duty costs using online calculators will help you allow for this payment on top of you deposit, ensuring you’re not out of pocket with an expense you weren’t expecting. For more home building tips, visit the Hotondo Homes website today.

Hotondo Homes is not a licensed financial expert and we recommend speaking to a licenced financial professional before making a real estate purchase.

When you’re building a new home, one of the most exciting parts of the process is choosing the colour palette and fixtures for every room, thinking about what sort of furniture you’ll buy to suit each space, and how you’ll put the finishing touches on each area with soft furnishings. Along with these considerations, one of the most important decisions to make is what sort of flooring you’ll include! Since flooring covers every inch of your home, it’s something that deserves a lot of thought, and we’ve got a quick summary of the numerous options available.

Carpet

Flooring
Carpet is best suited to rooms where the everyday foot traffic isn’t as high. Bedrooms, studies, and formal lounge rooms are ideal for including carpet in because of the numerous benefits it provides. Carpet will help retain heat, particularly in smaller spaces, making the rooms stay warmer for longer which is perfect for homes in cooler climates. It also helps muffle sound, so if you’re working hard in your study on the phone, or entertaining with friends in a separate lounge room, the sound will be contained thanks to the thick carpet you’ve included. Carpet also provides a beautifully soft barrier for kids to get comfy on as they play on the floor in their bedrooms, keeping them warm in winter!

Vinyl Planking

Flooring
Technological advancements in recent years means vinyl plank flooring has come a long way! This type of flooring is an affordable alternative to hardwood and stone flooring, but is able to mimic the look of timber, tile, marble, and distressed hardwood. A huge benefit of choosing vinyl planks for your new home is that they’re incredibly durable, and able to withstand the traffic of kids, pets, high heeled shoes, and all the school bags, sports equipment, and shopping that get dropped on it daily in your open-plan areas! You’ll love the luxe look of vinyl planking, and the range of colours and patterns it comes in, meaning it will coordinate seamlessly with your home’s overall colour palette.

Tiles

Flooring
Perfect for homes in warmer climates and wet areas like the kitchen, laundry and bathrooms, tiles are a timeless choice for homes that want a chic, polished look that also stays cool. In open-plan areas, tiles will be easy to wipe down and clean, able to withstand the mess of babies and little kids at meal times, muddy pets running through the room, and the inevitable spills and grime from cooking. With so many options available, you’ll be able to choose from a range of styles, from muted monochromes to patterns with pops of colour to ensure your home has a contemporary feel throughout!

Floating Floors

Flooring
One of the most durable types of flooring, floating floors are made from timber and offer a more traditional look for your new home thanks to their ability to mimic the appearance of stained floorboards. With a number of different style options available, you’ll be able to choose from a one, two, or three plank style to create the look of hardwood floors at a more affordable cost, or multi-strip plank that incorporate styles like Herringbone for an elevated feel. Floating floors suit both open-plan areas as well as bedrooms and separate lounge rooms, so you’ll be able to create a flooring style that flows seamlessly through your home, keeping the spaces effortlessly cohesive.

With Hotondo Homes’ new Imagine More promotion you’ll be able to choose our Premium Flooring upgrade package and get up to $10,000 worth of flooring from our preferred suppliers Choices Flooring and Beaumont Tiles in your new home. With a huge range to choose from, you’re sure to find a flooring solution that suits your family’s style as well as your everyday lifestyle to create a look that’s modern and elegant. To find out more about our national promotion, visit the Hotondo Homes website today.

No, you’re not seeing double! We’re having such a huge year that we’ve got even more new display homes to show you! These designs are versatile, luxurious, and perfect for family lifestyles, no matter what stage of life your family is in. Take a look at these beautifully built displays, one of these could be your dream home!

Lumina 312


From our Forever Oasis range, the Lumina 312, built by Hotondo Homes in Albury and Wodonga is a stunning and enlightening design that truly articulates what the modern family needs. A spacious entry greets you, then flows through to the large master suite at the front of the home. You’ll then find a large private study as you walk through to the open-plan kitchen and dining area. There’s a truly remarkable full butler’s pantry, connecting to the laundry and a spacious linen cupboard, while also providing access to the double garage. This home also has an immense living area next to the kitchen and dining zones, both connecting to an alfresco for true indoor/outdoor living. The additional three bedrooms are tucked away down the left side of the home, as well as a separate lounge room that can double as a fifth bedroom or media room, ensuring exclusive spaces for the entire family. Visit our website to take a 3D tour today, or see this home in person at Woolshed Estate in Thurgoona.

Marcoola 209

Display
Built by Hotondo Homes in Caboolture, the Marcoola 209 presents versatility for families of any age and size. This four bedroom home has a perfectly designed open-plan area in the centre of the home, with a master suite located at the front of the house, complete with an ensuite and walk-in-robe. A separate living room and three additional bedrooms are nestled around the open-plan area, with both the family zone and living room connecting to the alfresco, making this the perfect home for families who love entertaining! Visit this home at the Riverbank Estate in Caboolture, or head to our website to find out more about this design.

Somerset 233

Display
Hotondo Homes Inverloch recently opened this stunning Hamptons style home that offers a well thought out design in a family friendly layout. A generous master suite is located at the front of the home, with a walk-in-robe and ensuite for total privacy. A private living room follows allowing for more formal entertaining, and you’ll then discover the generous open-plan kitchen/living/dining area, including a walk-in-pantry with lots of storage space. On the left side of the home is the family bathroom and three additional bedrooms, each with a built-in-robe, and there’s an alfresco directly connected to the dining area for meals and entertaining. With clever nooks for your TV, computer and extra storage, your family will have all the space it needs! Take a virtual tour of this home at our website, or visit the Parklands Estate in Inverloch to experience it in person.

Yering 248 ALT

Display
With plenty of space for everyone, the Yering 248 ALT is the ideal acreage design! Hotondo Homes in Bathurst and Orange have painstakingly built a home that’s perfectly designed to suit larger blocks of land and growing families. There are three spacious living areas, so everyone is guaranteed to have their own space to relax in, a master suite with ensuite and a walk-in-robe, and three additional bedrooms located close by, perfect for families with little ones. The kitchen has a huge butler’s pantry behind it, and the dining area connects to the alfresco, ensuring you’ll be able to use the space year round! See this amazing home in person at the Paterson Garden Estate in Orange, or get a feel for the floor plan at our website using our 3D Explore tool.

With thirty-nine display homes currently open to the public, and more set to open in the second half of 2019, there’s sure to be a home design that you love! We also have over ninety flexible floor plans to choose from, so head over to the Hotondo Homes website, take a look at all our beautiful display homes, find a builder local to you and start your building journey today!

With the Liberal government winning the recent Federal election in May, many Australians have been asking what the result means for the housing market. The Labor party was vowing to introduce restrictions for investors, which now won’t happen, and the Reserve Bank of Australia also cut interest rates to a record low in June, which has a big impact on mortgages. How does this affect you? We’ve got a breakdown of what all these factors mean.

House Prices

election
Before the election, investors were being cautious. With Labor’s election promise to reduce negative gearing and increase capital gains taxes, less properties were being purchased, which had a knock-on effect of lowering house prices. Sydney and Melbourne alone have seen a decrease in house prices of 14.5 per cent and 10.9 per cent respectively in the last eighteen months as people held off on purchasing investment properties. Now that investors can purchase with the confidence that their portfolios can be negatively geared and continue to reap all the tax benefits they’ve previously enjoyed, industry experts predict house prices will begin to rise in the coming months as investors re-enter the market.

First Home Buyers

Election
While the decrease in capital gains tax and stability of negative gearing won’t impact first home buyers, the effect this has on housing prices will to some degree. With investors holding off on purchasing property before the election because many predicted a Labor party win, the decrease in house prices meant it was a good time for first home buyers to enter the property market. Now that investors can still reap the benefits of negative gearing on multiple properties, house prices are set to rise as people start to purchase investment properties again, meaning first home buyers are competing against investors with more borrowing power when trying to purchase their first home.

Investors

Election
Those wanting to invest in property are the big winners of the election. The ability to negatively gear property portfolios means investors can continue to purchase homes with the confidence that they can increase their capital growth over a long period of time. This is because they’re now able to buy in a stable housing market during a time when prices haven’t increased dramatically. This also has tax benefits because investors can claim any expenses incurred, reducing their taxable income and creating an investment that will benefit them in their retirement years.

Interest Rate Cuts

Election
Just a few weeks after the May election, the RBA cut interest rates to a record low of 1.25 percent, with many banks and credit unions passing on rate cuts of their own. This is a win for existing home owners, and investors alike as people see their existing mortgage repayments decrease slightly thanks to the rate reduction. For first home buyers, it’s a great time to get finance pre-approval and lock in a low interest rate on their first mortgage when they’re ready to purchase their first home. For investors and home owners, these rate cuts are also the perfect opportunity to get in touch with a mortgage broker to shop around for the best interest rate possible – often loan exit fees are outweighed by the benefit of moving a mortgage to a new lender with lower interest rates.

Our network of builders can help you find the right home solution, whether you’re looking for your first home, hoping to upsize for your growing family, or find an investment property to create a nest egg for your family’s future. Visit the Hotondo Homes website to find a builder local to you and start your home building journey today.

Hotondo Homes is not an authorised financial institution and we recommend home buyers always seek the advice of a registered financial professional before purchasing property.

It’s been a huge year for Hotondo Homes so far, with a number of new display homes opening during the first six months of 2019, and we wanted to showcase our versatile and stylish designs for anyone currently looking for that perfect new home to build!

Cooloola 208

Display homes
Hotondo Gympie have built this beautiful home with big features that will delight and charm any family! The Cooloola 208 makes coming home feel like a holiday, every day, especially with a layout that places the master suite at the front of the home, creating a sanctuary for parents. There’s a private living room opposite the master for more formal entertaining, and the open-plan kitchen/living/dining area is located centrally as the heart of the home. Three additional bedrooms and an alfresco complete this lovely home, making it perfect for every day family life. Make sure you visit this home in person, or head over to our website to take a 3D tour today.

Dakota 316

Display homes
Combining modern design and luxury features, the Dakota 316 from Hotondo Homes in Wagga Wagga is the ideal family home! With three living spaces, including a separate living room at the front of the home, a rumpus room for the kids in the centre of the home, and open-plan kitchen/living/dining zone that flows out to the alfresco, entertaining is a breeze with this spacious layout. A walk-in-pantry and a roomy linen cupboard provide generous storage, and there’s a private study perfect for working from home or the kids’ homework. With a master suite that includes two walk-in-robes and a huge ensuite, parents will love the peace and quiet, especially with the three additional bedrooms located at the rear of the home for the kids. To see this stunning home in person, make sure you visit the Estella Rise Estate today, or take a 3D tour on our website.

Erskine 225

Display homes
Hotondo Homes in Coomera and Pimpama have built one of our most popular designs as a superb Hamptons inspired Erskine 225 in Coomera. This design has been adapted to suit a narrow block of land, making it suitable for many smaller sized lots. Standout features of the home include the versatile separate lounge room and large open-plan kitchen/living/dining area complete with a huge walk-in-pantry all located at the rear of the home and directly connected to the alfresco. All four bedrooms line the right side of the home, creating separation between the living and sleeping zones, with a master suite that includes a walk-in-robe adjoining the ensuite. Take a 3D tour of this home today, or make sure you come and visit it in person!

Jaxton 261

Display homes
With simplicity in mind, our first Jaxton 261 display home from Hotondo Homes Toowoomba takes the traditional double storey home to new heights! The ground floor of this home focuses on every day family life, with a living room welcoming you upon entry. At the rear of the home is the spacious open-plan kitchen/living/dining area with walk-in-pantry, plus an alfresco that’s perfect for entertaining. Head upstairs and you’ll find a generous rumpus area for the whole family to enjoy, three bedrooms for the kids, and a master suite complete with a walk-through-robe that connects you to the stunning ensuite. To view this home in person, pop in to The Avenues of Highfields Estate today, or visit our website and take a 3D tour.

Yering 248

Display homes
With plenty of space for everyone, the Yering 248 is the ideal home for acreages and wide blocks. Built by Hotondo Homes in Bendigo, this is a four bedroom home complete with all the features perfect for the hustle and bustle of family life. Your family will love having their own space, as well as enjoying time together in the open-plan kitchen and dining area, the connected living space, or in the more formal separate living room. The master suite is cleverly situated at the opposite end of the home to the rest of the bedrooms, creating a true parents’ retreat, while the kids’ rooms are nestled around a rumpus room perfect for chilling out with friends. There’s a spacious study nook for all that household admin, and a large alfresco that connects seamlessly to the dining space for indoor/outdoor living. Visit this display in Strathfieldsaye today, or take a 3D tour of the floor plan from the comfort of your own home!

If you’re looking for the perfect home design, make sure you visit one of our gorgeous display homes that are open to the public. We have a range of designs and floor plans available for you to walk through so you can get a feel for the Hotondo Homes style and exquisite craftsmanship. If you don’t live near one of our display homes, don’t worry! You can take a virtual tour of all of our display homes using our 3D Explore Tool. For more floor plans and home design inspiration, as well as finding a builder local to you, visit the Hotondo Homes website today.

Buying your first home and feeling a little confused about what conveyancing is? You’re not alone! This is a vital part of the purchasing process, but is often a service you pay for without really understanding it. We’ve got a simple breakdown of what conveyancing is, why you need to do it, and why it’s an important part of the home buying process.

 

What is Conveyancing?

This is the essential step of transferring the ownership of land or a property from one owner to another. Buyers can handle the conveyancing themselves, though it can be quite time consuming and complex. This is why most people choose to use a licenced conveyancer or solicitor to do the work for them. Conveyancing covers a number of things, such as the payment of the deposit, the balance of the purchase price and competing the correct forms to ensure the land or property is properly and legally transferred to the correct person. It also includes making enquiries about outstanding debts, obligations, potential defects or disputes on the property.

Conveyancing

Buying or Selling?

Legally, a conveyancer cannot carry out any conveyancing work for the buyer until after the contract has been signed. Once you’ve committed to buying land or a property, the conveyancer can then commence their work, and advise you with comprehensive advice about the contract of sale, the Section 32 Vendor’s Statement, and what your rights and obligations are under the contract, as well as any special conditions or issues with the property. As a seller, a conveyancer or solicitor will prepare the legal documents for you, which includes the contract of sale and the Section 32 Vendor’s Statement.

The Conveyancing Process

Once you have signed a contract to purchase a home, the conveyancer or solicitor will commence their work. They will investigate whether a government body has an interest in the land or whether there are any proposed developments or notifications that could affect the property by gathering information and making enquiries about the land and title from relevant authorities to ensure there are no hidden defects, debts, or mortgages on the property. They will also ensure the property is in compliance with council and state regulations and law. They will then draw the relevant documents to ensure the property is transferred to the correct owner at the end of the process, which is the settlement date in the contract of sale. The conveyancer or solicitor will also represent you as the buyer or seller and liaise with the other party directly. This includes the exchange of transfer documents, ask any questions about the property, and communicate with the financial institution involved as well as attend the settlement on behalf of their client.

Conveyancing

What Happens After Settlement?

Once settlement is over, the conveyancing process is typically finished. In some cases, the conveyancer or solicitor may attend to stamping and lodging of the transfer documents. This means they may assist in the preparation of the documents so that a new Certificate of Title is issued in the name of the land or property’s rightful owner.

Conveyancing is an essential step of transferring ownership of property when its being bought or sold. Because this is such a significant financial investment, using a professional to assist you with the process is invaluable during your home purchase or sale. When you build with Hotondo Homes, your local builder will be able to to assist you with your conveyancing needs during the building process. For more building tips and information, visit the Hotondo Homes website today.

Hotondo Homes is not a licenced conveyancing service, and we recommend speaking to a licenced professional when you’re buying or selling land or property.

Have you been chatting to a mortgage broker about obtaining finance to buy or build your first home and you’re feeling a little bit confused about all the different loan terms being discussed? Don’t worry, we’re here to help! We chatted to our friends at Professional Mortgage Managers and they have a thorough list of all the loan terms, what they mean, and how they can benefit you!

Variable loans

Variable loans are loans that are subject to interest rate fluctuations. Whenever your bank increases or decreases interest rates, you will end up either paying more or less for your loan, depending on what the bank has decided to do. The benefit to the customer is that often (but not always) once discounts are applied that lower rates, there is the flexibility to pay down loans quicker, you can have 100% offset accounts and can discharge from your loan at any time without breaking fees.

Fixed-rate loans

Fixed loans allow you to lock in a specific interest rate over a set period of time, generally between one and five years. This loan ensures that repayments don’t rise for the fixed rate period. The main risk is that if variable rates fall, you are locked in at a higher rate. The cost of breaking a fixed rate loan contract can be substantial. The benefit to the customer here is the element of repayment certainty in times of rate fluctuation.

Principal and interest repayments

Repayments are based on the principle rate, the amount borrowed from the bank, and the interest, the amount to pay for having borrowed the money.

Interest-only repayments

Repayments are made just on the interest, which is the amount you repay for having borrowed the money, and not on the principle borrowed amount. This is generally available for 1 to 5 years for owner occupied loans, and one to ten years for investment loans.

Split-rate loans

You can take out a mortgage with one portion of the loan variable, and the other fixed. In many ways, this offers the best of both worlds and you have the flexibility to repay more on the variable loan and reduce risk through the fixed loan.

Low-doc loans

This loan is better suited to the self-employed as low-doc loans require less proof-of-income paperwork, but the interest rate levied is often higher than the standard variable rate.

Professional or packaged loans

Some lenders offer mortgages that provide ‘lifetime’ discounted interest rates, fee waivers and linked savings accounts and credit cards. These options are generally offered on high loan amounts.

Construction loans

These loans allow amounts of finance to be drawn down progressively to cover the various stages of a construction project. Repayments (generally only on interest for the first twelve months, then on principal and interest thereafter) are only made on the amount of the loan facility that has been drawn down. However, there are line fees on the undrawn amount, or in most cases on the total facility limit.

Line-of-credit facilities

This is a way of tapping into the equity in an existing home loan and drawing down funds as required for different purposes, such as renovations. Similar to a credit card, repayments are only made on the amount drawn down. Line-of-credit loans are often interest-only for a significant period, but can revert to principal and interest repayments down the track. Most lenders charge extra for line of credit accounts, either through a facility fee, undrawn funds fees and/or a higher interest rate.

Bridging loans

Bridging loans are designed as short-term financing options for borrowers who need funding to buy a new residence before selling their existing home. The interest rates on these loans are higher than the standard variable interest rate.

Now that you’re ready to get finance approval for your first home purchase, having a sound understanding of common loan terms will help you understand the types of loans your broker will suggest that suit your lifestyle and budget. This should also help you in the future in the event that you need to reassess your home loan and make changes where necessary. To find a builder local to you, head to the Hotondo Homes website today. Our builders can assist you with getting in touch with a finance expert to help you start the process of obtaining finance for your new home.

Hotondo Homes is not an authorised financial institution and we recommend home buyers always seek the advice of a registered financial professional before purchasing a home.

Whether you’ve lived in New South Wales all your life, or you’re looking for a seachange up to the coast, Hotondo Homes has a large network of builders ready to help you find the perfect home! All our local builders have a number of home designs available to choose from, and can provide cost-effective solutions to meet your budget and lifestyle. This week we’re putting the spotlight on a few of our builders throughout New South Wales so you can get to know some of the members of our Hotondo Homes family!

Hotondo Southcoast

Builder
With over fifteen years of building experience, Adam Sturt is your local builder in Nowra and surrounding areas. Adam has a wealth of experience building a wide range of single and double storey home designs, and has worked with a wide variety of clients. He understands how important it is to tailor his services to meet clients’ design aspirations, budgets, and lifestyles. With a thorough understanding of different types of blocks, the South Coast team specialise in building on sloping blocks, beach-side homes and large acreage properties. Adam’s professional attitude and personalised customer service is always welcomed by his clients, and he goes to great lengths to make himself available to chat about their build and answer any questions they have throughout the process. Priding themselves on their fantastic customer service, Adam and the South Coast team work to ensure all their clients have a stress-free, enjoyable new home journey, with communication being their top priority, which earned them the Customer Service Excellence Award at the 2018 Hotondo Homes National Conference, which is the third consecutive year they’ve received this honour! Pop in and visit their Erskine 240 display, and chat to this friendly team about your own dream home ideas today.

Hotondo Homes Newcastle and Lake Macquarie

Builder
Stephen and Sue Schutz are your local builders in Newcastle, with their services extending from Fletcher to Morisset. With over nintey flexible floor plans available, including single and double storey homes, split level designs, and duplex homes to choose from, they will work with you to ensure your new home suits your family’s needs, lifestyle, and budget. The Newcastle team specialise in building on sloping blocks and together with their in-house designer, Stephen and Sue work hard to ensure their providing their clients with exceptional customer service, attention to details, and innovation. Being a family-owned business means they have the flexibility to tailor their services to suit each client’s need, and they pride themselves on their professionalism and personal approach. Get in touch with the team today to start your home building journey!

Hotondo Homes Bathurst-Orange

Builder
No matter what style of home you’re looking for, Greg and Gillian Coleman can cater to your budget, location, and lifestyle. With extensive experience in the building industry, Greg and Gillian are your local builders in Bathurst, Orange and the surrounding areas. Using reputable local trades and suppliers, and with selections that are completed in-house, it’s the perfect one-stop shop for all your needs! They pride themselves on their transparency and professionalism, and work to fixed-price contracts with no hidden extras, ensuring customer satisfaction from start to finish, resulting in the team receiving a Customer Service Excellence award at the 2018 Hotondo Homes National Conference. Catering to first home buyers, families looking to upgrade, and retirees beginning the next chapter of their lives, their team can help find a home design for everyone. Greg, Gillian and the entire team assist clients throughout the entire process, including land purchase, arranging finance, selecting designs, and modifing inclusions to suit client requirements so the end result is a home the entire family loves! With a new display home opening in 2019, Greg and Gillian would love to chat you about building your dream home!

Hotondo Homes Wagga Wagga

Builder
Brothers Craig and Marty Keogh know how to build quality homes. With over twenty years of experience in construction, they’ve built some of Wagga Wagga’s best homes, and have just opened their new display home, the stunning Dakota 316. Servicing Wagga Wagga and the surrounding areas of Gobbagombalin, Collingullie, and Forest Hill, Craig and Marty are your professional building team. No matter your lifestyle, budget, or family size, they’ll be able to find the perfect new home solution. Specialising in building on all types of sites, including difficult sloping blocks and acreage land, their team never shy away from a challenge! With a range of affordable house and land packages, Craig and Marty offer a fixed price contract with no hidden costs, and they pride themselves on running a detail-oriented business that offers the best in customer service and client satisfaction. The team at Wagga Wagga are also dedicated to helping their local community, and raised over $10,000 for Make-A-Wish Australia® last year, a feat which saw them awarded the Make-A-Wish Event of the Year at the 2018 Hotondo Homes National Conference. Come and visit their new display today, and chat to them about your new home requirements – they’re more than happy to answer any of your questions!

Hotondo Homes has a number of builders located around New South Wales to help you with your vision. With flexible designs for all types of land, and plenty of house and land packages available to suit your budget and lifestyle, you’re sure to find a local builder in your area to create a beautifully constructed home for you and your family! Visit the Hotondo Homes website and find a builder local to you today.

When you’re building a new home, it’s important to understand the fixed costs in the quote you receive from your builder. Many builders will put something called ‘prime cost’ items or provisional allowances into their quote, and clients may find that when it comes to actually selecting items for their home, they’re met with surprise costs that weren’t included in their original quote. At Hotondo Homes, we are committed to providing clients with transparent pricing to ensure you don’t get any costly surprises.

Costs

What Are Prime Cost Items and Provisional Allowances?

Often builders may include prime cost items and provisional allowances in their quote. These could be for the kitchen, tapware, sanitary ware, connection of services, bricks and many other items in your new home. This is where a nominal figure is included in your quote to cover basic items, so when it’s time for you to make your selections for your new home, you pay the difference between the basic item and the item you wish to include.

Why are Prime Cost Items and Provisional Allowances Confusing?

Many clients are unaware of these additional charges when they do their selections, and while it’s considered very normal practice in the building industry, it can lead to clients becoming disillusioned and disappointed. Clients who sign a contract with a builder in good faith based on the quote they’ve received being a fixed price then find out throughout the building process that every time they make a selection, or there’s a construction issue on site requiring extra work they incur additional costs not included in their quote.

Costs

Why Is It Best to Quote Accurately?

We believe that quoting clients with prime cost items and provisional allowances is a bit of a trap – so we don’t do it! Inevitably these allowances do not cover what you will ultimately select for your home. We want you to have the freedom to select exactly what you want for your dream home and understand where it fits in to your budget, without the nasty surprise of additional costs, so the price we quote you in your contract is the price you pay. The only change to that is if you have specific items you’d like to include, or upgrades you’d like to make in your home.

Costs

How Can We Quote Accurately?

Providing our clients with a true fixed price quote takes a lot of work, due diligence on our part, and time. Our builders visit every site, and arrange to do specific soil tests, rock test, fill tests, compaction tests and contour surveys. Then, armed with all that information, they get a civil engineer to asses the best way of building your home, the necessary site cuts, piers, fill and driveways, paths, and retaining walls if required. They also work to determine the position of the service connections, and price those accurately. Once all this has been priced, the builder then works on pricing the cost of building your home, including any modifications you require, to an agreed specification level. This level of specific pricing will provide with you with a fixed price quote to give you an accurate idea of your overall costs, right down to the cost of including heating, cooling, light fittings, and even the mail box!

At Hotondo Homes, we are committed to making sure you don’t get any nasty surprises throughout your building journey, and that the price on your contract is the price you’ll pay. We believe in being accurate and transparent in our quotation process, and we will work closely with you to answer any questions you have, include any modifications you may need, and provide you with an accurate price for your home. To start planning your dream home, visit the Hotondo Homes website and find a local builder in your area today!

Our latest campaign hit TV screens in January and we’d love to show you what inspired the story behind ‘The Drawing’ and why we love this campaign!

Inspiration

Drawing
We spoke to customers to find our what their home owner journey is, and what their process is when deciding which building company to use for their dream home. We listened to what they had to say and used their insights to see how we can connect with customers on an emotional level and better our experience with them. We asked customers to draw their dream home, and the results were surprising! Instead of focusing on the look of the home and its features, they really illustrated the importance of the people in their home – their partners, their children, and even their pets! This conveyed beautifully what makes a house a home, and we used their collective vision of a dream home as the basis of this campaign.

‘The Drawing’

Drawing
Framing the tv ad around the idea that Jack’s mum saved his childhood drawing helped us create an ad that connects to customers on an intensely personal level. Everyone can relate to having childhood items saved for them by their parents, and as they get married and start their own families they understand the sentimental aspect of saving their own children’s artwork. We even spoke to some of our own builders to find out what they’ve been carefully saving for their children! Our builders also loved seeing the journey of Jack’s dream home come to life, and noted that every parent loves seeing their children achieve their goals. No matter how old a child is, a parent will always be watching and cheering them on, and this is one of the key messages of the campaign.

The Home

Drawing
We chose the Erskine display as the location because it perfectly showcases the functionality of open-plan space in a family home. The home has all the space the family needs for privacy, but also features an area that allows the family to be in close proximity to each other throughout the day. The home’s design creates a light, bright atmosphere no matter which angle you look at it from thanks to the large windows in the open-plan space. The layout of the home’s open-plan and alfresco areas allowed us to effectively show how Jack’s dream home went from his imagination to real life and all the joy that accompanies his achievement. We were able to illustrate how much emotion and pride goes into achieving the dream of owning your own home, and seeing your own children benefit from your dream.

You can head over to our website to see lots of great behind the scenes photos, more in-depth interviews about the inspiration behind the concept, and interviews with Hotondo staff, our builders, and the cast. We’re also running a colouring competition for children aged up to seven years old. We want your child to draw their dream home and send it in to us to go in the running to win one of our weekly or monthly prizes, so tell your kids to get creative and start drawing!

In the last six months, we added to our selection of display homes open to the public with four new ones! These homes showcase the versatility of Hotondo Homes designs as well as focusing on the quality of workmanship in each home. These displays are also another great example of Hotondo Homes’ attention to detail when building a home to suit a range of families and lifestyles.

Esplanade 260 – Torquay

Display
Want to take advantage of the beautiful views where you live? The Esplanade 260 is a stunning example of reverse living at its finest. Local Hotondo Homes builder Peter chose this design for his display because ‘the Esplanade 260 is light, bright and airy. The open-plan upstairs living room is sunny and spacious, and offers generous rooms and family lifestyle flexibility – yet it can still fit on relatively small blocks. The courtyard decks offer alternate semi-sheltered outdoor spaces to choose from on sunny and windy days. The kitchen will satisfy anyone who likes to cook and entertain. Even storage areas are generous!’ A three bedroom home, the beauty of this design rests in the reverse layout. With the open-plan kitchen, living and dining zones upstairs, including a butler’s pantry, and a master suite complete with a spacious walk-in-robe and ensuite located at the rear of the main living zones, your family will be able to fully enjoy the views around your home.

Hume 244 – Mackay

Display
Spacious family living and modern design blend together in the Hume 244, giving your family everything it needs to comfortably reside in this beautiful home for years to come. With three bedrooms at the front and the master suite at the rear of the property creating a secluded parents’ retreat, plus a separate living room for more formal entertaining, this is the perfect home for growing families. There’s also a generously sized open-plan kitchen and living space that connects to the alfresco perfectly blending indoor/outdoor living, making everyday living and entertaining a dream.

Jagera 250 – Batemans Bay

Display
A family home with all the bells and whistles, the Jagera 250 has loads of living space with a formal lounge room at the front of the home in addition to the spacious open-plan kitchen/living/dining area strategically located on the right side of the home. With a separate study that’s perfect as a home office or a study zone for the kids, this home is designed with versatility for families in mind. Local Hotondo Homes builder Darren says the Jagera 250 ‘has a great feel to the layout. We have built it previously for clients and they have loved it. It’s part of a family of sizes so clients have options depending on their block size. Plus, who doesn’t want a walk-in pantry!’

Vida 238 ALT – Jimboomba

Display
The Vida 238 ALT is perfectly designed to suit large families. An open-plan living space in the centre of the home that’s surrounded by three bedrooms and an additional living room makes family life the main focus of this design. The luxurious master suite is cleverly placed at the front of the house, creating the ultimate parents’ retreat. There’s also an alfresco that connects seamlessly to the dining area so your family can enjoy true indoor/outdoor living. With so much space and so many wonderful features, this beautiful home is perfect for a range of families and lifestyles.

If you’re looking for the perfect home design, take a look at our display homes that are open to the public! There are a range of designs and floor plans available for you to walk through so you can get a feel for the Hotondo Homes style and craftsmanship. No display home near you? No worries! You can use our 3D Explore tool to take a virtual walk through our displays at the click of a button. For more floor plans and home design inspiration, visit the Hotondo Homes website today.


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