Find all the tips, advice and new home inspiration with our Home Blog
Know what you want or need in a loan and shop around. Fixed rates, variable rates, redraw capabilities and the length of the loan are all important factors. Make sure the structure of your loan is right for you straight off the mark – this is a long-term commitment.
Builder quotes can vary by thousands of dollars, so while it may be tempting to go with the cheapest option presented to you, it is important to realise that comparing quotes based purely on monetary value may in fact cost you more in the long run. This is because you are not always comparing apples with apples. Some builders may not provide you with all the expenses upfront, and there are many items that may be inclusive with one builder and non-inclusive with another. It is important to recognise what sort of variations may be affecting your quote including things like labour rates and the quality of the materials. Take the time to understand why your quotes may vary so you know what you are paying for.
Take the time to work out what you can really afford. Many people are excited to buy their first home, but forget the extra fees or underestimate the cost of actually owning one. Find out what kind of fees may be applicable to you including home insurance, stamp duty, moving costs, council rates and transfer fees. Also, be prepared for maintenance costs which will now fall back onto you.
Review your floor plan thoroughly. Work out where your power points and light switches are best positioned, consider the location of your bedrooms to noisy areas like the laundry or living room and always ensure you have plenty of storage.
READ MORE: AVOID COMMON FLOOR PLAN ISSUES
Increasing the standard ceiling height to just 2700mm can instantly offer a more spacious feeling in your home! Highly recommended by almost every builder, it is worth the initial extra cost.
Building a new home offers the opportunity to make massive savings by increasing your energy efficiency. This can be as simple as orientating your home correctly, installing eaves and double-glazed windows and ensuring your insulation is adequate, or you can look at more complex solutions such as solar power or energy-saving appliances. New homes offer new home technologies, so now is your chance to cut down on your energy bills and decrease your carbon footprint!
You can never have too much storage in your home! A clever builder should be able to help you find extra nooks and crannies where you can include additional storage space for your belongings. Finding room for extra storage is highly recommended and your builder will have some great tips on ways to avoid a cluttered home.
It can be very difficult to predict where the future will take you, however it doesn’t hurt to consider possibilities like future pets, children or family. Make sure the home you choose accommodates for future plans too, to get as much out of the home as possible.
Having finally built or found the perfect home, the last thing you want to think about is selling it. However, your home is an investment, and it is important to think about a time where you need to sell it. When searching for your home, consider what other typical home buyers may want and accommodate for this if possible. The location is also extremely important, and while your preferences should be paramount, thinking ahead is important too.
Are we overlooking something? Let us know in the comments below!
Choosing the right design for you can be a difficult decision, even more so when you are doing it for the first time. As well as learning all the processes, dealing with banks, builders and land developers and even learning the right lingo, you also have to pick a home that you are likely to live in for many years to come.
We have listed the most important factors to consider when choosing a home design for the first time. We have also made a few suggestions on what we think are perfect home designs for first-time home buyers.
Look towards the future
Extra space should be a high priority for first home buyers. If you are planning to have children in the future, it may be wise to accommodate for them. Choosing a home with more bedrooms should be a higher priority than any other ‘additional’ features like a stone benchtop, freestanding bath or a double vanity in the ensuite. These can easily be added down the track, but extra space is more difficult to come by.
The Jamieson 222 is a versatile design with a kid’s zone that can be converted into a fourth bedroom and a separate living area at the front of the home that can become a study, theatre room or even another bedroom.
Buy the home you can afford now
Even if you expect your household income to increase in the coming years, never build a home beyond your current means. You never quite know what the future may hold, whether it be children, school, new cars or an accident, and pushing yourself to the absolute limit of your budget is never a good idea. You still want some money to live an enjoyable life, with plenty of time to build your dream home down the track.
The Aon range of homes can be built as a duplex, which can be a good way to bring in extra income. Live in one and rent out the other to increase your return and reduce the amount you have to pay on your mortgage.
Designs have personality
Find a design that is going to suit your personality and lifestyle. If you like the idea of an open-plan home, opt for a floor plan where the kitchen, living and dining areas run seamlessly into one another. If you are a bit of a movie buff, something with a closed home theatre room may be perfect for you.
The Alpha 237 offers an expansive alfresco area, great for those who love to entertain. With all the bedrooms secluded upstairs, a family can both entertain and relax simultaneously.
Study the floor plan
Some people may find themselves swayed by the beautiful interior design of a display home, and forget to be practical. Always picture yourself actually living in the home, and if you have any furniture, work out whether you are going to be able to bring it with you. Try running through your day-to-day activities and see how the flow of the home works with you.
The Leneva 185 has a seamless flow from the entry right through to the living room. The other bedrooms are all located in a separate wing, perfect for a little bit of privacy. The Leneva is a very popular home, making it one of our favourite home designs for first-time home buyers.
Choose something you LOVE!
At the end of the day, you have to love the home you choose. Building a house is a long-term commitment, and if you find there are things you don’t like about it now, you can bet they will only become an even bigger issue down the track. While you may need to make sacrifices, be sure overall you are happy with the design you choose.
What do you think of our perfect designs for first-time home buyers?
1. RESEARCH DIFFERENT LOANS
Know what you want or need in a loan and shop around. Fixed rates, variable rates, redraw capabilities and the length of the loan are all important factors. Make sure the structure of your loan is right for you straight off the mark – this is a long-term commitment!
2. BUDGET ACCURATELY
Take the time to work out what you can really afford. Many people are excited to buy their first home, but forget the extra fees or underestimate the cost of actually owning one. Find out what may be applicable to you including home insurance, stamp duty, moving costs, council rates and transfer fees. Also, be prepared for maintenance costs which will now fall back on you.
3. BANK APPROVAL
Try not to take out new credit while applying for your home loan. The bank assesses how much they can lend you based on your current financial situation and getting another loan during this time can put a strike against your name. Further to this, try not to change jobs while applying for a mortgage. Banks like to see a stable income. If you are thinking of moving jobs it is highly advised you avoid doing so until after your purchase.
4. THINK ABOUT THE FUTURE
It can be very difficult to predict where the future will take you, however it doesn’t hurt to consider possibilities like future children and pets – it is very likely your family situation will change while you’re living in the same house. An extra bedroom or a bigger backyard not only increases your resell value, but can help increase the length of time you live in your home. Make sure the home you choose accommodates for the future-you too!
5. CONSIDER SELLING YOUR HOME
Having finally built or found the perfect home, the last thing you want to think about is selling it. However, your home is an investment, and it is important to think about a time when you may need to sell it. When searching for your home, consider what other typical home buyers may want and accommodate for this if possible. The location is also extremely important, and while your preferences should be paramount, it does not hurt to think ahead.
For more information regarding your home, contact your local Hotondo Homes builder here.