Advice for first home builders
Building for the first time can be a daunting experience, there are so many things to think about and you might be unsure of the questions you need to ask. Here are some tips on what to think about when you build your first home or embark on your first new build project.
1. Planning for the future: is this an investment home or a family home?
Whilst all Ashcroft homes are built with return in mind, you will want to consider what finishes you want in the home – whether these will reflect your personal style or whether they need to be chosen with tenants or resale in mind.
2. The land – do you have land available now and is it okay to build on?
This question can delay the building process substantially, with people spending a long time looking for the perfect section for their new build project. Another way to consider land is to buy land with an older home on it and replace this with new housing – you can often replace one home with two or more new homes to truly maximise your property returns. Alternatively you may wish to purchase a home-and-land package, you just need to choose your plan!
You could also consider subdividing your current land, building on the new lots yourself, or selling the land. Both options can help you to free up the equity in your property.
3. The budget
You may think that because you are building a home you can get what you want and in your budget, perhaps through making the odd compromise here and there. However, people often underestimate what their needs would cost and can be disappointed about how far their budget will extend. Once you have a budget, speak to us and we can help you work out exactly what you can afford straight away. Don’t forget that if this is your first home AND you are a first time builder, you may quality for a subsidy from the government towards the cost of your home. To find out more, click here.
4. The type of house
At this point you know how much you can afford –the question is what does that get you in a house? You will also want to consider whether your family is growing or the kind of tenants you want to have in the home, or the likely buyer if your planning on resale. With this in mind, you can decide how many bedrooms will be needed. Do you need additional living areas to give families some space from each other, or do you prefer open plan living? Understanding the goals of your new build project is key to working out which plans will be best for your situation.
5. The finishes and the fixtures
Until this point you may not have given too much thought to how your home will look from the outside and in – but getting a good impression of the finished home helps you through these decision making processes. Ashcroft Homes professionally designed colour schemes provide you with options for both the exterior and interior look of your new homes, and we can take you through other houses in progress to see what the final finishes would look like on your new home.
As a first home builder you may be unsure about the process. We have outlined a 10 step process to explain this here.