How to Build your New Home For Less
Make no mistakes…. Your decision to buy a new home is most likely going to be the biggest financial commitment you will make. But don’t be fooled into thinking that you have to spend your last dollar towards your dream home. In fact, this is one of the biggest mistakes new home buyers will make, causing major financial strain in the following years. At Ashmont Homes, we will align your new home budget with your lifestyle objectives. Our easy to follow process ensures you make the most of your hard earned dollar and make every dollar count……..
Here are some key tips on building for less…..
Don’t waste time in Pre-Construction
A common complaint from clients who build with the larger project home builders is the pre-construction process is clunky and slow. Other than the frustration of the delay itself (which is sometimes inevitable), there is a monetary cost that is often overlooked. Consider this…. you have purchased your block of land and while you are patiently waiting for your builder to make a start, you are now being charged interest on your land by the bank. Imagine your builder was in pre-construction for 12 months, based on a loan value of $500,000 and an interest rate of 3.5%, you’ll have to pay a whopping $17,500 in interest alone!!!
The key is to find a builder that has a streamlined pre-construction process. Someone that can confidently advise you of a timeframe for not only the construction process, but also the pre-construction process!
Most clients know very little about the fundamentals of building a new home, which is why you trust your builder to make the necessary design decisions that are in your best interest. However, there appears to be a misalignment in the design process, where the building designers & architects lack the practical knowledge of how to build a new home. Consequently, home designs are produced that focus heavily on the aesthetics of the home and fail to consider the practicality of how it will be built. Inefficient designs can be costly, resulting in delays on site or attract additional (and often unnecessary) costs of construction which are ultimately paid by you.
We are strong believers that every home needs to be customised to the block of land on which it will be built. Every block of land is different, as is its owner. Such things as orientation, slope of the block, configuration of the block etc…. These are all factors that influence how the home will perform once built, which could potentially save you thousands of dollars, in both the short and long term.
Every builder says that they build a “quality” home. However, attention needs to be made to the quality of the home’s inclusions. You have just selected your builder based on price, because he came in $10k cheaper than everyone else. Unbeknown to you, the reason your builder was cheaper was because he used poorer quality fixtures and fittings. In this instance, the home will end up costing you more in the long run because of maintenance issues or the need to replace or service your fixtures sooner than expected.
If you have any queries or need some guidance on your new home journey, please connect with us. We are here to help.
Happy Home Hunting!
The Ashmont Homes team