Nov 18, 2022
The Guide for Buying Land, Building a House or Buying New Construction
If you’re considering buying land, building a house or buying a new construction property, we’re here to help.
While taking the first steps towards becoming a homeowner can be incredibly exciting, they can also be stressful and confusing for many prospective buyers. Aston Homes will walk you through your options and take the time to understand your needs so that we can find the right solution for your family.
This guide lays out tips, tricks and things to consider when deciding whether to buy or build a new home. If you have any questions, don’t hesitate to contact our friendly team!
Get in touch with Aston Homes today to find out how we can deliver your dream home.
Buying Land in Victoria
If you’re choosing to undertake a new construction project, you’ll first need to find a block of land to build on. You can source this yourself by browsing vacant land for sale online or getting in touch with a real estate agent.
Many experienced builders like Aston Homes give you the option to purchase a house and land package. This can help you take care of all your new construction needs at once, bundling everything together at an affordable fixed cost.
Finding the Right Block of Land
When choosing a block of land, you want to make sure that the area meets your needs. Consider how close it is to local schools, shops and public transport. You also want to think about the following factors that can contribute to construction costs:
- Is the land on a slope?
- Is the area prone to flooding or bushfires?
- Does the site require significant land clearing, e.g., removal of trees or other obstructions?
If you’re buying vacant land to build on, you should also obtain a soil test to avoid potential problems when construction commences. In addition, finding out what council approvals and construction permits are required before you can build is a good idea.
How Much Deposit Do You Need to Buy Land in Victoria?
Once you’ve found the right block of land, the next steps before construction can begin include getting your home loan approved, signing the contracts and paying the deposit. A deposit for vacant land in Victoria is usually around 10% of the purchase price.
The Victorian government has programs in place to help you pay for a new house. The government’s shared deposit scheme does not apply to vacant land, but land buyers may be eligible for the First Home Buyers Grant and stamp duty concessions. See the Victorian government website for more information.
Building a House in Victoria
After you’ve purchased a block of land or a house and land package, you can start planning and carrying out construction on your new property.
What Is the Most Important Thing When Building a House?
Planning is the most important factor in helping you effectively manage your new construction project. When planning your build, you’ll want to start by choosing a reputable building company like Aston Homes to ensure you get a final product with the best inclusions and finishes.
Consulting with a professional can also help with planning your home design and floor plan. Our team at Aston Homes can provide expert advice on choosing a final design that meets your family’s needs for years to come.
Stay on Track with Good Communication
Communication between the client and builder is necessary to avoid many things that can go wrong during new construction. Issues like building delays, for example, can spiral out of control without transparency on the part of the building team.
At Aston Homes, we prioritise open communication with our clients. Before construction begins, you’ll meet with your site supervisor, who will remain in touch with you throughout the build to ensure everything is on schedule. In the unlikely event of delays, you can rest assured that your supervisor will notify you promptly and resolve the issue. To find out more about how we build homes, view our guide here.
Buying a New Construction Home
If you’ve decided to buy a newly constructed home rather than build one from scratch, here are some basic steps you can take to stay on budget and ensure you’re buying a good quality home.
- Check if you’re eligible for government schemes like stamp duty concessions or a home owners grant, which can save you thousands of dollars.
- Determine your budget so that you can narrow your search to homes in your price range.
- Schedule a viewing appointment to get a feel for the properties you’re interested in.
- Get your home loan in order with your mortgage broker or bank before submitting an offer.
- Arrange a home inspection to make sure there are no hidden structural issues or pest infestations.
Is It Better to Build or Buy a House?
The decision of whether to buy a brand new house or build one from scratch depends on your objectives, needs and financial situation.
Building a new home is generally cheaper than buying an existing house. One reason for this is that you only have to pay stamp duty on the land and not the property itself, which can save you tens of thousands of dollars. All new construction homes in Victoria are also built with a 6-star energy rating, which can help you cut down on future energy costs.
Building gives you more flexibility and control over the final product, as you can choose your home design and floor plan. However, the downside of construction is that it can take many months or even years before you can move in, so if time is a concern, buying a newly established property may be a more convenient option.
Aston Homes Offers a Complete Building Experience
Whether you’re ready to begin construction on your new block of land or you’re looking to purchase a house and land package, Aston Homes can help you.
We’ll guide you through every stage of the building process, from selecting a house and land package through to construction and aftercare. We pride ourselves on being upfront and transparent, putting our clients’ needs first at all times. For a builder you can trust to provide a positive, enjoyable and stress-free building experience, turn to Aston Homes.