Few things are more inspiring than watching your dream home take shape from the ground up. These tips will help you avoid hidden costs and keep things on track.
Queensland housing developer Ausbuild has put together a great list of common traps and hidden costs for new home buyers to keep in mind.
Don’t let builders dazzle you with the cheapest estimate they can put in front of you. When shopping around, ensure you are making as direct a comparison as possible.
Compare the asking price on a property to other sold prices in the area to get an idea of what the right price should be.
Beware contracts with a long list of ‘estimates’ and ‘TBA’s’. To avoid a blow-out in costs, ask for a fixed price.
Leave no stone unturned and ensure you have information about every cost. Keep an eye out for clauses such as ‘pending soil test’.
Watch out for builder promotions offering big discounts and bonus inclusions.
Remember, if it sounds too good to be true, it often is. Look for real value.
Ask if they will build the home ‘as displayed’ and provide you with a fully itemised cost.Don’t be distracted by extravagant display homes. Some builders won’t even construct many of the impressive features they have on show within their displays.
A new home should comfortably meet or exceed the six star minimum energy efficiency ratings.
Be wary of builders who charge you extra just to meet the minimum standard.
Some builders will create a level home site on your block for the house, but leave the backyard steep and un-useable. A good builder will consider your needs more carefully – a user friendly backyard is important for lifestyle.