Wednesday 12th July 2017
If you’re not up for the financial challenge of buying a house, it’s usually a cheaper alternative to build a new place from scratch. Vacant land is relatively affordable, and if you build on it yourself, you get to have as much control as you want over how the process goes and what the finished product looks like.
If you choose to build, though, you’ll need to have other skilled people by your side, guiding your efforts. That should begin with hiring the right contractor. Once you have this individual in place, your building plans should have a clear structure and purpose you can rally around.
Hiring the right contractor for you
You can forget about the big deposit and never-ending mortgage repayments of buying an existing house, and just build your own. If you do, though, you’ll need a good contractor to lead the way. Essentially, this individual is your project manager, making key decisions about the building process such as choosing building strategies and budgeting for parts and labour.
The Queensland State Government recommends that to find a good contractor, you get written quotes from at least three candidates and evaluate their pros and cons. The last thing you want is to commit to a huge project with someone who’s unqualified, so seek legal and financial advice before making any major decisions.
Shaping your building strategy
YourHome.gov.au notes that ideally, you’d get together with your contractor and map out a building strategy that’s risk-averse. You want to use building materials and strategies that are proven and predictable; surprises are not your friend.
That’s why the best builders are those who are thoughtful and responsible when it comes to time constraints, environmental concerns and, perhaps most importantly, your finances. After all, building a home is expensive.
Getting financial help if you need it
If you decide that you need help with financing your home-building project, that’s not a problem – simply speak to us. We have all sorts of loans available – what you choose will depend on your specific building plans and financial needs.
Contact us today to discuss your options, and we’ll help you find one that works best.