Sydney is the capital of the state New South Wales in Australia and is home to more than 5 million people. Its median house price has risen by $100,000 since the new year began, according to an article by The Urban Developer.
Home builders that build houses en masse offer a variety of home designs to choose from. You can customize these standard designs further by adding intricate personal touches and changes.
Usually, volume housing ( as project housing is also known by ) costs less per square metre than a house built by a custom home builder. Project homes in Sydney are a smart, cost-effective alternative to regular housing.
This article will outline and discuss things you need to do before you make the mountainous decision to buy a project home.
Do Thorough Research
Buying a home is a huge, daunting decision. That’s why you should include plenty of research in your decision making process. Ideally, you ought to start your research months or years in advance so you have enough time to filter out the homes that are right for you. You may want to consider professional advice from a building sustainability expert or designer.
Decide What Your Budget Will Be
The bank or institution you’re borrowing from will let you know your borrowing limit and give details of legal costs, stamp duty and other hidden charges. Of course, you can always look around for an increase in your limit with other banks, but ask yourself if you might be over-borrowing and consider the pros and cons of a bigger house vs mortgage repayments.
Keep in mind that there may be additional costs involved. These can be :
- Site allowances – costs specific to your site that can include: safety fencing, sediment barriers, excavation , drainage or stronger footings.
- Variations – these are charges for changes you make after signing the contract, which usually are quite expensive.
- Preliminaries — plans, council approval costs, geotechnical and engineering certification, surveyor’s fees, insurances, bank and legal fees
- Inclusions — additional features or quality you request for that aren’t covered in the base building cost.
Wants Vs Must-Haves
When purchasing a project or volume home, it’s typically a given to negotiate and discuss what kind of features and needs you want in your home before signing the contract.
Try to prioritise features that are cheaper over the home’s life cycle, save time and work, reduce impact on the environment and improve quality of your life.
Choose A Site And Design
Pick your site carefully based on locality, slope, previous use, and existing buildings.
Design features to think about include :
- Layout and space
- Thermal Comfort Features
- Lighting and Appliances
- Indoor Air Quality
- Day lighting
Get A Final Quotation
So you’ve narrowed down your search of project home builders to a few you really like. Now, go ahead and get the quotations from the builders of your preference.
Project homes in Sydney are a popular choice for first home buyers or those tight on money. This article hopes to help and guide those of you who are looking for a reasonably priced home with a good design.
After you’ve finished doing all these steps, you are probably now more confident in making the decision to buy your own dream project or volume home.