Investing in a new home will certainly be one of the biggest financial decisions you’ll ever make. As such, you can’t afford any lapses. Of course, ensuring the quality of your new home starts with choosing the right builder to work with. Here are three major questions to ask before taking your pick.

“Are you qualified and insured?”

First of all, you have to make certain that the builder is fully licenced by your local regulatory bodies and that this license is up to date. Ask them to show their licence card, or better yet, confirm it by running a search online or phoning the Building Commission directly. Additionally, the builder must carry insurance to protect you in case of a faulty build.

Owning a home is the ultimate dream for many people. As a potential homeowner, choosing the land where you’re going to have your house built can be intimidating, especially if it’s something you have no experience with. Fortunately, you can make the process easier by keeping in mind a few tips.

Location is everything

When it comes to land selection, your priority should be to choose a location that fits you and your family’s needs. This means proximity to schools, department stores, and parks must be considered, as well as the availability of multiple transportation options. Likewise, assessing the neighborhood in terms of walkability, safety, and the people living there can make a huge impact on your future quality of life.

Fit for building

Once you’ve found the right location, you need to assess the land’s suitability for home building. Building on steep ground can be costlier than level land. You also need to consider the availability of power, water, internet, sewerage, and other basic services. Flooding potential should be checked as it can influence insurance costs.

There are home builders that package house and land purchases in one convenient bundle. With this type of package, you do away with the need to select land and check its viability for building as these steps will already be done for you. You still get to choose your home’s location and orientation.

In their announcement of the 2015-2016 budget, the State Government made a major change that affects the real estate scene, particularly residents who are planning to buy their first homes. The $3000 First Home Owners Grant (FHOG) that you can qualify for when you buy an established property is no longer available. Fortunately, the FHOG for purchasing or building new homes was not reduced or removed from Western Australia’s budget.

Receiving the keys to your brand new home won’t be the end of your homeownership journey, but it’s usually the part where your feelings are at their peak. You ran the gauntlet of filing paperwork and inspecting the progress, so it’s only natural to feel that you’ve accomplished something big. Here are other feelings associated with getting a place you can call your own:

Free

With your own home, you have the freedom to do whatever you want with it. You can install a few improvements without getting your landlord or building administrator’s permission (although you may still need permission from the local government). Paint the walls a different colour, put more gnomes in the garden, expand living space—you name it.

Loans for newly constructed homes can be obtained by either the prospective owner or homebuilder. As the name suggests, this type of loan is only applicable if you are having your home built from the ground up. Typically short term, construction home loans are mainly designed to fund the five stages of the home construction process, namely purchase of the land, flooring, roof, lock up, and finalisation. You can decide to break up the loan’s drawdown into five progressive draws that correspond to each specific construction process.

The moment one part of the construction is finished, you may then draw down the next portion of the loan. After each completed portion, a valuer will generally inspect the work to ensure it fulfils every criterion listed in that particular portion of the construction home loan.

If you’re planning on buying your first ever home, remember that you have several options when it comes to what goes on top of your house. Some of them can be a bit quirky (if not downright outrageous), and some can be simply breathtaking. Before you have your home built, it’s not a bad idea to first see if there’s a particular roofing style or material that can enhance the look of the home design you have in mind.

Whether you’re a lucky recipient of a Perth first home buyers’ grant, or are just checking the place out first while staying with relatives, there are loads of activities to enjoy in Perth, and many won’t cost anything!

Go snorkelling in Shoalwater Marine Park

Jump into the warm waters with WA’s largest colony of fairy penguins, sea lions, dolphins, and more. The major underwater attraction is the marine wreck and seagrass meadows where hundreds of marine species are waiting to welcome you.

The home you're building right now won't be the same home in 10 to 20 years. Over that span of time, it may be subjected to a few modifications to suit your changing needs and the environment. You may not need a skylight right now, but an impending rise in energy prices in Perth by 2016 (according to reports) might make you opt to install one.

If you have enough money saved and are secure in your job, there’s no better time than now to buy the home you’ve always dreamed of. That said, before you even start looking at a new home, you need to identify what type of real estate you’re interested in so you can choose the best one for your needs.

Choosing a property

Only one thing really matters in real estate: location. Everything else is just icing on the cake. So before you invest in property, be sure that it’s in the right location for your needs. How far is it from the office? From your children’s school? Are the transport systems in place highly efficient? Is the neighbourhood safe? Buying a property that addresses issues such as these is the best way to ensure a satisfying, problem-free purchase.

The decision to buy a house for the first time can be considered as one of the biggest moves that a person can make in his or her life. The action would involve the use of large amounts of financial resources or the adoption of financial schemes that could make monthly amortisations much more bearable. It is then understandable that people would want to be financially prepared for such transactions as even simple mistakes can have significant repercussions. Here’s a financial checklist that first-time home buyers can use as a guide to prepare for their investment:

Purchasing a new home is always a daunting task, as it is one of the biggest investments an individual can make. The decision is even more difficult for first home buyers who aren’t too knowledgeable on the process and on the real estate market. There are simply so many considerations that need to be made, and one misstep could lead to a significant amount of unexpected expenses.

This is particularly true when a new home is not just being bought, but also being built, repaired, or remodeled to suit a buyer’s preference. Sometimes a new homeowner may unknowingly choose an inexperienced builder, and in that sense eventually be stuck with a home that needs many repairs in the long run or simply needs to be redone. From an investment point of view, a design and structure that is not well thought-out does little to nothing for the property’s overall value.

A simple look over a builder’s portfolio of available home designs is almost always a great indicator of what they can do. By way of asking for references, a first home buyer can also get a better idea of what to expect from their prospective builder.

The most reliable builders also often have a well-established place in the real estate industry, where they not only offer to build and design a home, but likewise provide assistance in the acquisition of the land and financing necessary.

Everyone dreams of owning a home. The question is what kind of home would be best for you– apartment or house? Both have their share of advantages and disadvantages, depending on the needs of home buyers in Perth and other residential areas.

Compartmentalised living

Apartments are generally for single folk or a family of four at most. They cost less to own than a house. There is a deeper sense of community because of close proximity to neighbours. Safety is not an issue since apartments are easy to secure.

In contrast, high-density residential areas tend to be noisy, with units close together. Apartment owners need permission to make changes to their unit. Apartments don’t appreciate the way houses do, unless they are in a desirable location or unique in design.

The house to call a home

Owning a house makes you the king of your own castle. You can do as you please with it to match your lifestyle requirements. Furthermore, being a larger property affords the owner larger capital gains. On the down side, houses are more costly to maintain in the long run than apartments.

Everyone’s a winner

It’s impossible to weigh the advantages of one over the other because not everyone has the same needs and circumstances. Therefore, the winner is the home buyer whose needs are answered by whatever they chose. The best way to pick a winner is to be realistic and forward thinking before signing on the dotted line.

Buying your first home requires a substantial financial commitment. As such, you shouldn’t leave room for regret to squeeze into the picture. To make sure of that, ask yourself the following questions before you finalise the details of your contract:

How quickly can I get a home loan?

Trick question. Regardless of whether you are buying an existing house or having a new house built, make sure you have been pre-approved for a loan before you start looking at houses. Not only does this help set your budget, but it also helps speed up negotiations with the seller or the builder.

Experienced and veteran home buyers know how crucial property inspections are to the entire home shopping process, especially when they are looking into aged homes. However, first home buyers may not be aware of this important step. Some of them may even be tricked into thinking that if they are buying newly-built homes then they won’t need a property inspection when in fact, it’s the opposite that is true.