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.

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.

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.