The 5 Best Investments When Planning Your New Build

The 5 best investments when planning your new build

Choosing to build is a major decision for the future of you and your family. It’s a chance to get the house you want, where you want and to get it done right the first time. While construction generally takes around six months, a lot of people aren’t aware that the KiwiSaver of a new build generally take longer. Investing time and money before work begins will not only provide peace of mind when construction commences, but it gives you every opportunity to ensure a successful project.

1 – Find the right mortgage

Before looking at house plans, finding a section or even thinking that building is the right option, it’s important to be confident that the investment is something you’re able to afford. To build a new home, especially your first one, there are a number of ways the Government can help. You may be able to withdraw from your KiwiSaver or be eligible for a KiwiSaver HomeStart grant, however it’s important to find out if you can afford regular mortgage repayments.

Investing the time early on will help you understand what you can borrow to build, and Kiwi Bank have a great home loan payment calculator that can help.

2 – Find the right location

There’s a reason that, “location, location, location” is key when it comes to property, and that’s because it directly impacts the value of your property as well as your future lifestyle. The distance you are from the supermarket, work, public transport and local schools are considerations that need to be made as soon as you start looking for a section. And on top of that, the actual lay of the land itself requires some research too.

The cost of your build will go up if access is particularly difficult for tradesmen, and if your section has some elevation then you will also have to factor in the price to level to it. We offer house and land packages that take the guesswork out of finding a section in growing communities, otherwise feel free to read our article about finding the perfect one for you.

Read more about choosing the right section. 

3 – Choose a good property lawyer

Once you’ve found the perfect section, the next thing you’ll need is a lawyer responsible for conveyancing. Ask friends and family or do your research online to find one, and don’t be shy to meet with a couple. A good lawyer will advise you on any legal issues that may come up with your local council in the next stages of planning, and easily navigate the paperwork that comes with Sale and Purchase Agreements.

4 – Choose the right house plan

Making sure you have the room your family needs to grow is vital when it comes to finding the right house plan. It’s important to look past the number of bedrooms and bathrooms you want and consider how your lifestyle can be seamlessly integrated within the boundaries of your new section. Things like indoor/outdoor flow, open plan living and the orientation of your home on the section are all key to making sure you aren’t making costly changes during construction. Working with an architect or draftsperson here can be a valuable experience, otherwise, we have over 65 pre-drawn house plans online that can be customised to suit your family 

Check out our huge range of customisable house plans.

5 – Choose the right builder

Much like picking the right house plan or lawyer, choosing the right builder and project manager is something you only want to do once. Most builds take around six months to construct, so ask around again and do your research. Find out how long they think it will take and don’t be afraid to ask to see examples of their past work. You’ll need other tradesmen, such as electricians and plumbers, too, so ask who they recommend and get their opinion.

On the other hand, by working with a company like us, it’s possible to have the entire build managed by a professional project manager that keeps all the finances in one contract; ensuring quality workmanship and a great finish.

If you have any questions or would like more information, feel free to get in touch.

 

Published:  28 November 2018
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