BUILDING YOUR FIRST HOME

Building your first home is a significant milestone in your life. It’s an exciting and often overwhelming process, but with careful planning and research, you can make the process much smoother.

In this blog, we’ll provide you with some tips to help you navigate the process of buying your first home to build.

Determine your budget and get pre-approved for a mortgage

Before you start looking for your first home to build, it’s important to determine your budget. This involves assessing your current financial situation, including your income, expenses, and any existing debts. Once you have a clear picture of your finances, you can determine how much you can afford to spend on building a new home.

Getting pre-approved for a mortgage is an important step in the home buying process. It allows you to know exactly how much you can borrow from a lender, and gives you an idea of the interest rate and monthly payments you can expect. This can help you narrow down the right floorplan to build within your budget. At Metro, we can put you in touch with Finance Brokers to help you guide you through this process.

Make a list of must-haves and nice-to-haves

It’s important to have a clear idea of what you’re looking for in a home. Make a list of must-haves, such as the number of bedrooms and bathrooms you need, the location, and any other essential features. You should also make a list of nice-to-haves, ducted air conditioning, walk in pantry and second living area.

Attend a Display home to view designs

Attend one of Metro's many Display homes and take notes and photos of each property you visit, and ask your Metro consultant any questions you have. It’s important to work closely with your Metro consultant.

Make your decision 

Once you find the design that you like and fits your budget, it’s time to go through the Preliminary Works Agreement which allows you to go to the next step of sharpening that to get a fixed price contract. Your Metro consultant will assist you to secure your land (if you dont have land at the moment).

Close the deal 

Once you agree on a price and other terms, it’s time to close the deal. This involves signing the purchase agreement, and finalising your mortgage with your lender. Once everything is in order, Metro's team will finalise all the documentation required to lodge to council for final approval, so that Metro can commence building your home, this timeframe depends on a number of factors such as land accessibility, supplier workload and council approval process. While you wait, you will be able to go through selecting your colours with Metro's team to confirm your selections!

Construction time

Once council has approved your new build, and the land is accessible, its time for us to commence construction! Time frames depend on a number of factors including tradie and material availability, however, its in Metro's best interest to build your home in a timely manner.

Buying your first home is not a daunting process, with careful planning and the right direction with a Metro consultant, it's an exciting and rewarding experience. 

Contact us today to find out how to get into your own new home build!