The first home builders journey can be a daunting path to get started on.
At DRHomes, we’re here to make your build process as smooth as possible. These five steps are our recommended path to starting your new home build.
Step One – Find out your budget
This means finding out how much you can borrow for your land and/or your build. DRHomes can direct you to some great construction mortgage brokers to start the process, simply ask! Otherwise, you could start by speaking to your bank but make sure to check your interest rate against other bank offerings.
Step Two – Choose your land
With your budget in hand, you can now look at land!
DRHomes works with a number of land developers and would love to help you find your new land to fit your dream home and budget. Your budget may decide the location for you however we suggest making a list of areas you would like to live in and rank them from 1 to 5 with your most desired to your “it’s ok” suburbs. This will help to guide the search process for available lots. Want to get an idea of prices? Check out DRHomes current house & land packages.
Step Three – Design your dream home
Now it’s time to really nut out the details of your dream home. DRHomes Home Coaches will guide you through the home design, floorplan alterations and all the inclusions by creating a comprehensive new home proposal. Want to know what’s already included? Check out the range of inclusions in our builds here.
Step Four – Revisit your budget
When you’re happy with the land and home proposal then it’s time to speak to your mortgage broker or bank again to check the proposals against your borrowing capacity to make sure you’re still on track.
Step Five – Deposit and go to contract
If everything is looking good from your budget to your land and new home proposal then it’s time to pay your deposits on your land and new home build but make sure it’s conditional to finance. Once you’ve paid your deposit, DRHomes will then be able to finalise the new build contract by getting soil & contour tests done, finalising the build plans with our draftsman and ensuring the proposal price is perfect with our estimator. The final contract is then what you take to the bank or mortgage broker to finalise your mortgage.
If everything has panned out and finance is approved, the contracting process is over and we start the construction process!