New Home Developments – Geelong Homes

Image

New Home Developments – Geelong Home

07th OF September

What You Should Keep In Mind When Going About New Home Development

Whether you are attempting to build a new home in Geelong, Melbourne, or beyond, knowing what to do beforehand can save you thousands of dollars and countless hours of time. Below we cover 5 quick points that are worth considering when it comes to new home development.

Create a Plan A, B, and C

New home development can be far more challenging than renovation or expansion of an existing property. The first thing you should do with new home developments is to begin brainstorming. Create your ideal conditions. Start with a plan A. Once that is fleshed out, move to a plan B and a plan C. What you are looking to do is brainstorm and see what ideas you like. Reaching for the stars may not be feasible, especially if you have a budget. However, it will give you a good sense of what is possible and what can be achieved.

Determine Your Budget

Your budget will consist primary of two costs. The first are costs that you can reasonably estimate on your own. The second are costs that are unpredictable and are bound to come up. Upfront costs can be gathered by researching online and looking through estimations from professional teams. Buffer costs should comprise 10-20% of your total cost and be added on top of it to cover the inevitable costs that will crop up over time.

Find Your Spot

If you plan to build your new home on the property of your old home, then you are in luck. While you will have to cover the demolition costs, you will make some of the money back by already having utility lines running to the property. A new undeveloped property on the other hand will include no cost of demolition, but a cost in running utility lines to the property.

Plan

The best thing you can do is to plan. Read up as much as you can before starting the process. Carefully plan out the amount of time it may take, how much control you want in the process, and the overall design of your new residence. While a company will be more than happy to help, developing these ideas on your own will help you manage the professional team and keep them on target with your dream construction.

Hire A Professional Team

Last but not least, you will want to assemble a professional team. You can hire a developer that keeps their trades in-house or go the route of hiring contractors yourself. In the end, your decision will be based on availability of services and the direction you want to go moving forward.