Building your first home


#61

correct! you were obviously the same?


#62

How many people who have posted here about using big builders have been in their homes more than 15-20 years? I’d be really really concerned about the build quality at that point.


#63

mk2


#64

My old boss had 2 Metricon homes…probably 10-15 years in each. Recommended them highly.


#65

Where do you guys think is a good place to buy furniture furnish your first place?


#66

The area that we’ll very likely build in will be just outside of Bendigo, a House/Land package. We have a decent idea of what we want so far but are probably a year or so out from getting very serious. It’ll be the basic 4 bedroom idea with a living area. With these packages, are the extras something you can haggle in as included in the price, or are they just the added costs afterwards that they’ll sting you on and won’t throw anything in?


#67

Also interested in the Loan process and which people have gone with who? I’ve noticed a few outside the big 4 have better interest rates, is there any reason you wouldn’t go with them? I’ve also been told that you should try and get a discount when you enquire also, anyone had much experience?

We’ve had personal loans etc but obviously to this extent so everything in this thread so far is fascinating to me. We focused on getting married and paying that off and last year was basically the first non-paying off stuff year we’ve had. We’re debt free and have no credit cards and we’re both good savers. Basically it’s very likely we’ll have to pay LMI seeming as we’ll want money leftover for stuff like landscaping etc. So the general plan is live as is paying rent for a year and saving, then live with inlaws for 4-6 months whilst house in being built (and save a chunk more money). Go with a broker or investigate yourself?


#68

here’s a few random tips from my building experience…

  • With a 400k construction budget, I suggest finding a home builder that has the best reputation and acceptable designs in the right price in the area you are building. They will do the soil test for you.
  • Have a detailed specification and when construction commences, visit the site every day. Make that part of the contract (you’ll have to get your red ticket).
  • Respond to builders queries ASAP as that may cause delays.
  • Check all the work against the specification. Don’t pay the stage completion until you are happy with the work.
  • Make sure the slab in the garage is finished well and they don’t damage it during construction.
  • Do the landscaping yourself to save a ton of $$$. (75% less from average quotes including materials)
  • Don’t use render on outside walls as it starts to crack and fail after about 5 years.
  • Any outdoor alfresco/patio area floor should drain well (otherwise when you wash it its a pain to get rid of the water)
  • Don’t use box gutters with straight vertical down-pipes and a steel roof. Condensation and water dripping will drive you nuts in the middle of the night.

Good luck!


#69

Use a mortgage broker. They split the profit with the institution anyway so you don’t need to pay them a cent.

Deals are the same as if you were going direct but if there are complications or delays they have a more direct line with the financer.

I will add Westpac for us buggered up every step of every payment. For the final handover payment I called them daily and asked if the cheque would be ready on the date we needed it. I got seven names of people I spoke to. When I got to the bank and they didn’t have it ready I seriously went off. I created quite the scene. Was the most upset i’ve been.

4-6 months for a build seems pretty quick doesn’t it? Mine was 8 months with no delays.


#70

We had an extension done a while ago, couple of things still annoy me that i wished i complained about at the time. The bathroom had 900mm width for the sink/vanity unit…oh but that was before plastering so now there is only 850mm space. Had to return the unit and get a smaller unit and live with the gap between unit and wall.
For the back glass sliding door, they put the screen door on the inside. Just stupid.
We did all the filling and painting, painful but saved heaps.
Somebody else mentioned extra storage, we made sure we had extra cupboards put in as well.


#71

I cannot recommend this highly enough. Takes so much of the pain out of the process. I can recommend ours via PM if you like, CB.


#72

External power points. Have them.


#73

Same same. Just refinanced our properties and saving a huge amount with a new lender. I would not use the big 4 based on the rates available else where.


#74

As others have said, use a mortgage broker. They cost nothing and do all the hard work for you.

Whilst it’s a little more, get an offset loan if you can. Means that if you have money it the offset account at the bank ( you can access this money whenever you like), any savings will be deducted from your interest.

I would also recommend using a bank that has branches. You may find cheaper rates but most are online banks.

FYI, our mortgage is with Suncorp. Offset account at 4.19%. We looked at maybe switching last year to a better rate and they matched that rate within 2 days.

Oh and never ever EVER get an interest loan. Just get a standard 30 year loan.

If you can afford it after settling in, through in an extra $30-$50 per week on the mortgage. Can shave 10+ years off the loan and save tens of thousands. Most companies give you a free redraw facility so if needed you can access that money if ever needed anyway.


#75

Is it a timber sliding door? If so then that is standard.


#76

the back yard they did because they crushed the pipes and you could run your hand between the slab and the ground on one corner


#77

It’s a stressful thing. I’m sure you already know that. I wish you the best of luck Crazy Bomber. Let us know how it all goes. :slight_smile:


#78

…and do you know what I personally found very stressful? The number of times you have to sign your name! On all sorts of forms, agreements and documents. I don’t know how many times exactly but it seemed like hundreds. Seriously! I can’t stand the fine print and terminology on those documents - bank, builder, various authorities blah blah blah. I usually looked the person in the eye and said “What exactly am I signing here?” They gave me a quick explanation, I made strong eye contact, as if to say “You better not be leaving anything out,” and then my wife and I signed. This all took place a few years ago now and nothing has bitten us in the bum yet. Phew. :slight_smile:


#79

I work for Metricon in sales. Most of the problems (and extra costs after sign up) arise when the sales person does not know what they are doing. They either don’t know enough about the area they are building in. i.e don’t know anything about building on blocks with excessive fall (slope) or do not go and visit titled blocks prior to doing a quote.

A lot of the more challenging blocks I sign clients on have up up to 5m of fall. Once you get comfortable quoting on these types of blocks you don’t make mistakes.

Understanding what you are getting for your money is also key to not having surprises later. If you do not know what sort of taps, ovens, hot water service you’re getting, you have not done your homework and it’s too early to sign up.
Make sure the sales person shows you the standard specs. You can do this by looking at a display with the basics, a house under construction nearing completion or taking you through their design studio where you would select your colours etc. all this can be done before you sign up. Make the sales person earn the job. It will be better for both of you once you commit.


#80

I pestered the Warrnambool guy many times…and went to a lot of display homes all over Melbourne.

Did the proper accessory selection in North Geelong.

Probably the only thing I’d have second thoughts over were the oven and cooktop. I’d had induction before, and only skipped it this time because of its issues with wok cooking.