With the availability of government financial incentives and attractively low interest rates, there’s never been a better time for renters in Australia to own their own home. However, although people are attracted to the idea of owning their own homes, difficulties in securing deposits, knock-backs from banks, astronomical prices and the hard work and commitment involved put many off.
Unsurprisingly, an increasing number of Australians are looking for ways to build their ideal home instead of buying an established property. Done properly, this can be a financial winner. But those looking to ‘go it alone’ and build their own home can also face the real risk of financial ruin. Some find that they are unable to navigate the complexities and intricacies of the construction industry; the costs of building a home can quite easily spiral out of control from the word go; and furthermore, it can be an enormously stressful and time-consuming undertaking.
Home Ownership Made Easy
The New Home Group company, based in New South Wales, takes the heavy lifting out of the home-build process by providing you with a full and comprehensive consultation service: from concept to finance, design and development.
“Our goal is simple: to help as many people as possible to own their own home. New Home Group’s combined experience within the construction and property industries is over 100 years and, as we’ve proved time and time again, we’re very well placed to make people’s home ownership dreams come true.” Karl Mifsud, New Home Group GM
The extraordinary success of New Home Group’s flagship home ownership programme has shown it to be a realistic and effective way forward for renters who are struggling to achieve their dream of finally owning their own home.
Why build your own home?
There at least two strong reasons to build your own home:
- Self-builds, if managed properly, should be worth significantly more than the standard construction costs upon completion. This means that you get your ideal home for a fraction of the market price.
- Building your own home gives you the luxury of including features that may be either impossible or too expensive to install in established properties.
How does the New Home Group service work?
According to CEO Karl Mifsud, New Home Group’s goal is to help renters in New South Wales own the home of their dreams, quicker than they ever thought possible. The company has “taken all the mystery out of the home building/ownership process” and created a programme for those in rented accommodation seeking become home owners. The consultation service comprises three aspects – finance and budgeting, selecting and securing land for the build and design and development:
Budgeting and getting finance approved
New Home Group will work with you to research the likely cost of land, architect fees, builders, materials, fixtures, fittings and everything else you’ll need when you build a property from scratch.
They will then help you with one of the most substantial hurdles that need to be overcome before construction can even begin – securing finance. The amount you’re able to borrow will, in most cases, determine your final budget. But successful home ownership owes much to the skills of your broker and, as Mifsud rightly argues, not all brokers were created equally. The company boasts a strong network of leading, highly respected brokers who have access to all of Australia’s major banks and who will help you secure the best possible funding option for your situation.
Selecting and securing land
Once your budget is established, the most crucial decision you’ll be assisted with is finding a plot of land for your new home. Although you may already have an idea of where you’d like to live, as Mifsud points out, there are a myriad of factors to consider before you make your final decision. For example, how will you get to and from work? Are you reliant on public transport? If so, you’ll need to check which areas are best served by public transport. If you have a young family then you should check out the quality of the local schools, too. Another aspect you may wish to consider is the market value of properties in the surrounding area; this will give you an idea of the likely profit you’ll make should you wish to sell your home at a later date. Once you’ve chosen your preferred location, New Home Group and their partners – land developers, private sellers and real estate agents – will help you secure your plot of land at an advantageous price.
Design and development
Your house is your castle, but it’s also the place you’ll call your home. New Home Group works with an established team of architects and building contractors to ensure your home is built to the most exacting standards of construction and build so it remains structurally sound for years to come. Interiors-wise, the standard inclusions the company provides are both comprehensive and impressive – expect luxury features such as designer kitchens with granite worktops, multiple living areas, elegant bathroom suites, landscaped gardens and much more. What’s your particular aesthetic? A three-bedroom minimalist space? A four-bedroom, contemporary family home?
New Home Group offers a full ‘turnkey’ solution – from the type of fence you want to the numbers on your letterbox. Their level of inclusions is the most comprehensive in the industry; something Mifsud says his team are particularly proud of.
How to get started
New Home Group is challenging the established means of home ownership. And it couldn’t be easier to get started. If you are serious about becoming a home owner and getting your foot squarely on the property ladder, they will almost certainly be able to help. To find out more, email…