Guide to Buying your First Home

33 BUYING PROCESS Now you’re aware that it can take up to 18 months to complete your land transaction, you now understand that there is no great urgency to run out and purchase the home. Take your time and shop around. However, once you have purchased your new home you will at least have the new home price secured. Most building companies will offer you a firm price for an extended period. Make sure you ask the builder how long the price will be locked in for. If you wait 12 months before entering the building contract you may be required to pay more because of increases for materials and labour. Your bank will also require both the land contract and building contracts to process your home loan. Build with a reputable brand and keep it basic When it comes to choosing a builder, it’s a little more difficult, but I would suggest you go with a major brand with a reputation for building in the location you’re considering. And remember, don’t buy with all the bells and whistles, it is important to buy what you can comfortably afford, this is your first home and it’s a matter of getting started. Keep it basic and make home buying a reality. What are design guidelines? Design guidelines are a compendium of standards set by an external authority who works hand-in-hand with the developer of the project. This authority (Design and Review Panel – DARP) is in charge of ensuring the residential estate maintains a visual and environmentally conscious standard when constructing a home. When dealing with a land agent, they’ll provide you with a suite of documents relating to the estate, one of these being the ‘Design Guidelines’. This document lists exactly what the developer and ‘DARP’ expect from you and your chosen builder before you can commence construction. Typically, when your home is being designed, the builder is familiar with these guidelines and factors them in. Once your plans are complete, a builder will typically lodge them to the DARP for