There are plenty of reasons you might consider buying a project home; the ability to visit the house before you commit to buying, avoiding a lot of the costs involved in designing a home from scratch, and the ability to visualise how the home fits on your land, just to name a few. Despite the long list of benefits, however, there are a few things that you need to consider first.
Reputation
Do your research regarding the groups you are browsing. People talk fairly openly in the home buyers market, and companies know that a stellar reputation will benefit them more than just about any other form of marketing. While reading, however, keep a few things in mind.
When you’re seeing bad reviews, don’t just look at ratings. Look at what customers are saying. If the same complaint crops up repeatedly around the company, then it’s probably legitimate. That said, if you see the same complaint appear in reviews about many different companies, it may be that you’re reading about one of the shortcomings of investing in a project homes in Sydney.
The same can be said for positive reviews. Make sure you understand the substance of people’s comments and you’ll have a better idea of what you’re getting in for.
Function
There are professional advisers to help with this kind of thing. If you decide that this is not necessary, however, just be sure about what you are looking for from your new house. If it is an investment property, think about your target tenants and what there needs are going to be.
If you’re looking at creating a share-house, consider including more private spaces. Failing that, larger bedrooms that allow tenants to utilise their bedroom as a combination “living space” can also work. Alternatively, if you’re looking at moving a family in, then a project home that affords a large amount of communal space is probably a better move.
Carrying on from there, access to utilities is important. Think about number the number of bathrooms in the design, whether it is enough, whether it might be too small or, conversely, too large.
Location
A big part of building a house is considering how it will fit on your land. There are the obvious hurdles, of course; keeping a particular tree on the property or paying for removal/relocation, the direction you want your property face, street access. But there are a few other things to think about.
It is more than likely that your project home is going to be built somewhere where there are already established houses and homes. While limiting yourself may feel wrong, remember that if your house doesn’t fit the overall aesthetic of your neighborhood, it will have a lasting effect. Maybe you want the place to stand out, and that’s fine too. You just need to be aware of the surrounding area and just what kind of impact the house will have.
Also look at the general fit for your property. Looking back at your reason for buying a project home, thing such as garden space, the size of the back lawn compared to the front, whether multiple car spaces are necessary or expected?
Buying a project home is not guaranteed to be the cheapest option, but the potential benefits often pay for themselves. It is important to not get bedazzled by the bells and whistles, and not to rely too heavily on the sales pitch for all the pertinent information.
It’s the little things, the details that you attend now, that will ensure that you have a profitable, experience in buying your house.
