Building a House: Some Key Points

Building a house is the dream of a majority of people. But the dream can quickly turn into a nightmare. The construction of a house remains a project that is studied upstream: construction budget, miscellaneous costs, choice of land, materials ... Here are the strategies to be implemented to prevent most of the problems that may arise over the years and month.

Before you start building your home, you must follow a few rules and ask yourself certain questions. What are the expenses linked with the work? How to choose the right land? What materials should be preferred? Which Home Builders Bacchus Marsh should we call on?

Prepare your financial plan for the building of your house

Evaluating your budget is not only adding the price of land and a house. Bacchus Marsh Builders, also help you in planning for ancillary costs that you do not immediately think about. An inventory must be undertaken before any decision is taken. And this process takes time, especially when you go to your banker (and to his competitors, of course!) In order to develop a financing plan and to know the content of the envelope you are going to have. 

Then comes the distribution of this sum according to the items: the price of the land, the house, but also other costs that are difficult to reduce. And there, you quickly understand that the adjustment variable is unfortunately the very object of your dream: the house (its surface area, number of rooms, finishes, equipment, etc.).

Mortgage fees

Application fee.  They represent around 1 to 1.5% of the principal loan amount and are negotiable. Discounts of 20 to 50% are possible.

Interim interests. As the mortgage loans are released, you will start to repay the interest on these sums until the delivery of your house.  Payments that will be added to your current rent. 

Land costs

Recommended in case of doubt about the stability or the nature of the subsoil (see point 2, "Finding your land"). 

The commission of the Builders in Melton must be confirmed in advance. Most often, it is included in the price of the plot and paid by the seller. Get it confirmed anyway from the first contact.

Notary fees. They are broken down into fees and registration fees. It takes about 8% of the purchase price for an "average" plot.

Making it viable. It is like connecting your land to various services: electricity, gas, water, sanitation, telephone networks. In a subdivision, these costs are almost always included in the price of the land. For a "diffuse" (isolated) plot, the prices depend on the distance between the boundaries of the plot and the equipment to be connected.

The demarcation. It is essential in diffuse. Usually the cost is borne by the seller, but not always. Have it specified and, if necessary, request a quote from a land surveyor.