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10 things to look out for when inspecting a display home

10 things to look out for when inspecting a display home If you’re looking into house and land package options, then inspecting display homes is an exciting next step. But before you jump in feet first, some industry insiders share their top tips and how to prepare so you get the most out of your visit. 1. Know your budget Before the fun of looking for your dream home begins, first know how much you can afford to spend. “Be really clear about that before you enter and know what your repayments will be and make sure you’re comfortable with that before you go out there shopping,” advises general manager of the Homebuyers Centre, Simon Mongan. In the same way you are going to shop around for your house and land, shop around for finance, too. “Not all banks are created equal and not all brokers are created equal,” he warns. “Someone who specialises in construction finance is usually the best because there’s a lot of moving parts when there’s a block…

What you need to know before building a granny flat

What you need to know before building a granny flat More than half a million homeowners across the eastern seaboard could build a granny flat if they wanted to, a recent CoreLogic report revealed. And there are plenty of reasons to consider it. Your adult children could use it as a pit-stop on the road to independence, enabling them to save a deposit. Your elderly parents could use it as place to age gracefully, without infringing on your privacy. Or you could use it to earn a little extra income, by bringing in some tenants. But before you call in the diggers, here are a few points worth considering. Why do you want to build one? The first step on your granny flat journey is to consider your reasons for building one. The recent CoreLogic report found that building a granny flat could boost your property value and rental income by 30 and 27 per cent respectively. But even so, Wakelin Property Advisory director Jarrod McCabe says choosing to build isn’t a decis…

Granny Flat Could Boost Property Values by 30 Percent

CoreLogic

More than half a million home owners across Australia’s eastern seaboard have enough space on their property to build a granny flat, which could boost home values by 30 per cent and add around 27% to rental income. Combined analysis by CoreLogic and Archistar identified 583,440 properties in Sydney, Melbourne and Brisbane that meet the criteria for an additional self-contained unit of at least 60 square meters. Constructing a two-bedroom granny flat would require an initial investment of around $200,000, while the outlay for a one-bedroom dwelling would be approximately $120,000. CoreLogic Head of Research, Tim Lawless said: “Building a granny flat is becoming an increasingly compelling proposition for homeowners in a relatively lacklustre market. Not only can it help to manufacture new capital gains, but it has th…

What you need to know before building a granny flat

Granny flats, or secondary dwellings, can allow home owners to keep parents or adult children close by while giving them their own space. They can also be a great way to generate rental income.

But before you book in your builder, there are a few questions you’ll need to ask and some research to undertake to make your project a successful one. Can I build a granny flat in my backyard? Don’t assume that because your neighbour has one, you can have one too. Each state and territory has different laws governing secondary dwellings, with rules on block size and dwelling size and the distance you’ll need to leave between boundaries, trees and your existing house. Allan Stroud, owner of Lifestyle Granny Flats, says in Queensland the rules differ from shire to shire. “Each shire has its own particular requirements and limits as to how big you can build, and these can change,” he says. “For ex…

Visiting a display centre

Visiting a display centre is the start to choosing the right builder

News Corp Australia

Metricon’s latest design, the Bayville, has a ground-floor master bedroom suite and easy flow between indoor and outdoor spaces.

QUESTION: I’m considering going with a project builder for my next home but there are so many builders on the market. How do I make the right choice?

ANSWER: No matter how big or small your budget is, building a house is a major investment. And there are plenty of advantages of going with a project builder, not the least of which is having the opportunity to walk through designs until you find one you love.

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