important that they ask themselves if whether the size of the stand is worth it or not , and maybe consider other cheaper options . Some of the things to be considered in the process include connection to the main water supply , electricity and waste networks in the area because it is very costly to secure these connections yourself . If the stand also already has a fibre or cable connection to the Internet , then you are good to go .
Everyone longs for a convenient place of residence , people want to live-work and play without travelling much in between locations . Think about the location of the stand in relation to work , schools , shops , public transport hubs and sports or entertainment venues . Land on the outskirts of towns may be much cheaper but living there will almost certainly mean high transport costs . This is one of the reasons for the growing popularity of ‘ brownfields ’ projects , in which old innercity industrial sites are being redeveloped into new residential areas .
Think About the Style
of Home you Want to Build This can have surprising cost implications and you would do well by seeking professional advice from an architect , developer or qualified builder before you make a final decision .
You might like the idea of an open-plan layout , but because there are fewer walls to hold up the roof , the beams required to do so will be more expensive . You may also need more costly wiring and plumbing solutions and open plan homes are generally also more expensive to heat in winter .
By contrast , you might think it would be more expensive to build a doublestorey home than a single-storey with the same floor area , but it actually could be cheaper . A double-storey home can be more suited to a smaller stand , because it requires much less roofing and a smaller foundation .
Always get More Than one Quote – and Then Negotiate Like with buying clothes , when you ’ re about to build your home you need to shop around for everything , including your lender , architect or designer and material suppliers and builder . Even if you need a building loan , sometimes a small difference in the interest rate can make a big difference to the eventual cost of you home , and it ’ s best to get a reputable bond originator to help you secure the most favourable loan .
Additionally , you need to think about the cost of getting building plans drawn and approved – which can be cheaper if you buy land in a ‘ plot-and-plan ’ development where the developer has already done a lot of this work and can offer you a selection of approved home plans . Furthermore , it is usually easier to access finance like home loans and subsidies for construction in this type of development , while some developers will even cover your loan registration costs and certain legal fees .
Always go for Quality
When you Choose a Builder It is extremely important to spend time in selecting a reputable , registered builder with a real track record of quality work that was completed on time and to the satisfaction of their previous clients
SA Real Estate Investor Magazine FEBRUARY 2021 29