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Home Design Inspiration
Home Finance Tips
Home Building Tips
Knockdown and Rebuild
Latest News and Burbank Updates
Property Insights and Investments
Home Building Master Class
Related Articles
New building requirements that will impact all new home builds in NSW and ACT
If you are considering building new in 2023 and beyond, this is a must read!
see more.
QLD - What you need to know about the new National Construction Code (NCC) changes (updated)
see more.
Building Your Dream Home: Avoiding Common Pitfalls + Maximising Success
see more.
Unveiling the Secrets of a Flawless Home Build: Expert Tips and Tricks
see more.
Unlocking the Power of Equity in Housing: A Guide for Homeowners
see more.
Don’t hold off on purchasing your new home – it could be costing you money
Many of our customers ask us questions regarding home and build prices rising or decreasing and when should they start looking to purchase their new home.
In a process where you need to involve both the land, build and lenders– the timing of some of these decisions can play an important role.
To support you to understand your options and the ramifications of holding off, here is 5 reasons why you should take action now and take the leap to purchasing your new home.
How our Price Protection Guarantee works: For up to 15 months, Burbank is able to guarantee the cheapest future base price you will be paying on your home. Meaning you can rest assured that you’re getting the best deal.
2) Avoid paying interest on your land after it settles – When your land settles, you’re required to pay interest therefore the longer you wait to select your builder, the more interest you’ll be required to payOn a $350,000 land purchase with a 5% interest rate this will be costing you around $1,468 per month while nothing is being built on it. Plus place your current rent/mortgage expenses on top of that for your total cost of not acting sooner.
3) Preparation is required before a build can start (which takes time). There is a misconception about building, is that it’s not like most other things you go and buy. Planning a new build can take months and is a process that involves many stakeholders outside of just the builder. That’s why it is better to get started right away so that you aren’t waiting on things like council approval, developer covenant applications, bank approvals and more while you’re also paying interest on your land as well as your current rent or mortgage.
4) Understand all the costs related to your block and avoid any surprises – Burbank will be able to check for things that sometimes the land developer may not advise you on at the time. Things like additional costs for site conditions (slope, soil type, rock), planning requirements (bushfire, acoustic), site access and more. You don’t want to be stuck owning the ‘dud’ block in the street that may cost you thousands more to build on than something else down the road.
5) Don’t be rushed, give yourself time to make the right decisions for your future home and investment – As mentioned above once your land is settled each day you delay things is a tangible cost. So you’re better off starting earlier and taking your time deciding the exact floorplan that suits your family, all the inclusions the are on your must have list and the colour scheme you are wanting to select. Rushing these items once your land is settled leads to many people forgetting these key items when it is too late to change once the builder is started on site.
Related Articles
New building requirements that will impact all new home builds in NSW and ACT
If you are considering building new in 2023 and beyond, this is a must read!
The world of construction is ever evolving, with advancements in technology, materials, and safety practices constantly shaping the way we build our communities. Significant influencers on this journey are the guidelines and regulations that govern construction practices in Australia.
Effective October 1st, 2023 all NSW home builders will be required to adopt new measures in line with the latest guidelines. Followed by ACT home builders who will need to comply starting from the 15th of January 2024.
This article will dive into the changes that the latest building requirements brings and how these updates will impact construction in NSW and ACT.
more.QLD - What you need to know about the new National Construction Code (NCC) changes (updated)
If you are considering building new in late 2023 and beyond, this is a must read! more.
Building Your Dream Home: Avoiding Common Pitfalls + Maximising Success
Building your dream home is an exciting journey filled with endless possibilities. However, it's essential to approach this process with careful planning and consideration to avoid common pitfalls that can derail your project. In this Building Masterclass, we'll explore key strategies to help you navigate the construction process smoothly, minimise delays and unexpected costs, and maximise the success of your dream home.
more.
Unveiling the Secrets of a Flawless Home Build: Expert Tips and Tricks
Embarking on a journey to build your dream home is an exhilarating experience. To ensure a flawless home build, it's crucial to follow the right order of steps and make informed decisions along the way. In this Building Masterclass, we'll unveil expert tips and tricks that will guide you through the process, from securing the perfect mortgage to selecting the ideal block of land and securing your dream home. Get ready to unlock the secrets of a successful home build! more.
Unlocking the Power of Equity in Housing: A Guide for Homeowners
Equity is a term that often comes up in discussions about homeownership and real estate. It holds significant value and can be a powerful tool for homeowners. In this edition of our "Building Masterclass" series, we'll delve into the concept of equity in housing, providing a clear definition and exploring how you can leverage it to your advantage. more.
