There are a lot of house and land packages in the western suburbs of Melbourne that seem like a good one. So you may be wondering which one is the right choice and how exactly you can pick the best deal for your future home. Before signing any papers and settling timetables and finances, make sure you ask these three crucial questions that can help you make your decision.
Do you have fixed price costs, and what do they include?
A lot of times, purchasing a house-and-land deal doesn’t mean your expense end there. Different adjustments inevitably get made during the process of setting up the home, and you should clarify what changes can be made that are still within the agreement or contract you signed.
Fixed site costs can help you know the exact amount that you are limited to use. It would be wise to learn what inclusions these have in terms of building or removal so that you can dispute any charges made and comfortably know the bounds within which you can freely opt for construction adjustments and the like. It’s easier to go for a deal that has a fixed price, especially if you don’t know what suddenly may crop up and require you to make additional reworkings that could cost you an unexpected sum.
How long is your structural guarantee?
This question is one of the most important things you should know about right off the bat, before building even starts. It’s a protective insurance policy that assures you that your home will be constructed well and any structural defects will be fixed by the builders that handled your property.
Any package you get should have one, and knowing how long they cover you can help you feel more safeguarded with your investment. This is not just the protection of your newly acquired asset but also a significant way to assess if this will be a reliable and safe home for you to live in for years to come. Different developers offer various periods of coverage, but it would be wise to opt for one ready for the long run, with guarantees upwards of ten years.
Is there a property covenant?
This one is a little more complicated, but you should still be aware of any restrictions set in place that will be passed on to you once you legally become the owner of the land. This will usually be included in the deed of sale and will inform you what decisions you can make about your property in the future.
It should be noted that this is legally binding, so knowing its details well before shelling out any money is a must. After all, you wouldn’t want to unknowingly go against any regulations set in place with the idea that you can do anything within the bounds of your own property.
Once you’ve got all the information you need by asking these big questions, you can make a better decision to find the place that suits your preferences best.
