Top 5 planning steps to take if building in 2025

16th December 2024

Finance & Budgeting Pre-Construction

Planning to build a home in 2025? This article outlines the top five steps to prepare, from securing finance to taking action, ensuring a smooth and informed home-building journey.

Top 5 Planning Steps to Take If Building in 2025

Thinking about building a new home in 2025? The planning process starts now! While 2024 might not have been the right time for you, there are crucial steps you can take to prepare yourself for a smooth and successful home-building journey next year. In this episode of the Home Building Hub podcast, hosts Colin Bischof and Darren Brennan share their expert insights on the top five planning steps every home buyer should take.

1. Educate Yourself – Start with the Home Building Hub Podcast

• Knowledge is power! Take advantage of the wealth of free content available on the Home Building Hub podcast.
• With over 80 episodes covering everything from financing to building trends, listening during the holiday downtime can help you gain clarity before you take the next step.
• Whether you're driving, relaxing, or doing chores, pop in your headphones and start learning about the process now.

2. Speak to a Broker Before Anything Else

• Before you visit display homes or engage with builders, get your finance sorted.
• A mortgage broker will help determine your borrowing capacity so you don’t waste time looking at homes outside your budget.
• They can also guide you on government incentives and grants that may be available.
• If you need recommendations, the Home Building Hub team can connect you with trusted brokers.

3. Shift Your Perception to Reality

• The market has changed – home prices and interest rates have affected affordability.
• Be realistic about what you can afford, whether it's a smaller house or a different location.
• If you're buying as an investment, remember that entering the market sooner can help you build equity for future purchases.

4. Visit Display Homes and Then Seek Realistic Quotes

• Enjoy the display home visits – take in the trends, designs, and possibilities.
• But after that, get real by engaging with two or three builders who match your budget.
• Share your brief: budget, preferred location, and must-have features.
• Builders are there to provide accurate quotes and options, saving you time and effort.
• Patience is key – this step might take weeks, but it ensures you make informed decisions.

5. Take Action – Don't Wait for the 'Perfect' Moment

• The biggest mistake buyers make? Procrastination!
• Many people hold off, hoping for interest rate drops or better deals, only to find that prices rise and opportunities disappear.
• Builders and developers won’t keep today’s deals on the table once demand increases.
• Trust the process, follow the steps, and when you find the right opportunity within your budget – act on it!

Key Takeaways

• Educate yourself with the Home Building Hub podcast.
• Confirm finance capacity before speaking to builders.
• Adjust expectations to match market realities.
• Research display homes, then get accurate quotes.
• Make decisions with confidence – hesitation can cost you money.

FAQ

Should I wait for interest rates to drop before buying?

Not necessarily. By the time rates drop, builders and developers often increase prices due to higher demand. Taking action earlier could save you money.

How do I know how much I can borrow?

A mortgage broker can assess your finances, explain your borrowing power, and help you explore government incentives.

How many builders should I speak to?

Engage with two to three builders to compare quotes and packages that fit your budget and requirements.

Is now a good time to build?

If you find a home and land package that fits your needs and budget, it’s a great time to start the journey. Delaying may lead to missed opportunities or price increases.

Listen to the Full Episode

🎧 Listen now: Top 5 Planning Steps to Take If Building in 2025

About the Home Building Hub Podcast

The Home Building Hub podcast, hosted by industry experts Colin Bischof and Darren Brennan, is Australia’s premier resource for new home buyers. With weekly episodes featuring special guests, the podcast provides objective, high-quality insights into the home building process—completely free and without sales pitches. From understanding financing options to navigating the complexities of building a new home, each episode is packed with actionable advice and tips.

Explore more episodes at www.homebuildinghub.com.au and join our growing community of informed home buyers.

Disclaimer

Whilst we’re all about providing value to you, this article should not be considered as legal or financial advice. It contains general information only and is based on the content discussed during the podcast episode. This information is relevant to the episode’s release date and may not be applicable at the time of reading. Always seek independent professional advice tailored to your personal situation before making any legal or financial decisions.