TOP TIPS - New Second Home - Sunday Times – 02/08/09
By Anthony Kinder, Managing Director, Wilson & Hart home builders
The surge of activity in the first home buyer market is expected to lead to more families being able to upgrade to new second family homes. If you are considering building a larger family home, you should take into account the following issues.
- The location should be the key. The location has a lot to do with budget, so with the proceeds from selling your first home being your deposit, it’s important to understand what your income & deposit will allow you to buy.
- Consider how long you are likely to live in this home. Your second home could well be the home in which you raise a family and therefore the location in terms of schools & transport is important.
- If family is a possibility while living in the home, you also need to think about how many bedrooms for the children, separate areas for the parents like a study and retreat. If the children are already teenagers, where can they relax with their friends? Also, in a few years they will have cars, where are they going to park them?
- In your second home, space is likely to be more important but you should also consider the quality of the fittings. Kitchen & Bathroom fixtures & fittings like benchtops can vary a lot in price but they also say a lot about the quality and style of the home.
- If you can’t afford everything you want, be sure to keep the items that can’t be done later easily. For example, keep the extra bedroom on your plan and choose carpet throughout rather than a timber floor. You can take up the carpet later and lay timber when you can afford it and it’s a lot easier than adding a bedroom or bathroom later.
- When considering the fitout of the new home, check for the precise details of the package being offered by the builder; for example is the brochure picture of the home the same as how yours will look or is the elevation optional? Check the material used in the benchtops, quality of the appliances and quality of the cupboards. These minor details can all add value to the home when you decide to sell.
- With all new homes, it is worthwhile investing extra dollars in the façade of the home. The street appeal of the property will play a major role in the re-sale value of the property and is therefore better spent than perhaps a spa bath that may never get used.
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