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Home & Land Package Buyers Guide

Deciding to buy a home is an enormous and life changing decision.

This guide is designed to give you an idea of the processes involved and will vary slightly from builder to builder.

Once you have established a budget & obtained a written preapproval from your lender you are ready to go

Select your House & Land Package

This will consist of 2 separate contracts - one for the land and one for the house, which go together to form a package.
TIMING ITEM CLIENT REQUIREMENTS
 Week 1

Builder to prepare formal quotation

(some will charge a fee which is included in quoted price)

 Request Quotation
Week 2 Pay deposit on land and sign a contract - see Land Buyers Purchase Procedure Guide Pay 0.25% deposit on land & sign contract. Make appointment with your Legal Representative for Land purchase
Week 2 -3 Pay deposit (or balance deposit) to builder and sign your quotation & pay balance of Land deposit Obtain formal loan approval from lender (2-3 weeks)
Week 4 Builder proceeds to draw plans for Council & Statutory Authorities  

Week 5 - 6

 Builder has Client sign plans and select colours with Builders Colour Consultant. Settle Land Purchase.

Sign Plans, Complete Colour Selection & settle land purchase

Week 7 - 12

 Builder lodges plans for Council & Statutory Approvals and approvals obtained. Client to provide proof of ownership of Land to builder
Week 10 - 12 Builder prepares Building Agreement for execution by Client Client signs building agreement & provides Authority from bank to commence construction

Week 13

 Builder completes final construction plans and places orders with suppliers  
Week 14

Construction Starts - 6 - 9 months until completion

(This will vary with weather conditions & house size)

  

Approx Construction Payment Schedule*
  Initial Deposit $2,000 - $4,000  
  Balance of deposit 5%  
  Slab Complete 20% - 25%  
  Frame Complete 25% - 30%  
  Brickwork & Roof complete (Lockup) 20%  
  Internal Linings 15% - 20%  
  Completion & Handover 5% - 10%  
  * Varies from builder to builder  
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