Guide to buying land

Everything you need to know

Follow our 8 simple steps and you will be throwing a house-warming party before you know it!

Building your first home is an exciting move, but it can also be stressful.

If you have never been down this road before we understand that buying and building your dream home could feel a little confusing at first, especially if you ‘re a first-timer.

If you are considering buying a block of land and building a new home in Western Australia, follow our 8-step guideline and you will be celebrating living in your new home before you know it!

The Buyers Process

STEP 1 - Research
A large part of the early stages of building your new home is deciding upon the area you want to live in and what type of house you would like to build. Carefully choosing your block of land is easily as important as deciding about the home you put on it. Then working out your budget will help you keep it real and prevent disappointment or cost blow outs. It is a good idea to speak to a bank or finance broker to have a clear understanding about how much you can borrow and arrange pre-approved finance to make your buying process easy when you do find the right place to build.
STEP 2: The Contract - signing on the dotted line
The contract signing process is important but quite easy as there are only four main stages you will need to consider: a) signing the contract to purchase land with the land developer; b) contract acceptance by the developer (at this point you usually have approximately 7 weeks to gain unconditional approval); c) appointment of a Settlement Agent (they organise the transfer of the title into your name and will guide you through the purchase process); and d) signing the contract to purchase a house with your chosen home builder.
STEP 3: Finance – Apply to your bank
When you apply to your bank for a housing loan, make sure you already have all of the required documentation to prove your identity, income, assets and liabilities and past tax returns. This will make it easier for the bank to arrange your finance and also ask if you qualify for the First Home Owners Grant. You should then receive unconditional approval from your bank in a couple of weeks and loan documents will arrive for signing. It is your settlement agent’s job to organise the transfer of land documents for you to sign.
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