So you’ve decided to take the plunge and build your dream home. Congratulations! Now comes the tricky part - do you start with choosing a builder or finding a block of land? It’s a classic chicken and egg situation.
Get the land first and you’re committed to whatever limitations or opportunities it provides. Find a builder first and you’re relying on them to source a suitable block that matches your vision.
Weighing the Pros and Cons of Choosing Your Builder vs Land First
Finding your block of land first gives you flexibility and control. You can handpick the perfect location and work with a builder to design a custom home tailored to the site. The downside is good land can be hard to come by. You might face a long search and have to compromise on location or pay a premium.
Opting for an established builder first is more straightforward. They will have land options for you to choose from, so you can snap up a great site and lock in a build contract. The builder's buying power also means you may get the land at a lower cost. However, you are limited to the designs and locations the builder offers. Their house and land packages tend to be more cookie-cutter.
At the end of the day, you need to go with what matters most to you. If finding your dream location is top priority, start with the land. If a smooth build process and turnkey solution appeals more, choose your builder first. The best approach may be meeting with builders you like to explore both land and design options. That way you can make an informed choice and find the combination that suits you perfectly.
The path to your new home starts here! With the right mindset, flexibility and patience, you'll be settling into your custom palace or slice of paradise in no time.
Key Factors to Consider When Deciding Between Builder and Land
There are pros and cons to both options, so consider the following factors before making your choice.
Cost and finances
If budget is a concern (when is budget not a concern?), it may be better to find a builder first. That way you can discuss costs upfront and they can help you find affordable land that suits your needs. However, if you have your heart set on a particular area or type of land, get that sorted first. You'll have more leverage to find a builder to work within your budget.
Availability
The availability of builders and land can vary in different locations and markets. If good builders are in high demand in your area, secure one early. But if the type of land you want is hard to come by, make that your priority. Do some research on the current property market to determine what may be harder to find.
Timeline
How quickly do you want to get building? If time is of the essence, finding a builder first may speed up the process as they can help source appropriate land. However, if you're in no hurry, take your time to find the perfect block - your builder can then design a home to suit the site.
There's a lot to weigh up, but with some thought on your key needs and priorities you can decide whether to find your dream builder or perfect patch of dirt first. The good news is, with the right combination of both, you'll be well on your way to building a place you'll love calling home.
Expert Tips to Help You Make the Best Decision for Your New Home Build
Consider custom vs spec home. Do you want a custom home tailored to your needs or are you open to a spec home? Spec homes are pre-designed by builders, so the land is already included. A custom build on your own lot will require more time and money but allows you to create your dream home.
Think about the location. If location is most important, look for land first in an area you love. Then you can find a builder to suit the property. If specific home features matter more, choose a builder first based on their experience, quality, and ability to construct what you want. They may have land options they can suggest.
Factor in timelines. Purchasing land on your own typically takes 3 to 6 months. The building process can then take 6 to 18 months. Using a builder’s spec lot or land can speed up the timeline since the zoning, surveys, and other prep work are already done. A builder may also have crews ready to start construction right away.
There’s no one right answer, but with some forethought on priorities and practical considerations, you can determine whether land or builder is the best place to start building your dream home foundations. The key is finding the option that fits your needs, budget, and desired timeline.
Conclusion
Whether you go the route of choosing a reputable builder first or finding that perfect block of land, make sure you go in with realistic expectations about costs and timeframes. Building a home is a big undertaking, but by doing your research, setting a solid budget, and choosing partners you can trust, you'll be picking out tile and lighting fixtures before you know it.
Best of luck with your new home - may the permits be approved quickly and the tradies be on time! With some patience and perseverance, you'll have keys in hand to your dream home in no time.