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If you took out a standard loan, your monthly repayments will depend on the loan amount, loan term and interest rate. However, if it’s a construction loan, you will not get the amount you borrowed in full. Instead, the lender will make progress payments based on the building stages you’re in. Although it depends on the lender, the stages are usually as follows:
Payments are made at the stages mentioned above and will gradually increase as you progress. Construction finance is typically interest-only until construction is finished.
Your monthly repayments will depend on the amount you borrowed, the interest and its interest type (variable or fixed), the loan term, and repayment frequency. Whether you choose to pay for the principal or interest only will also affect how much your monthly repayments will be.
Before you learn your borrowing capacity or the amount you can borrow, make sure that you have looked into your income and expenses. That way, you have a good idea about how much you can comfortably repay monthly or fortnightly. Remember that you will not only pay the amount you borrowed but also the interest, which can increase (or decrease) if it is a variable-rate loan.
Lenders will assess your borrowing capacity the same way, which is by looking at your income and expenses, along with other debts you currently have. If you are paying for a car or credit card loans, these debts can go against how much you are allowed to borrow, plus the interest.
Note, as well, that credit card debts are treated differently, as it is the limit that is taken into account, not the balance you currently have. For example, suppose your credit card limit is $20,000. In that case, lenders will take that amount as a debt, which reduces your total borrowing capacity, even if you do not owe any money on that particular credit card.
It’s difficult and time-consuming to process all the necessary paperwork and legal documents to buy or sell a home. You have to change the name on the title deed of the property, draft a contract with the seller, and organise shire adjustment and water rates. The good news is you do not have to do any of these tasks when you have a settlement agent or conveyancer working on your behalf.
At First Home Buyers Club, we can help you find the right partner that can provide settlement assistance. That way, your land and construction settlement will go as smoothly as possible.
The process will depend on your agreement with your lender. You, the homeowner, will authorise the stage payments, which is why it is essential to talk to your broker or bank so you understand the payment process for your home.
Lenders Mortgage Insurance (LMI) is designed to protect lenders if the borrower defaults on the mortgage loan. LMI is required if you have a smaller deposit or a higher loan-to-value ratio when you purchase a property. If the loan amount is higher than the appraised value of the property, typically above 80%, you will need to pay for LMI.
During the final payment at the Practical Completion construction stage, the bank or lender will require an appraisal performed by a third party before releasing the last payment to us.
In general, you have to wait 10 working days before receiving the final payment, so be sure you have authorised it and have your Certificate of Currency or building insurance ready to be delivered to your bank. That way, you can avoid delays and have your keys promptly.
Also known as property transfer tax or transfer duty, stamp duty is a tax that the government imposes on transactions, such as buying a property, involving the transfer of ownership. There are a few exceptions, however. Please contact us so we can guide you.
Construction finance is different from standard home loans. The most known distinction is about the land payment and the progress payments made to the builder. No regular home loan disburses funds to the borrower based on the construction stages. But this is only a surface-level description, which is why it makes sense to know the differences to be confident in the loan you’re applying for.
Since only 8% of loans in Australia are for construction, it is best to talk to a construction finance specialist to help you out. Give us a call to learn how we can assist you here.
You will make payments based on the stages of construction you are in. These stages are:
Each progress payment is typically required 10 working days, either from the completion of a construction stage or the invoice date itself, whichever is later. Make sure you talk to your lender, as lenders have variations in releasing progress payments to builders.
In order to qualify, you must be a first home buyer, which means you have never bought or owned a home prior to the application. Additionally, you must:
As we have a schedule for creating and issuing stage payment invoices, you may receive yours earlier than a key construction stage. Please remember that all progress payments are due 10 working days from the completion of the phase, as stated in your invoice or the date of the invoice itself. Follow the later date for guidance. We do not require you to make any payments before the completion of any stage.
Working drawings, also called construction or technical drawings, contain precise and detailed drawings of instructions for construction. A set typically includes the floor, site, and electrical plans, as well as internal room layouts, plumbing and mechanical details, and more.
The answer is no, as working drawings need specific site information, including topography, elevation, and boundary lines – all of which should be as accurate as possible. Therefore, without a titled block of land, it is not only tricky to proceed but also not allowed by law.
However, here at First Home Buyers Club, we will complete anything we can during pre-construction. This prevents more delays as soon as the titles are issued.
Although not a legal requirement in most cases, developer approval is valuable as developers establish guidelines dictating the design and aesthetics of the property. With these guidelines, you can be sure your home will have a consistent look and feel. Its property value will be protected, and overall harmony will be guaranteed and preserved.
The pre-construction phase should first be completed before commencing construction. This includes designing and planning for the home’s structural elements, room configurations, layouts, etc. Financing should also be secured first before proceeding with site selection and preparation.
All permits and approvals will then be obtained prior to hiring the builders and other professionals. Please give us a call for a complete outline of the pre-construction process.
You must first sign the Housing Industry Association (HIA) building contract before you can make internal and colour selections. From here, you can pre-select the products and colours to include in your home. This is typically done during the interior design or pre-construction phase, where you will work with a designer or an architect to help you create the best layout and flow of your new home.
You will receive a call from a consultant so you can schedule the most convenient time for you to read and sign the documents. Typically, this occurs after the contract and preliminary plans and addenda have been prepared. In this stage, the design is finalised with agreed-upon specifications and a detailed quote.
Cracks are generally due to concrete shrinkage, which occurs when the material dries. Because of moisture loss, concrete shrinks and reduces in volume, which then causes the slab to undergo tensile stress. Cracks are the result of these stresses.
Our engineers will design a reinforcement mesh, which will be placed in the slab to prevent further cracks. There is no genuine concern with these cracks, as they are more of an aesthetic problem and therefore have no effect on your home’s structural integrity.
The garage hardstand is not considered a part of the slab, which is why it is not poured during the early construction stages. Additionally, hardstands should be poured 100mm lower than the slab, an important requirement in reducing flood risk. Don’t worry; the garage hardstand will be poured in the later phase.
This is intentional, as we use face bricks with one external face specifically designed to be visible or exposed. These face bricks’ primary purpose is to provide a more attractive exterior finish. On the other hand, the bricks inside the garage have the other face visible as part of a standard practice. That’s because the garage will have a more utilitarian or industrial look.
Different factors, including organic growth and other environmental conditions, cause brick stains. Yellow and green stains are called vanadium stains found in light-coloured bricks caused by vanadium salts from excess water migrating through the bricks. They are a thin film that eventually disappears and does not cause any damage.
If you notice that the internal wall brick joints are not completely filled, it is in line with the bricklaying standards. And as per manufacturer recommendations, vertical joints should not be mortar filled, specifically if they are less than 13mm wide.
Steel beams are placed on a brick (alternatively a timber offcut) to ensure the beams will not affect the ceiling joints. These bricks are called packers, which are non-compressible materials that can take the structural beam load, effectively transferring it to the load-bearing wall. For more strength, multilateral roof members or hangers hold the structural beam in place to prevent lateral movement.
Of course! We make sure everything is ready and without any damage, including your roof, before handover.
Unfortunately, we do not permit any work or modification until construction is complete. That way, progress is continuous and without issues. Restricting all types of work outside the construction plan also prevents violations of safety and insurance constraints.
There is a process that we need to adhere to, and that includes the handing of keys, which is only done at the completion of the construction. Once the last stage is finished and we have received the final payment, you can collect your keys.
Note that your bank may require a valuation, which is often a requirement at the Practical Completion stage. Therefore, you have to check that your final payment is authorised and your Certificate of Currency is ready to be submitted to your bank to prevent any key handover delays.
In its simplest form, Practical Completion is a construction stage when contract inclusions have all been completed. If there are minor defects in your home, they do not have any effect on this stage, and therefore, your home is deemed practically complete.
There are three stages to ensure termites are eradicated from your new home:
You will receive a certificate or warranty, providing you with documentation of all treatments performed during the construction process.
Before you receive your keys, a site manager will let you explore your partially completed home. You can see its room-by-room progress, along with the appliances and other products that have been installed. The site manager will also provide usage, maintenance, and repair instructions.
You can have external contractors come in and take measurements during the lock-up and home presentation stages. We recommend they complete their tasks within the provided timeframe to avoid disrupting the construction progress.
A site manager will call you once your slab is poured. Typically, however, you will only have to meet the site manager during the progress meeting and home presentation. That’s because your primary point of contact is a customer experience coordinator, not the site manager.
We offer turnkey packages to make homeownership as easy as can be. This term refers to a property or development with all the essentials included, such as design and construction, finishes and fixtures, and utilities. There’s no need for further work. All you have to do is move in.
It’s important to note that not all home designs are available in turnkey packages, but they can be converted into one. And, of course, there is a difference in the total cost, which can be around $10,000 to $15,000, compared to a typical house and land package.
We currently have a lot of options available, which can be the ideal home you are searching for. However, if you cannot find the best match for you, that’s not a problem with First Home Buyers Club. We are here to help make your dream home a reality.
It’s a simple process if you are interested. Let us get to know you better, especially the home of your dreams, budget, non-negotiables, and everything else you want. We will then get to work, looking for the best match. After several days of research, we will have our house and land expert contact you with a suitable package that covers all the bases. We make sure that you have everything down to the tiniest bit of detail, including specifications and elevations.
Once we have the address that fits you, your consultant will get in touch with a land developer to make sure no one can have the block but you. Best of all, it will be available for you at a price that’s hard to say no to.
The First Home Owners Grant (FHOG) gives eligible applicants a $10,000 boost to fund their first home. You may be qualified for the grant, provided that the house and land package you intend to purchase is less than $750,000. Additionally, you should meet the following requirements:
It is also required that you stay in that new home, which should be your primary residence, for at least six months within a year of completing the grant transaction.
It depends on a variety of factors. The good news is that most of Perth’s new estates are valued below $300,000, which means you do not have to pay stamp duty. If the value is higher than the mentioned amount, you might be liable for stamp duty. The exact amount is variable, so you may want to talk to our house and land expert to get a full breakdown of all the costs involved, including stamp duty.
Although it is possible that you may have to pay stamp duty for land, you do not have to pay for the home itself.
Our prices are fixed but hard to beat. We have a team that continuously works hard to ensure you get the best possible price for your house and land package. We do all the negotiating for you, so you never have to.
In most cases, a house and land package is more cost-effective than purchasing an established home. It’s usually cheaper than buying land and building a house separately. The biggest reason why a house and land package can help you save money is that you know the exact cost upfront. You can then compare and contrast your available choices and decide whether the package suits your budget.
Additionally, your consultant will do all the haggling for you, ensuring you get an attractive deal for the house AND the land. You not only save money but also time and energy. Also, buying a package does not require you to pay stamp duty on the house. The fee only applies to vacant land, which can certainly save you some cash.
The process is quite straightforward. You have a builder and a developer coming together to provide you with a house and land bundle. You pick from pre-designed house plans, which are situated in specific land developments.
Once you have found the right package, you can then enter a contract with us so you can proceed to purchase that block of land within the development. If the land is titled, we can go ahead with the construction when the house design and your customisations are finalised.
Our house and land packages come with the block and a home design, which will be constructed in an ideal suburb to give you a superb pairing that you will eventually call your property. Choosing a home from First Home Buyers Club will have these standard features and facilities:
Some home designs have unique features, so be sure to learn more about what’s on the menu before you make the final decision. Leave your enquiries, and we will help you find the best house and land package that matches your needs, budget, and preferences.
A house and land package lets you purchase a block of land where you can construct your dream house. It is an incredible deal that includes the perfect home design, which your builder will put together to bring to life.
The packages are generally pre-bundled and come with a fixed price. However, if you cannot seem to find the home design you want, you can always contact us, and we can create one from scratch that fits your lifestyle.
Some costs, such as soil and coastal conditions and bushfire ratings, are difficult to put an exact number to from the get-go. Your additional expenses can vary depending on certain factors, including the precise location of your new home. Your consultant can help you determine other costs that you should consider before the building process commences.
Of course not! Talking to us does not mean you are saying “yes” to our proposal. We are sure you would like to hear more about our offerings and then figure out whether we are right for you. We put great value in your future home, just as you would. After all, it is one of the most – if not the most – significant investments you will ever make in your entire life.
Therefore, you take the reins from beginning to end. That includes learning about your desires and requirements in terms of your new home. We communicate with you to answer your questions and help turn your ideas into reality.
The prices that you see on our website include the following:
If you need additional items, they will be quoted individually. Some may be selected through a different package. Please note that the house size, material costs, and trade expenses can increase the exact cost of your new home.
You will not be charged for whether you want a pre-designed or custom-designed home. That includes any changes you may want to perform to the original design. However, please note that our floor plan layouts and designs belong to us. Therefore, you cannot ask another builder to build them for you as part of copyright laws.
Of course, you can! It’s your home we are building, after all! If you like a design but would like a few modifications here and there, all you have to do is ask.
Yes, we have what you are searching for. It’s called a turnkey package, which lets you move into the home and become its resident almost immediately. To learn more if it fits your requirements, along with the inclusions, please feel free to give our friendly team a call.
The keys are the width and depth of the block. Therefore, if it says that the design is 17m, the block should be at least 17m wide.
To help you out here, we can give you the frontage measurements of the block, if they are not already listed, including the required dimensions for the specific home design you are eyeing for.
As for the depth, it can be quite tricky. You can talk to the land developer for more guidance. Your new homes consultant can also give you some information here. If the design you want for your home does not fit the block of land, your consultant will suggest other designs or draw one from scratch.
No, it is not a requirement. However, WA builders prefer double-brick construction because it offers many advantages, including excellent stability and acoustics. Also, Perth mostly has flat and sandy blocks, making double brick a cost-effective construction technique.
At First Home Buyers Club, we make sure that you are in control of your new home. That includes the suitable construction method that suits your taste, budget, and needs. Your builder will give you options, including brick veneer and fully framed, not just double brick. You are in the driver’s seat, regardless of your choice.
It’s important to talk to your new homes consultant and builder before construction begins. That way, we can add the necessary support to your future pool. More often than not, dropped footings are the most significant considerations, which can take care of the pool size, how far it is from the house, soil type requirement and other similar factors.
Absolutely! While we may have other commitments, we understand that some clients lead busy lives. If your only free time is during the weekends or after hours, please pick the most convenient time for you, and we will gladly accept the appointment.
Unfortunately, we cannot assist you on this matter. But here’s the good news. We have access to professional mortgage brokers who can secure financing for your new home. Your broker will not only apply for finance on your behalf but also help you figure out the best lending option that suits your lifestyle.
Sure! Custom designs excite and challenge our design team, especially those made from scratch. One requirement, though, is that it should be a single-storey design. Also, you need to willingly wait up to 14 days (or more, depending on the complexity of the floor plan). But here’s the kicker: the service is totally free!
As of now, no. And that’s because we’re great at single-storey homes. Another benefit is that you can choose the construction method with no additional fees or charges. That’s one thing double-storey builders find challenging to give.
No, we have no running promotions and will probably never do. We prefer to provide you with transparency when it comes to our prices so you see what you get and get what you expect. There are no misleading ads and no too-good-to-be-true claims.
We offer you the best possible price that’s not only hard to beat but hard to match, as well. Plus, you get a lifetime structural warranty from us, which is more than a few dollars worth of promotion.
In most cases, yes. Your consultant will inform you whether you need planning or development approval and when you will get it. If you do need it, rest assured that we will do the legwork for you, so you do not have to be concerned with the onerous paperwork that comes with it.
Standard specification is predetermined where the features, materials, and finishes are fixed as outlined by the developer or builder. On the other hand, display specification refers to the upgraded materials and others which interested buyers see in the display home.
At First Home Buyers Club, we do not have many display homes, but we do have a few specifications, including a comprehensive base specification. It includes a locally-made kitchen, soft-close drawers, and full flooring and window treatment package, among many other features.
Yes, you can. However, we require that you discuss your preference with us first. As much as possible, we want to supply and install all the products for you, which enables us to save time and meet deadlines. If there are a few items you do not like from our range, you can either tell us to replace them or remove them so you can add your own later after the handover.
There is no short and specific answer to this question. You have to make numerous considerations to find the perfect block of land, including the location, size and shape, terrain and topography, and orientation and views.
Perhaps you want to be near your family, best friend, or favourite hangout. As a recommendation, you should pick a block that’s about 10km from your ideal location. You can look at the prices based on the block sizes in square metres. Don’t forget to consider possible bushfire incidents, noise, and the location’s proximity to your job and loved ones.
If you want a more detailed suggestion, talk to your new homes consultant, who can find and research the available areas that you may be interested in.
When a lot is “untitled,” it is on presale. It means the land has yet to be fully developed and, therefore, cannot be accessed at the moment. The location is still in the process of development as there are no good roads and connections, even lacking footpaths. But that does not mean they will remain that way forever. Although it may take a while, these lots will be developed, and we can start building on them.
If the land is untitled, we cannot build there even if your house design and plan are ready. To proceed, it should be a titled block of land, especially if you are not willing to wait several months to begin the construction.
There is no energy rating requirement, but you can take additional steps to make your home friendlier to the environment. At First Home Buyers Club, we build 6-star energy homes at minimum to comply with the Building Code of Australia (BCA). That said, we can elevate your home to seven or eight stars. All you have to do is speak to us prior to finalisation of the project. That way, we can compute the extra costs for the materials, labour, and other expenses.
New land estates in Perth are typically under design guidelines that all builders should adhere to. They exist to maintain a distinct look in that location. So, before you decide to purchase, make sure that you are aware of the design guidelines in place. That way, you stick to the rules while getting your desired aesthetic.
It is possible that you need a boundary wall, especially if you are building on a narrow block. This wall adjoins your property to your neighbours and is built one brick course higher in comparison to the external walls.
A boundary wall not only ensures that you maximise your home’s internal space but also protects you from fires that could spread to your home or your neighbours’ property.
Yes, you can turn your home design into a house and land package. Reach out to our team, and we will offer you a package with the land together with the house, which can be built in your dream location.
Sure thing! We are always ready to give you the assistance you require. We prefer the age-old approach where you talk to our talented team for guidance, especially if you are still deciding on the home design. We help you pick the style based on several factors, such as your needs and priorities, lifestyle, and future plans.
We build everywhere in Perth. That includes the inner suburbs, outer estates, popular locations, and many others! We can even construct your new home in the coastal suburb of Two Rocks to the north, the picturesque countryside of Kalamunda to the east, or Pinjarra near the Murray River to the south.
Wherever it is, if there is an available block of land, we can build there for you.
Not all our homes are turnkey. However, we offer many turnkey packages, which we know are preferred by many first home buyers in WA. They are more convenient, offering a streamlined and more time-efficient home-buying experience. No waiting for permits, approvals, and the pesky construction timeline – everything is in order. All you have to do is move in unless you wish to add more embellishments and accoutrements to enhance the appearance and ambience of your new home.
Enjoy the following standard features:
For more information, don’t hesitate to get in touch with our team.
There are several valid reasons to refinance your mortgage.
Reduce your repayments: One way to increase cash flow is by refinancing your mortgage. A new, high-quality mortgage can help you make more money by lowering your loan repayments. Refinancing for longer terms, such as a new 30-year loan, is one way.
Pay off assets: Some homeowners refinance to get cash out and use that money for home renovations, debt consolidation, or other big purchases. Payment means using the property of the home when refinancing. Be aware that repayments during refinancing will increase your debt.
Pay off your mortgage more quickly: Refinancing a short-term loan is useful if you want to pay off your home faster and reduce your total interest payments. Your monthly repayments will increase, but you’ll save thousands of dollars in interest over the life of the loan.
You should consider refinancing your mortgage if interest rates are falling, the market value of your home has increased, you want to renovate, there are better rates available, and when you’ve built up enough equity in your home.
A recent payslip to verify your income tax assessment, a letter from your employer confirming your salary, identity verification documents such as passports and driver’s licences, and complete financial and credit documentation (credit card statements, current mortgage records, bank statements, etc.) are some of the documents typically required.
The refinancing period varies depending on the financial institution and the submission period of the required documents. The entire process, from applying for a loan to agreeing to transfer the debt from the new lender to the current lender, typically takes two to four weeks.
Yes. Lenders treat refinancing as a loan application, so frequent refinancing can negatively impact your credit score. Similarly, a denied refinancing application can have a negative impact on your credit score.
There is no limit to the number of times a homeowner can refinance. However, many financial institutions require a waiting period after taking out a loan before refinancing with a new loan.
Some financial institutions require homeowners to wait at least six months after refinancing before refinancing again. Frequent refinancing can also hurt your credit rating.
Refinancing can be costly. To get your current mortgage forgiven, you might have to pay a disconnection fee. For this reason, some people avoid refinancing, such as when the fixed rate period ends. However, not all lenders will charge this fee. New financial institutions may also require payment of application and closing fees.
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From pre-approval to key handover and beyond, we’re here to provide all the support you need.
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