If you are about to retire and sell the family home, with the intention of building your dream home in the sun, there is a lot to consider. This is a rare opportunity to actually design your living space, and with that in mind, here are a few tips to take on board when designing your dream home.
- Sourcing a Builder – Ideally, you want a builder who has extensive experience in building to order, and such a company would offer a comprehensive service from the initial design to the handover. One such custom home builder in south western Sydney offers a complete design and build service, and they will involve you every step of the way.
- Think Smart – Building a home in 2020 simply must incorporate solar power, and for a small investment, you can install a smart home system that will allow you to control every aspect of your living space. The NSW government will offer homeowners a grant if they opt for clean, renewable energy from an approved solar power system installer, and it is a nice feeling not to be dependent on the energy corporations, as you will not require connecting to the national grid.
- Composite Materials – By incorporating composite materials, you are adding insulation, which will save you energy, plus composites are maintenance free, which is another benefit. Talk to the builder about composites and eco-friendly options, which will pay dividends in the long run, and you might also save some money.
- Think of the Future – If, for example, there is a possibility that you might want to extend in the future, you can make provisions for this in the original design, which might involve preparing a stand-alone area for a modular buildingat some point in the future, and you can lay the utilities now.
- Crunch the Numbers – Of course, there are many costs when building a property, with the land purchase and the cost of construction, which would have to be paid in instalments to the builder. You will also have some legal costs and may have to pay tax as well as stamp duty, while also factor in furnishing and the removal process.
If you have sold the family home, the chances are you won’t need a home loan to build your retirement home, but if you do need a mortgage, this should be the first thing you do.