You now have a stable job and a bright future ahead. If there is one thing your friends and family will keep pestering you about (apart from asking how soon you are getting married), though, it would be whether you already have your own home. Hopefully, you are reading this because you’ve carefully weighed your options and are now ready to take the first steps towards your first-ever home purchase.
Western Australia: A vibrant first-home purchase environment
A study from Mortgage Choice identifies Queensland and Western Australia as the two Australian states with the highest first home buyer activity. According to the study, first home buyers from these states accounted for almost 20 per cent of the loans for February this year. In contrast, borrowers from New South Wales accounted for less than 5 per cent of the month’s total.
According to a recent study by the National Australia Bank (NAB), first home buyers, even those in their 30s, are increasingly turning to their families to get on the property ladder. From 4.8 percent in 2010, 6.7 percent of first home buyers today are opting to use the NAB Family Guarantee.
In the 2015 fiscal year, 73 percent of the total number of NAB Family Guarantee users belonged to the 20 to 29 age bracket. Twenty-one per cent of the users were between 30 and 39. Even teens were in on the action, with 3 per cent of the users ages 19 and below.
The Australian dream, i.e. the privilege of owning one’s own home, remains very much alive. Indeed, REMAX Western Australia managing director Geoff Baldwin recently urged renters to take advantage of the spike in housing inventory by acquiring affordable house and land packages in Perth.
According to Propertyology, the winding down of the region’s mining industry reallocated labour towards construction, which helped pave the way for an increase in Perth’s housing supply.
Propertyology also highlighted the Perth market as having the most active first-time homebuyers in Australia. However, as far as property choices go, more first-time homebuyers are eager to build their own homes than buy existing structures. The significant bulk of leverage rests on grants and other local and federal housing programs.
So you’re thinking about building a new home? Congratulations! This must certainly be a very exciting time for you. If you already have a design in mind and you’re ready to go, it’s time to apply for some building permits and think about involving a home builder and building surveyor in your plans.
What is a building permit?
A building permit is a licence that must be obtained from a registered building surveyor to secure permission to proceed with the construction of a building project. Building permits are generally required for new buildings, renovations, demolitions, and alterations, among other things.
What are building permits for?
Building permits ensure that the construction project conforms to council or safety regulations. The enforcement of these standards is carried out to uphold public welfare, safety, and health whatever the type of building project may be.
How much do building permits cost?
Building permit costs depend on the type of project. Considerations that affect building permit cost include size, scale, and complexity of the planned construction. Price may also vary between different councils and surveyors.
Sometimes, planning permits are necessary before you can be issued a building permit. Your builder will know if you need to obtain a planning permit along with your building permit, or if you can go ahead with securing a building permit directly.
“Last month, we offered first home buyers in Perth an amazing deal: If you sign up with us for a house and land package, you need to pay only a meagre 1% deposit and you can get started! Plus, you’ll receive a whopping $10,000 bonus (on top of the First Home Owners Grant) that you can use toward your home.
Due to popular demand, we’re extending the promo this December! So until December 31, 2014, you can sign up for a house and land package and get all the perks mentioned above. Take advantage of this limited deal for Perth first home buyers direct from the established new- home builder, Buzz Homes.”
The summer heat continues as BuzzHomes extends its special offer on exciting house and land packages in Perth. Dubbed as the “Sizzling Summer Madness” promo, the special offering will now be running until the end of December 2014 and is certain to convince first-time homebuyers that it’s finally time to get their own houses.
True to its name, the promo offers hot deals that clients simply can’t ignore. Homes built under this offer will get elegant floor coverings, elevations, and window treatments from Builder’s Range, along with 450x450mm floor tiles for the living areas. BuzzHomes will also include a 31 course ceiling, stainless steel 900mm cooking appliances, a rangehood, and shower screens that will add both beauty and value to the property.
According to statistics, more Western Australians in recent history are realizing their dream of building and owning their own abode. In a real estate feature article in Perth Now, the increasing numbers can be attributed to a booming population which has been keeping builders in Perth, WA quite busy lately.
The efforts of federal, state, and local government has certainly paid off as their thoughtful policies have turned the housing sector in the right direction by increasing the supply of homes to be built, as well as by creating jobs in the building industry. Observers point out that for as long as there are homes to buy and affordable financing solutions, there is no stopping the growth here. In fact, the building industry is predicted to grow from AU$8.1 billion to AU$ 8.5 billion in the next financial year.