Building a new home is exciting and rewarding – and you get to live in something that is exactly what you want.  However, there are many costs involved in building a new home: construction, fittings and fixtures, labour and permits.  So how do you make it more achievable? 

At Metricon we love to help Australians live where they love, so we have some great ideas on how to make this happen sooner. 

 


If you are ready to do a Knockdown Rebuild, don’t dismiss the equity that is in the existing home.  Ask yourself – how can I convert this rubble into dollars?  For example, you could sell off the bricks, floorboards, doors, tiles, slate, windows – there is an active second-hand marketplace for building materials. 

Don’t forget to look outdoors either.  Mature trees are worth a lot of money, particularly exotics such as palm trees.  There are specialists who can help you remove these, ready for transplanting.
 

If you are currently renting and are looking to build, you too can find extra ways to save money so your dream of a new home becomes reality sooner.  Look at your existing furniture  – will it work in your new home? If not, take some snaps and put it up for sale on a second-hand marketplace or a local Buy Swap and Sell site.

There is also good money in secondhand appliances, clothing and other household items.  De-cluttering before a move is good for the mind and the wallet!



Whether this is your first home or your fifth, building a new home can stretch you financially if you don’t plan ahead.  So, looking at ways to save is always good preparation.  And every dollar adds up! 

There are some simple things you can do to save money day-to-day which will help you achieve your goal of home ownership sooner:
  • Be conscious of where you shop for groceries – look for the weekly specials.
  • Pull back on designer clothing purchases – check out the secondhand and recycled stores
  • Reduce the daily coffee and lunch purchases – pack your own lunch from home and bring a coffee from home
  • Do a ring around to ensure you’re getting the best deal on your utilities – gas, electricity and phone companies are highly competitive and keen to maintain customers; ask for a better deal
  • Ensure you’re not paying bank fees for services you’re not using.
  • Start a savings plan. Open a separate account and direct a percentage of your salary straight into it so you can’t touch it.
 


Keeping focused on your savings goals is important, as is knowing what you’re really up for in terms of expenses when building your new home. 

There is plenty of research available to help you save for your dream home, including our Knockdown Re Build information page. You can also attend one of our First Time Builder information sessions hosted in Melbourne, VIC. 

Staying informed and on track with your savings will see you into the home you love sooner!