Getting a Home Loan in Australia if you're living overs...
29 Nov 2023
On most renovation TV shows, you often see builders complete an entire home in the matter of a couple weeks or a short few months. And although this may seem doable, in the real world, this just isn’t the case.
If you’ve ever thought about building your own house, you may have wondered how long the entire process takes from start to finish. To give you an idea, it generally takes four months to a year to build a brand new house depending on a number of different circumstances.
Below are the average timelines you can expect to build a house in different scenarios.
If you’re looking at a house and land package, you can expect the build to be complete within six to twelve months from purchasing with 5 key stages of construction.
As house and land packages generally offer only a handful of designs to choose from, it means homes are built quicker. Plus, most new housing estates are constructed by “volume builders” who are experienced in working on multiple homes at the same time e.g. Ausbuild.
However, if revisions were made, especially after materials had been ordered and construction had commenced, this could delay the completion time. For instance, if you decided to change your cabinets, you could see a delay of up to eight weeks as the components would need to be measured, ordered, and assembled once again.
There are a lot of items to check off the to-do list before a house can be built on a vacant block of land, all of which take time.
Once all of these aspects are resolved, it should take approximately six to twelve months to complete a standard home while more complex houses can take over a year to build.
For a knockdown and rebuild, the general wait time is around eight to 12 months. If the house is subject to planning approval, this can extend the time considerably. It’s important to note that council approval can take about three to four months when demolishing an existing home and replacing it with a new one.
Once you get the green light, utilities such as power, water, and gas will have to be disconnected before demolition can start. Demolishing the existing property can take up to five days depending on the weather, access issues, asbestos, and removing the debris.
While building a house can be a fun adventure, it may not always be smooth sailing. If your estimated finish date is six to twelve months down the track, it’s always best to be prepared that your new home may be delivered a little later than expected due to a number of different factors.
While your builder can suggest a standard number of months for completion, you must be open to changes and accept delays if they do arise.
If you’re ready to make your home construction dreams a reality, check out some of our construction loans, or book an appointment with one of our friendly lending specialists to find out your borrowing power.
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