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Frequently Asked Questions

True Value Homes has all the answers to your frequently asked questions around building and buying a new home!

There are many ways to go about building a new home. It truly depends on what you want and what your budget is. That being said, building a new home by purchasing a home design from a reputable building company is a fantastic option.

Before you decide on a design that best suits your needs, visit a display home or chat to the friendly team at True Value Homes. We’d be more than happy to take the stress out of a new home build and discuss your wants and limitations. Contact us today.

Building a new house can cost anywhere from around $150,000 upwards. Our most economical home design starts at $148,900.

How much it will cost you to build a new house will depend on several factors, including the cost of the land you purchase, the home design you select, and any inclusions.

Of course, the new home marketplace is always evolving. It’s worth keeping up with the latest news and tips so that you can build a new home with confidence.

Now that you know how to build a new home and how much it is to build your own house, you might be wondering how long it takes to build a house from scratch.

Typically, homes in Australia take anywhere from four to six months to complete. Multi-storey homes may take a little longer. If you’d like a personalised timeline estimate, get in touch with the True Value Homes team.

Who qualifies as a first-time homebuyer differs in Australia from state to state. For example, someone that’s eligible for first-time buyer benefits in Brisbane may be ineligible in Melbourne.

Generally, those that qualify meet the following criteria: you must be an individual (not a company or trust), you must be a permanent resident or Australian citizen, and you mustn’t have purchased a home to live in before.

Remember that these criteria change regularly. Keep up with the latest news to ensure you don’t miss your opportunity.

Buying a new home can be overwhelming. You might be wondering what the differences are between different home ranges. You might be asking, ‘What are standard inclusions?’ and ‘How do you choose land for your house and land packages?’

The best way to get home design ranges explained in clear, simple terms is to contact a reputable building company, such as True Value Homes. Or, visit us at our display homes. Our friendly team is here to help both new homeowners and seasoned property investors understand the ins and outs of new-build houses.

Buying a new house is a significant investment that takes planning and reflection. Some essential factors to consider before buying a house include:
  • Your budget
  • Whether or not you qualify for first-time homebuyer benefits
  • Your desired location
  • Your requirements, such as how many bedrooms
  • The route you would like to take, such as buying a new house, buying an established house, or building a house from scratch

Are display model homes for sale? It’s a question we get all the time. When you walk through our contemporary, functional new display homes, it’s hard not to fall in love!

The good news is, most modern display homes do eventually go on sale. Both single and double-storey display homes are popular among first-time buyers, property investors, and everyone in between.

If you’d like to learn more about the True Value Homes currently for sale, please get in touch with our friendly team. Or, visit our display villages in West Melbourne and other Victorian suburbs, including the Thornhill Estate, the Grove Estate, and the Westbrook Estate.

Display homes are never standard because they represent the very latest in home and interior design trends. We often get inspired visitors asking, ‘Where do you get your display furniture from?’ and ‘Where do you get the artwork in your display homes?’

Modern display homes showcase new construction techniques, innovative materials, on-trend colour schemes, cutting-edge furnishings, and more, giving them an extra-special edge that captures the imagination of display village visitors.

Whether or not a display home is a good investment will depend on several factors.

First and foremost, check the quality of the property. Unlike many of our competitors, True Value Homes commits to absolute quality, from the foundations of our homes to the many inclusions we offer.

It’s also worth reviewing the location of the display home. Is it desirable? Is it up-and-coming? Is it well-connected by public transport?

If the property is of a high quality and is in a great location, it could just be your ideal investment. Just remember to seek before making any decisions.

The First Home Owners grant (FHOG) is an Australian government initiative which enables first home buyers to save money when purchasing a new build home. The rules differ in different states and territories. For example, in areas of Victoria such as West Melbourne, if you are a first time home owner buying or building a brand new home worth $750,000 or less, you can receive a grant of $10,000. In some areas of regional Victoria, this increases to $20,000.

You need to speak to a home loan specialist to check your eligibility and how much you can receive.

The amount you can borrow depends entirely on your individual circumstances and income, so this is something you need to discuss with a finance professional. If you want an approximation, it’s worth organising pre-approval before you start looking for your first buyer home.

You also need to work out how much you can afford to repay per week. This depends on the total amount of your loan and will need to be worked out with your lender.

When you’re buying your first house, you need to be aware of a number of other costs which may apply to your purchase. These can include:

  • Stamp duty (in Melbourne and more widely in Victoria, you can get concessions on this if your new home costs $600,000 or less)
  • Conveyancing and legal fees
  • Lenders Mortgage Insurance (you can avoid this if you have a deposit of 20 per cent or more of the total property price)
  • Buildings and contents insurance

You may also need to budget for any extra inclusions you want in your home.

Yes, we do! As a long-established family firm, we aim to provide beautiful homes for buyers of all budgets.

We also recognise that not every first home purchase is actually going to be a home for the buyer. Our properties are ideal for first investment property buyers, as they are modern and fitted with all the latest conveniences that tenants expect.

You can find out more about True Value Homes here, or please contact us if you’d like more information – our team will be happy to help.

Knock down rebuild homes offer a number of important benefits over moving to a new home. It means you can achieve a more modern, attractive home without having to leave the area you love. You can keep the same neighbours, and your children can stay on at the same school, while you get to live in a beautiful home which is tailored to your tastes and lifestyle.

Knock down rebuild prices vary widely depending on the home design you choose, the amount of work involved in preparing your block, and many other factors – every case is different.

However, the cost to knock down a house and rebuild is offset by a number of important factors:

  • You keep the equity in your land.
  • You avoid sellers’ fees and stamp duty.
  • You save on household bills as your new home will be more energy efficient.
  • You increase the value of your home.

It’s also worth remembering that by building a new home, you won’t need to spend out on the costly renovations that are often necessary in an older property.

There are many stages to the process. Firstly, we’ll need to assess your property to make sure it’s suitable for a knock down rebuild. This can include soil tests, whether you’re planning to knock down and rebuild on a sloping block, and finding out which permits you’ll need to apply for.

Following this, the demolition of your existing property can take place, and we can start to build your new home.

As a long-established firm, we’re highly experienced in all elements of the knock down and rebuild process in Victoria, and we’ll give you all the advice and support you need at every stage.

The first stage is to talk to us! We’re expert home builders, and we’re always happy to discuss all the options with you. Or, if you want a new home built somewhere else in Melbourne or West Melbourne, we can easily help you with that, too!

Please contact us for more information.

If you search for “lots for sale near me,” you’ll probably come across a number of terms you might not be familiar with. For example, it’s important to know the difference between titled and untitled land:

  • Titled land already has a registered owner, so you simply need to transfer the title when you purchase it.
  • Untitled land is usually still under development, so you need to wait for an ownership certificate to be issued. This usually takes 6-12 months.

Much of the land in Victoria is currently untitled, so you need to factor this into your build schedule.

You might also consider buying on an estate. A land purchase on an estate can come with guidelines relating to the appearance of all buildings on the estate – for example, only certain building materials or facades might be allowed. These guidelines are already taken into account if you choose a house and land package.

This depends on the size of the lot you buy. The average block size in Victoria is 448m², but this does vary. You’ll need to purchase a lot that can accommodate the home design you want. You can get a good idea of the size of the lot you’ll need by visiting display homes in your chosen area.

If you’re buying land to build a house, you’ll generally need a deposit worth 10 per cent of the total land price. You won’t need to pay the rest of the balance until the new land title is registered.

Don’t forget, you’ll also need to budget for surveys, the actual home building process, and all the inclusions you want in your finished home.

The first thing to do is talk to us! We have a long-standing reputation for excellence in home building, and we’ll be happy to advise you on all aspects of the process. Contact us today to achieve your dream of buying land and building a home!

Yes, we do! As a long-established family firm, we aim to provide beautiful homes for buyers of all budgets.

We also recognise that not every first home purchase is actually going to be a home for the buyer. Our properties are ideal for first investment property buyers, as they are modern and fitted with all the latest conveniences that tenants expect.

You can find out more about True Value Homes here, or please contact us if you’d like more information – our team will be happy to help.