Owning a Property in Australia by Sarah Smith
Buying and building guide.
Australia, you should know it’s one of the best places to settle and enjoy the fantastic scenery that it has. You may be new to the country, and you are wondering where to start. You can also be a resident, and you wish to own a property in Australia. Paying for rent can be stressful at times, so you can choose to buy or build your own home. Also, some want a bigger house to raise their kids. Here is a guide to help you start.
Guide to Buy Property in Australia
If you are a foreigner, you need to know that you do not have the automatic right to buy property. However, if you are married to an Australian national, you can buy the property with the help of your spouse.
Also, if you have a permanent resident visa, you will need to apply to the Foreign Investment Review Board (FIRB). It will take up to 40 days to approve your application. Hiring someone to help you in the process of buying a house is very helpful. Just remember you should find a local company, for example, if you are looking to buy a house in Brisbane, you should look to hire buyers advocate in Brisbane if you want a property in that area. They will help you through any challenges you may face.
Once everything is settled, you are legally safe to buy property. You can check out any house or land that is up for sale. Get an attorney to help you know which is legit and which advertisement is fake. You will choose the best seller and exchange the contracts. Settle the payments, and taxes then the house will be officially yours.
Guide to Build Property in Australia
The following are some of the steps that will guide you in building a property in Australia.
1. Choose a Land
You should find land for those starting from scratch and not building a home from an existing block. You need to build the foundation of the house on good land. It is best to hire an expert to analyze the land before you start building. Also, you need to know if the land is legal to avoid building then end up in trouble later.
2. Choose a Contractor or Builder
You can either choose to hire a contractor to take over or to employ a builder. Ensure you select the right builder for your project to avoid living in a wrecked house. Not all builders are qualified or experienced enough. You need a construction lawyer to help you get a licensed builder who will not disappoint you. Ensure the contract they provide covers everything. You should also agree on the timeline for the completion of eth project.
3. Chose a Home Design
First of all, you need to determine the design of the house you want to live in. You can also go through the land and house packages so you can select the best option. You can either choose to custom-build property, DIY kit home, or house project. Once you have a good contractor, share with them the home design that you wish to have.
4. Monitor the Building
Not all builders are to be trusted. Therefore, you need to be there to monitor as it is being built. Also, some steal the materials. That is why it is essential to stay on the ground until they complete building the house.
Also, it would be best if you inspected so they can build precisely how the design should be. If you don’t want to manage the contraction, you can hire a building consultant to monitor the construction on your behalf. Additionally, you need to be on the ground to record any details. You also need to be there to pay for any additional materials.
5. Complete the Handover
After the house has been completed, give it a week for any other finishing practices needed. Go through the construction and the receipts so you can confirm if the builders did a good job. Pay for any outstanding bills and suggest any other corrections.
Wait until the builder gives you authority that it is complete and safe to enter. Avoid living in a house without the builder’s approval because you may end up putting your life in danger.
In Conclusion
Australia is one of the best places to invest in property. You can choose to own property for the sake of business or for you to live in. Either way, you need to be very careful and sure about the choices you are making. Use the above guide to help in settling on the best property buy or build.