My wife and I live at Mulgrave in Melbourne's SE suburbs and have decided to knock down our place and build new. We are purchasing the current house from the wife's Mother, and as such will need to pay State Gov't (thieves!) Stamp Duty on the Market Value of the place (as opposed to the price we will actual pay)
At this stage we're loving the NBG Portifino 260E.
I am so green at this, I am unsure of even the right questions to ask. Whilst I understand that the NBG say they can handle "everything", I want to be sure there aren't permits, certificates, approvals etc, that will be required along the way and that will add to our costs that the NBG are not responsible for, and therefore will not tell us to get, or we will not have budgeted for.
Finance - I presume we should obviously not only assess our affordability, but secure finance before commencing anything?
We do not need a fancy mortgage product with features we will never use. What I do want is a decent Visa card with Qantas FF program attached, as this translates into a usable product for us.
So, do I put the entire process into the hands of NBG, or would that simply be wasting money?
Here's what I see as needing doing
- A Real Estate Valuation on current property for Stamp Duty (see above) - (Need some advice on making this come in as small as possible and who do I get to do it)
- Getting the official survey of the block (The Deposited Plan from Monash Council, do they still call it a Deposited Plan?)
- Finalising house plans (changes etc)
- Signing a contract with NBG
- Getting permits to demolish house and remove trees.
- Engaging a Demolition Company to clear the block and prepare the site (Need advice/recommendations here)
- Building inspections etc
- Building finished
Generally speaking, will the contracted price we enter into with NBG cover everything else with regard to the construction and us taking possession of the new house?
I can only imagine how many other things I simply have not included in my above list. Please feel free to let me know so I can plan for them.
Thanks in advance
Doonks