The past two years have seen unprecedented changes in the Australian home building industry, property market, and our lifestyles in general. As we feel a sense of normalcy beginning to return in 2022, for prospective homebuilders this should be seen as an opportunity to not only relax but also look ahead. Your new home is an investment – and by observing and understanding upcoming trends and market forces, you’ll ensure that you are prepared to make the most of it.
In saying this, we have one question for you; is this the year for building your dream home?
Continue reading to discover why it should be and how you can capitalise on this opportunity.
A golden opportunity
To set the scene, let’s first look at the home building market in Australia. With limited on-site work occurring over the past two years, you, like many other Australians, may have put off starting the planning stages of your dream home due to an inability to meet with your builder (or see your site) in person. After all, its much easier to have confidence in your project – or choose a builder, for that matter – when you can visualise and discuss it with the team responsible for bringing it to life.
With restrictions lifted, you can now visit your site, meet with your builder, and view your materials and selections in person. This has been enough to give many people the push they needed to get started – and ‘this strong level of homebuilding activity suggests that the current boom in residential construction will be sustained throughout 2022’, says HIA chief economist Tim Reardon. With skilled trades still in high demand, starting your project sooner rather than later may allow you to avoid the inevitable cost increases in the coming years.
If you’ve decided to take the plunge and build your dream home this year, these are the construction trends you should take into consideration.
Rise of the knockdown rebuild
As property prices throughout Melbourne and other Australian capital cities continue to rise, placing a premium on location is here to stay through 2022 and beyond. However, this doesn’t just apply to people who need to upgrade their home while staying in a neighbourhood they love. More than ever, home builders are purchasing properties in desirable locations with the intention of demolishing and starting afresh with a blank canvas – an idea that was far less conceivable just a couple of years ago.
If you’re searching for the perfect spot in Melbourne’s inner suburbs to build your dream home, consulting a builder that specialises in knockdown rebuilds should be your first step. They’ll be able to assess the compatibility of your home design and chosen block, while managing the paperwork and approvals associated with the demolition process.
Consider why you’re asking for a square metre rate
At this point, it’s important to consider why you’re asking for a square metre rate in the first place. Many clients believe that having a builder provide a ballpark estimate, will help inform their budget or give them a range to work within.
But often this method doesn’t work, especially if the builder hasn’t taken the time to find out what your wants and needs are – for example, the type of house, fixtures, fittings and site conditions. A m2 estimate is unlikely to be anywhere close to accurate.
Building a new home is a huge commitment – in fact, many would say it’s the biggest investment of your life, so you want to ensure that you do everything possible to ensure you can afford your dream home before you get started.
Bigger blocks and houses
If there’s one thing the pandemic taught us, its that having the space required to live comfortably in our own homes is invaluable. Your dream home in 2022 should also be a home that is equipped to meet your needs in 2032 – and extra space never goes astray. Finding a block of land that caters to not only a spacious interior, but also allows for a functional and expansive outdoor space, will be at the top of many homebuilder’s lists this year.
Custom is king
The past two years have sparked a new set of demands for the ideal home. Spacious both inside and out, equipped with multi-functional spaces, and connected to the outdoors – these are traits that can only be achieved by a custom built approach. Whether you want a bespoke butler’s pantry for entertaining, granite benchtops, or a home office, building a home that reflects your personality and meets your unique needs is a process you should have full creative control over.
At Ramsay Builders, we firmly believe that now is the time for you to bring your dream home to life.
If you’re looking for an experienced custom home builder to help get your project underway, book a free consultation with our director Brett Ramsay today!