Peter Maddock with one of his prestige homes.
Peter Maddock with one of his prestige homes. Michael Nolan

It's the right time for building, but don't rush it

BEFORE you sign a contract with a builder, there are some things you should look into first to make sure you're not rushing into anything.

According to Peter Maddock from Maddock Family Homes, now is the perfect time to look for a home, because builders aren't usually booked with a lot of work at this time of year.

This means your builders should be able to get the work done in about 10 to 12 weeks after the contract is done and the financing is completed.

However, though this is a prime time to get started, Mr Maddock also said people building properties shouldn't rush into hiring builders without some structure and standards.

Mr Maddock said once you buy a block of land, take the time to get a quote for what you want, and look into financing before you get a contract signed and finalised.

"People can get often get caught by builders who want a deposit before they begin and see the site, and then charge an extra amount for land clearing or something of the sort. It's a big concern," he said.

"If you are searching for a builder, you really need to make sure you sign a contract with no money included until you get financial approval and are aware of the overall costs."

Though this can see like a lot, Mr Maddock said as well as being able to build the home of your dreams, there are a lot of perks to building over buying.

"If you get a house built you'll also have a lot of warranties. Six and a half years is a common warranty you'll have on watering, with anything from leaky pipes or leaky roofs, the builder must fix it," he said.

"It's the same deal for structural issues too, and you just don't get that security with older houses."