Hands of engineer calculating budget estimate for project

Building a New Home? Learn How to Allocate Your Budget

Hands of engineer calculating budget estimate for project
by
Rochelle

When you plan on building a new home, the very first and most responsible step is deciding on a budget. Once you have your budget in mind, there’s no reason why you can’t build a home that meets your exact needs. The team at McDonald Jones Homes is here to help you figure out the best way to allocate your budget and stretch your money further.

First Things First, Establish Your Budget

The pathway to your new home starts by deciding how much you would like to spend. Ultimately, it’s about how much you can afford, and then stretching your dollars as far as possible so you end up with the best home you can build instead of simply owning a “cheap house”. If you want to put as much of a budget into your home as you can afford, start from the end and work backwards. Determine how much cash you have on hand and what kind of monthly payments you’ll be able to afford for the long run. To help you with your budget, McDonald Jones is currently offering you the ability to save up to $12,000 on interest while you build your new McDonald Jones home* If you’d like to know more you can download the offer flyer and terms and conditions here.

Use Our Savings Calculator

Comparing and applying for home loans is a lengthy and frustrating process. If you’re interested in building a new home and you’re looking to the future, why not take it one step further and set a savings goal? Use our savings calculator to project how much money you can potentially accumulate over a set period of time.

Don’t Forget About Taxes and Insurance

There is more to buying a home than the cost of bricks and mortar. You need to keep your property taxes and insurance cost in mind and include that in your long-term budget. Once you’ve established a realistic budget, consider additional costs such as mortgage registration fees, stamp duty, land transfer registration charges, and fees imposed by your conveyancer. If you intend to build in NSW and you’d like to avoid conveyancing fees talk to our in house conveyancing firm MyChoice Conveyancing. Their service comes at no cost to you* if you are purchasing: Land owned or controlled by the MJH Group OR A payment on completion house and land package from the MJH Group. *Conditions Apply. Excludes government charges (such as stamp duty) or any charges by financial institutions & VOI (Verification of Identity).

McDonald Jones Homes offers a budget planning tool that will help you take every factor into account at once. Use this tool to establish your budget and, from there, it’s simple to find a home design that you can comfortably afford.

Let Your Home Builder Help

No one understands the costs of building a home quite like McDonald Jones Homes, which is why we offer a huge range of affordable options with different luxury inclusions. Browse the NOW series of affordable homes to find a design that comes with everything you need and nothing you don’t. Using a complete service like MJH will take the stress out of allocating a budget because the costs are established from the get-go. Contact us online or call 1300 555 382 to make the move into your brand-new home and start living the great Australian dream.