Smart Start by Wilson - Invest Start Workbook

Smart Start by Wilson - Invest Start Workbook

by Smart Start

P OW E R E D B Y

STEP BY STEP GUIDE TO Building your dream home

However, it's important to understand how investing in property works, to decide if it's right for you.

Property investment is often seen as being less risky than other forms of investment. However, while it may seem more straightforward, there are pitfalls to be aware of. Here's what you need to consider about investing in property. Invest Start by Smart Start is an initiative of the NXT Building Group – one of Australia’s largest and most trusted builders. We’ve drawn on the combined knowledge and

resources of our group to produce this step-by-step program to building your dream investment home.

by Smart Start

The program teaches you everything you need to know about the entire process, to ensure your home-building experience is as simple, fast, aƒordable and stress-free as possible. It outlines all the things you need to take into consideration and all the ways we can help along the way.

The content in this workbook has been created from members of the NXT Building Group and is only an opinion. This workbook is general information only and must not be relied upon as personal legal, financial or investment advice. There is no consideration given or will be given to one’s individual specific investment objectives, financial situation or need of any person. Please be aware that ALL property investing is subject to both profit and loss and may not be suitable to you. Past performance is no guarantee or reliable indication of future results.

Invest Start Consists of three fundamental beliefs:

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Awareness

Belief

Action

Awareness of what you want. Awareness of where you want to be, what you want to achieve and what has prevented this desire from becoming a reality.

A belief that you can achieve your goals. More importantly, a belief that you deserve these goals and you

Sitting down and establishing a plan of action and following through with that plan. Seeking out the support you need to implement the process and using that support as a resource to stay on track. Most importantly, being able to solve problems and move forward.

will commit to an achievable plan.

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Before we move on to how we believe we can assist you to achieve this, we should take a look at what stops most people from embarking on this journey.

Most people don’t have a goal and don’t formulate a plan to achieve it. You may have an idea about what you would like to achieve in your life…but struggle with how to set, revise and action your goals. Setting a goal needs conscious thought to make it specific. Research has shown those who write their goals down accomplish significantly more than those who do not. Breaking the goal down into small steps and ticking each accomplishment as it is achieved provides great motivation to stay the course and continue. Most people don’t action their plan today. The single biggest factor stopping people achieving their goals and reaching their potential is procrastination. This leads to many of us going through life with an array of undone tasks, large and small, nibbling at our conscience and impacting on our potential. How many times have you thought “I wish I had done this sooner”, “If only I had done that”, “I should have bought that”, “I should never have sold that”. We all have these stories; they need to become life lessons. Procrastination is the cancer of wealth creation. If you have it, you need to get rid of it or it will kill your opportunities.

It’s like riding a bike. As a child, we are terrified of the unknown. Learning to ride a bike can be a very scary but truly rewarding experience. The steel, the spikes, the hard road surface are all very frightening. Once we are shown the process and someone guides us along… it becomes second nature. Unfortunately, most people don’t think it’s possible, so they don’t even try. Often, it is your limited thinking that holds you back. The way you think has the ability to turn your goals into a reality or, alternatively, keep you from achieving them. Breaking patterns of limited thought will encourage motivation and allow you to reach your potential in life. Whilst negative thoughts are natural, a positive mindset appears to allow a person to take a rational view of these negatives. People can, in fact, learn from them if they prove to have merit or dismiss them as such if they don’t and move forward in a particular situation, better prepared as a result. Many of the world’s top CEOs agree when asked if “attitude” has indeed played a pivotal role in their success.

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We don’t think we earn enough to be wealthy

Why do Australians feel they are not wealthy Only 22% of Australian’s will earn

Again, limited thinking inhibiting awareness and belief has instilled in us a view that we must earn a significant salary to become wealthy. In reality however, success stories are filled with those most successful that started with next to nothing on modest incomes.

The di…erences? They used their salaries to improve their situation and kept compounding this throughout their working lives. Did they have set backs? OF COURSE. But they persevered and solved the problems. Use your income, whatever that may be, in conjunction with a structured plan and start the process of incremental growth and achieving your goals today.

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We feel that the pension will be enough for us in retirement

You work and pay taxes, so the pension is your right and will pay a dividend in retirement. In reality the base pension in today’s money will give you:

Do you believe this will provide a lifestyle you expected in retirement that could realistically last for 20 years? Most people surveyed have visions of retiring early, ranging from 55 to 60 years of age and entering a phase of their life where “enjoyment” starts. Advances in medical science and health and wellbeing have successfully continued to raise life expectancy and so many of us have plans of travelling, playing recreational sport and enjoying active social lives when we reach retirement age. When in reality, an increasing ožcial pension age threshold and lack of funds through inaction now will be the biggest obstacle in realising these dreams.

enough from their superannuation to fund their dream retirement lifestyle.

Single: ▶ $766 per fortnight before tax ▶ ($19,920 per annum before tax)

NEW DAILY 2017

Couple: ▶ $577 per person per fortnight before tax ▶ ($30,000 per couple before tax)

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We were not taught how to build wealth by our parents & teachers

In early life and at school, we start out being taught the fundamental basic core skills – reading, writing, math and to a certain extent, saving. As we progress through life, educational subjects become more complex – science, geography and history for instance increase our intellect, stimulate our curiosity, open our minds and broaden our general knowledge, triggering other interests. Yet our financial skills are left back at the basics.

In fact, unless we opted to undertake specific courses in tertiary education, our knowledge of finance and financial structuring leaves us uneducated on a life skill that will be utilised on a daily basis throughout our adult lives, including wages, payment of mortgages and taxes. Most importantly, we don’t have coaches. We don’t have the support of mentors and coaches who have achieved similar goals to what we desire, and guide us through the journey. Let me ask you three questions: i) Who taught you how to read and write? For most, it would be our teachers. ii) Who taught you right from wrong? Once again, for most it will be our teachers or parents. iii) Who taught you how to be a multi-millionaire when you retire? This question is a lot harder to answer.

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So lets look at the Pro’s & Con’s of investing in property:

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We don’t like being in debt and we don’t know the difference between good and bad debt

Pro’s

Most people have an inherent fear of debt, most likely from our lack of education on finances, and therefore, our understanding of good vs bad debt. Debt, under its simplest definition, is “money borrowed by one party from another”. Sounds bad doesn’t it? And when used to fund depreciating and non-deductible assets such as private vehicles, boats and luxury consumables, all certainly qualify as bad debt.

However, investment in appreciating assets, education and professional services that leverage your knowledge and funds, creating a long term net return, are all examples of the use of good debt. There is merit in the old adage “It takes money to make money” and the fact of the matter is every successful person that has increased their net worth throughout their life has leveraged their funds in order to achieve this. You need to leverage someone else’s money to work for you.

Less volatility Property can be less volatile than shares or other investments. Capital growth If your property increases in value, you will benefit from a capital gain when you sell.

Income You earn rental income if the property is tenanted.

Tax deductions You can oˆset most property expenses against rental income, including interest on any loan used to buy the property. No specialised knowledge required Unlike some complex investments, you don't need any specialised knowledge to invest in property.

Physical asset You are investing in something you can see and touch.

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We think building wealth is just for the smart and lucky ones

Con’s

Once again, we find mindset as a core obstacle in achieving our goals. Luck is when opportunity knocks, and you answer. But you have to be in a mindset to hear the knocking. Being smart has many definitions and recognising our limitations and seeking the appropriate expert advice in order to achieve the desired outcome is certainly smart.

You would not take your car for a service to your baker. You would take it to a qualified mechanic, who is trained and educated to service the vehicle. Using the skillset of educated people is smart practice. Thinking you can do it yourself…roll the dice and good luck.

Cost Rental income may not cover your mortgage payments and other expenses. Vacancy There may be times when you have to cover the costs yourself if you don't have a tenant. Loss of value If the property value goes down you could end up owing more than the property is worth.

Interest rates A rise in interest rates will mean higher repayments and lower disposable income. Inflexible You can't sell oˆ a bedroom if you need to access some cash in a hurry.

High entry and exit costs Expenses such as stamp duty, legal fees and real estate agent's fees.

Buying, managing and selling an investment property can be costly and will aˆect your overall return.

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Now let’s look at some of the costs involved to buy and sell a property:

▶ Stamp duty ▶ Conveyancing fees

If you sell your property, you will have to pay agent's fees, advertising costs and legal fees. You may also have to pay capital gains tax if the property has increased in value.

▶ Legal costs ▶ Search fees ▶ Pest and building reports

Borrowing money to buy:

If you borrow to invest, you will have to pay the property mortgage. Don't rely on rental income to cover the mortgage – there may be times when your property is empty.

Many people buy investment property with interest-only loans, but remember the interest-only period will end after a certain time. This means your repayments will increase to pay the amount borrowed, plus the interest.

Ongoing costs of investment properties include:

▶ Council and water rates ▶ Building insurance ▶ Landlord insurance ▶ Body corporate fees ▶ Land tax

▶ Property management fees (if you use an agent) ▶ Repairs and maintenance costs ▶ Tax on your investment property

Although you may be able to claim tax deductions on expenses, you'll still have to pay them up front. For positively geared investments, you may pay tax on your rental income. Visit the Australian Taxation O
ce (ATO) for how tax works for investment properties and also consult your financial advisor, financial planner and Accountant.

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Finance Fit is an easy-to-follow program which reviews your monthly expenses, including short term debt, to determine exactly what you'll have left over each month.

Deposit Starter program which will accelerate your savings scheme and get you in your dream home in the shortest possible time. If your finances are already in order and you have enough deposit, you can move straight onto Step 2 of the Smart Start program in the perfect, financially fit position.

If you need to consolidate and repay short-term debt, the Finance Fit debt reduction program, which runs over a maximum of six months, will show you how. The Finance Fit guide to budgeting will address any weaknesses in your financial profile so your application is significantly more appealing to lenders. Once you have that in order, you can move on to our

Before you apply for a loan, we'll work with you to ensure your financial position is as strong as possible, so your application passes with flying colours!

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Here’s why Australian residential property makes a great investment

Sustainability

Australia’s population is increasing every year. This increase comes from natural births and immigration.

Of this, approximately 95,000 were of temporary visa and student visas while close to 200,000 are permanent residents of Australia. This is an astounding 5,600 people per week…every week…that arrive in Australia. This plays a significant part in property supply and demand. These 295,000 immigrants would love a share portfolio or a big fat super fund. But there is one thing that every single immigrant MUST HAVE to survive in their new country…a property to live in.

Immigration is playing an enormous part in the supply and demand of residential property in Australia. In the Parliament of Australia Migration Paper dated June 2016, in 2015 Australia’s migration numbers were approximately 295,000.

Income and yield

Shares have the potential to pay a dividend if you experience an increase of share price. In recent years, rentals across Australia have increased at a rate outpacing inflation. If you look at a 4% return on rent, it doesn’t seem that impressive. However, we need to factor in the return on investment rather than the return on the property value. For example: A $500,000 property with a rent of $385 is a 4% gross rental return. However, if the As with any investment, you must consider 2 variables for success – cash flow and growth.

cash outlay to buy the investment was only 5% deposit plus cost… say $35,000. Then a $385 per week on a $35,000 investment is actually 57% gross return. Plus, we then need to factor in growth. Percentage growth comes from the increase in value from the acquisition to now. Once again, a property that may grow at 6% (the national average for the last 20 years for residential housing is 8.2%) does not seem like a great return. However, 6% of the price of $500,000 is $30,000. Add your rent of $385 per week and another $30,000 per year from growth and you can see how the benefits of leverage and compound growth make property so desirable.

Security

For decades, the banking sector has recognised the value of the Australian housing market. They have accepted its proven history of capital growth and rental returns. They also accept that housing can be used as security against loans. The banks actually believe that the best asset class to secure loans is property. Hence the ability to

borrow or leverage up to 95% against the value of a property, the largest loan value ratio of any asset class for security. At the end of the day, when the banks lend money to invest they are actually taking the greatest risk. If it all goes belly up, the banks have the biggest debt against the asset. So ask yourself, why banks will lend 60% against shares with a margin loan and up to 95% against property? It comes down to security for the banks.

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There is a mountain of research, paperwork and compliance that needs to be completed prior to commencement of this financial freedom journey.

A strategy tailored for you.

Before recommending any strategy or plan to any client, Smart Start LISTENS. We listen to what you want, what you like and what you don’t like. We listen to the type of investor you are and type you want to be. We listen to your lifestyle requirements and aordability.

▶ Within 5km of a preschool, secondary school, private school and shopping centre; ▶ Within 30–35km from a CBD or a strong job catchment of multiple industries; ▶ Minimum 4% returns; ▶ Infrastructure to provide capital growth; and ▶ Minimum 30% of your money spent on the land. All properties recommended by Smart Start will have most of the following criteria:

Not until all of this has been done are we able to recommend

a plan and subsequently recommend a property.

Once your investment “appetite” has been established, we can then look for properties that best fit your needs.

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Summary In summary, when it comes to thinking smarter about your future and like a successful investor, we need to take 4 important steps.

1.

Income

When you invest in property, you will receive two streams of income. The first is the rent and the second is the tax.

You need to maximise these two streams of income to best position the property in regard to cash flow. Remember, growth and cash flow are a see-saw.

Once these two streams are identified, you need to position them to rapidly increase the deduction of your home loan. Essentially, Smart Start will structure your cash flow to maximise the reduction of your home loan.

HIGH CASH FLOW = LOW GROWTH HIGH GROWTH = LOW CASH FLOW

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We then need to identify our awareness of where we are today.

Firstly, we need to identify our retirement goals. This is where you spend some time as a couple or as a family and you list the things that are important to you. The things that you are passionate about. The things that drive you every day. You create the target that you can aim for. This target starts o with “things” but we need to analyse it with the true awareness of numbers. When do we want this freedom (i.e. what year)? What sort of an income would we need to achieve this freedom?

You should have completed the asset and liability form provided and now have an understanding of your retirement net worth as of today. A good reality check it to divide this number by the amount of years you have been working to get a yearly figure average you have been able to build. This can be scary and quite confronting for some. This is today’s starting point. The good and the bad.

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Growth

Capital growth is the increase of your property over time. Ideally, we are looking for steady growth over the plan to enable us to duplicate with the equity.

Growth comes from the basic economic principals of supply and demand. If there is a shortage of supply or a high demand, prices increase. Demand for property can be pinpointed to just one thing…population. If an area has infrastructure projects or great job creation, this will attract people to the area, putting pressure on rents and prices. Infrastructure can come from two areas. The first is the Government through the creation of schools,

roads, transport, bridges, etc. All these things create a better and more desirable place to live. The second area is private money. These are things like shopping centres, recreational areas and lifestyle activities. This private money can be spent anywhere. Companies spend millions on research before they commit billions of dollars investing in an area; so any privately funded infrastructure is a big plus in the area.

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We then need to establish a conservative plan, using property to achieve these goals.

You start to build your financial freedom. GOALS

3. Duplication

Once you have the target or goals set, you can then create the plan to achieve them. The plan will be totally up to you and your comfort levels. Some like to be aggressive and some like to be conservative. Like your goals, you must create the plan with the same foundations. The plan must be realistic. It must compliment your lifestyle and it must be achievable. If these simple steps are top of mind when creating the plan, you will be making choices within your comfort zone. They will not aect your lifestyle and you will be celebrating each milestone along the journey.

For most people, just one property won’t realise the freedom they want in retirement. To create real wealth for yourself and your family, you will need to build a portfolio of properties. This process is called duplication.

+ PLANS = SUCCESS

So what is duplication? To buy investment properties and build a property portfolio, you really need two things – equity and income. Equity will provide the deposit and costs associated with the purchase and your income must be high enough to service the debt. Now remember, your income is your job AND your rent.

Once you have enough growth in your properties and enough income from your employment and rent, you can duplicate this process…once again, staying within your lifestyle guidelines.

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Deposit Starter is as simple as it is realistic and takes into account your individual lifestyle needs.

We understand how daunting it may seem to save for a home deposit and when you’re buying your first home, the Deposit Starter program is for you. Deposit Starter will give you the confidence to start the process of finetuning your savings strategy to achieve your goals sooner. Think of it like a race, whichever lane you’re in or however many hurdles you have to overcome, working with Deposit Starter will keep you on track and ensure the finish line is always in sight. A program designed to get you into your home sooner, Deposit Starter is a savings plan – with cash incentives! – which can be customised to your individual circumstances. Your Smart Start Mentor will work with you to obtain a clear picture of your true income and expenses. They will then show you how you can tweak your spending habits to make significant progress toward saving your deposit. And they’ll explain how your dedication to the plan will be further boosted by quarterly cash incentives from Smart Start! Talk to your Smart Start Mentor about how to make Deposit Starter start working for you.

IT WILL HELP YOU:

Welcome to

Set your deposit goal and determine how long it will take to achieve.

Use the budgeting tool to determine how much you can save each month.

Track your progress and provide guidance and encouragement.

Achieve your quarterly savings goals which will be rewarded with cash contributions from Smart Start to go towards securing your newWilson dream home.

Ensure you cross that savings finish line in the shortest time possible, with a solid financial record to strengthen your home loan application.

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Home & Land Selection 2

Snap Shot

ME ET I NG 2 :

Now that your finances are in order, we can concentrate of the fun part – choosing where you’re going to live. In Step Two, we take you through all the things you need to do to choose the ideal block of land. This step includes the next two meetings with your Smart Start Mentor.

Your Smart Start Mentor will show you how to: ▶ Choose the right location/suburb ▶ Select the right block of land ▶ Secure your block of land with the initial deposit

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When choosing your ideal location/suburb, take into consideration the following five factors:

1. Facilities A location with excellent community facilities can add to the quality of life and enjoyment for the whole family. Think about what’s important to you (and what may be important to you and your family in the future). That may include: sports clubs and other sporting facilities; leisure facilities; dance, drama/art schools; churches; social clubs, just to name a few. 2. Shopping & Convenience Services Having access to convenient local shopping is an important consideration for many new home buyers. Think about the types of shops and services you’ll need on a daily or weekly basis. Also look into any future shopping services that are planned and when they will be opening. 3. Education & Childcare Services If you have children or are planning on having children, you’ll want access to great early learning centres and schools. It’s important to know what types of facilities are in your area and where. If you’re interested in public schools, you should also look into their zoning. Don’t forget to investigate whether any new facilities are planned for the area and, if so, when they will be opening.

Keeping in mind how much you can aord to borrow, list three locations/suburbs you believe you’d like to live in. Using the five key factors outlined above, list the pros and cons of each option: 4. Transport Services & Infrastructure Access to good transport options will definitely make your life easier. Check out the existing or planned public transport system and decide if it will suit your needs. Will it give you easy access to work, schools, sporting facilities, shopping and all the other locations you visit regularly? Infrastructure is one of the most important factors when it comes to your location/suburb. Before choosing your ideal location, make sure you’ve done your homework and know if there are any road or rail extensions or upgrades planned for the area. 5. Ensure the developer’s credentials If you are purchasing land in a new development, it’s important to have confidence in the company that is doing the development. Just like some builders, some property developers over-promise and under-deliver. So, it’s important to be comfortable with the developer and trust that they will deliver what they say they will.

You may already have an idea of where you’d like to live but have you thought of everything? There’s a lot to consider when selecting your ideal location/suburb and choosing a great neighbourhood will have a big influence on how happy you are in your new home. Now you know how much you can spend on your new home, it’s time to choose the location/suburb that’s right for you – now and into the future.

Location/suburb

Pros

Cons

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Lock it in!

Once you’ve chosen the right suburb for your new home, you need to find the ideal block of land. Your land is the foundation for your new home, so it must be right. There are three important factors to consider:

The next step is to secure your Home and Land package with a deposit on your land. Your package is divided into two transactions, one for the land and one for the building.

1. Size

The first step is to ensure the size of the block of land suits your needs and budget. Carefully consider how much space you really need (now and into the future) and be sure it matches your budget. Land can be expensive, so ensure you don’t commit to more than you need. Most subdivision developments provide outdoor recreation areas, so you probably don’t need as large a block of land as you may have thought, especially not for your first home. Smaller blocks also mean less lawn mowing and maintenance, so you’ll have more leisure time.

Your Land Deposit is $

Both transactions have a separate agreement, so once your deposit has been received, a land contract will be ordered from the developer and a building contract will be drawn up by Wilson Homes.

2. Aspect and zoning:

Selecting a well-situated block could deliver big savings on your energy bills. Considering solar orientation and the aspect of the block can influence your options for building, as builders use dierent methods to design and build homes for a wide variety of land shapes and styles. It’s important to decide on a design which will maximise the features of your chosen block. Make sure you understand the setbacks, easements or zoning requirements that may apply. Special considerations for wildlife and native bushland are also important to note.

HANDY HINT Depending on how early in the development process you are purchasing, your land will either be Titled or Untitled. Title Issuance is the final step in a developer’s subdivision process, where the land blocks are recognised as being ready to build on. If you’re purchasing a home & land package on a Titled block, Wilson Homes will be able to finalise all details and lodge for building approval as soon as possible. If you’re purchasing a home & land package on an Untitled block they will need to await Title Issuance before they can finalise some of the details for your block and lodge for building approval.

3. Design covenants

When purchasing in some subdivisions, there may be design covenants which apply to the block of land. Design covenants protect the standard of housing in a community and must be adhered to. They are there to ensure all homes built within the community are of a similar quality, which ultimately, should protect your investment and enhance capital growth. While they need to provide direction on the design of the home, they should still allow flexibility for you to express your individual style.

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Snap Shot

ME ET I NG 3 :

You’ve done all your homework, your finances are in order, your Home Loan Specialist has helped you secure the right loan, your Conveyancing Consultant has been engaged to take care of the legal work and your Smart Start Mentor has helped you decide exactly where you want to build. Now it’s time to make your dream home come true. Your Smart Start Mentor will introduce you to your Building and Design Consultant who will: ▶ Show you the standard inclusions that come with your chosen home ▶ Identify everything you need to include in your new home ▶ Explain all the optional extras you can choose from within your budget ▶ Confirm all the options you’ve requested are included in your Quote ▶ Secure your home package with the Acceptance Fee Home Selection Phase

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3. What are your storage requirements?

You may have work related tools or equipment which need to be stored every day. Perhaps you need space for items which relate to your hobbies. If you’re going to start a family, how much space will you need as your family grows? These are all important factors to consider when choosing your home design.

Storage is an important consideration for most homeowners.

Now you’ve decided where you want to live and the block of land that’s right for you, it’s time to select your home. Living in a home which reflects your individual style will make life more enjoyable. When building a new home, it’s important to consider what design options are going to be a ordable, functional and aesthetically pleasing for you and your family. Selecting a design that makes the best use of your chosen block and its unique site and environment factors will have a major impact on the comfort and quality of living in your new home. It’s important to be very clear on want you NEED and then address what you want if your budget permits.

Notes:

4. How many car spaces?

If you need space for two cars, you need to ensure they can be accommodated in your chosen design before you purchase the block. If your budget and block size allow for a double car garage, it can add value to the property and make it more desirable to larger families should you decide to sell at a later date.

Your block of land can sometimes determine how many car spaces you can have. In some subdivisions, design covenants, dependant on the block size, can determine if you are allowed a single or double car garage.

To ensure you choose the right design, you should consider five key design questions:

1. How many bedrooms and bathrooms?

Taking into account all of these design questions, your Building and Design Consultant will help you choose the home design that’s right for you.

How many car spaces do you need:

Now you need to make sure your house suits your needs, now and into the future.

Most families consider it important to have a minimum of two bathrooms, a separate toilet and an area for a laundry. Don’t be too concerned if the laundry on some smaller designs is in a cupboard, as this is an e ective use of space for a part of the house that is hardly used.

Can your chosen design be adapted for future lifestyle needs or extended to include an additional bedroom or living space when you need and you can a ord it? Bathrooms and other wet areas can be a considerable cost when building but they will cost even more if you have to add them as part of an extension.

5. What do you want the overall look and feel to be?

There are many styles you can adopt from all over the world. Contemporary homes tend to feature plenty of light and space and have interconnected, free flowing living spaces. You can choose a light colour feel like coastal beaches or Hamptons living or, perhaps a darker, resort living feel is more your style.

List down how many bedrooms, bathrooms and living areas you need:

Living Areas:

Bathrooms:

Bedrooms:

Choice can be pretty exciting, it can define who you are and has endless possibilities. But being faced with so many choices can be overwhelming. Our dedicated MyChoice Design Studio consultants will guide you through every step when it comes to styling your new home.

2. How important are indoor/outdoor rooms to you?

Most Australians like to entertain and maximise the use of those indoor/outdoor spaces. Decks, patios and outdoor alfresco areas are some options for outdoor rooms where you may end up spending most of your time. These “rooms” may be excluded from council floor space regulations, which makes them an a ordable way to extend the living space in your home. Have a think about how you will use your indoor living rooms now and into the future. How will these rooms function di erently from each other and are they all necessary for your first home?

Most Australian home designs make great use of open plan living which provides seamless transition from the indoor to the outdoor.

Creating the style you always wanted!

The MyChoice Design Studio team understand that trends will always come and go, and they appreciate fundamental design styles that endure the test of time, capture personality and make your heart sing. They will give you the confidence to approach the design style for your new home with real passion, so you can fill it with colours, textures and features that reflect who you are, and how you want to live. From Classic to Coastal, Urban to Luxe, Contemporary to Global, the MyChoice Design Studio team can bring your vision to life.

Which design style would you like to explore for your new home? brands. The MyChoice Design Studio o ers thousands of products and materials for every client to touch, feel and appreciate in this homeowner’s heaven. When it comes to drawers and doors, sinks and switches and everything else that makes a house a home, you’ll be spoilt with service and choice from Australia's most loved

Notes:

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Now you know what style you want for your home, you can start exploring design options and, as you discover ideas, you’re going to need somewhere to keep them.

Pinterest is a great tool to help you find the inspiration to create a home you love. You can store style tips along with any home, furniture and landscaping images that inspire you in your own Pinterest account.

Now you’ve selected your home design, you need to understand what’s included in your home package. All builders start with a base price and some of them can seem very cheap but often that’s because the price doesn’t include a range of essential items. To avoid unexpected additional expenses, it’s important to check that, as a minimum, the quoted price on your new home includes these essential inclusions:

1. Go to Pinterest.com 2. Select Sign up. You can either sign up with an email address and password or through your Facebook or Google account. Follow the easy prompts to set up your account 3. You'll receive a Welcome to Pinterest message. Select Next 4. Answer the setup questions, select some areas of interest, and select Done 5. Check your email for a message from Pinterest asking you to confirm your email address 6. Your Pinterest account is set up, and you're ready to start browsing and pinning 7. Have fun Pinteresting! With a personal Pinterest account, you'll be browsing, exploring, pinning, and interacting with other users in no time! And setting up an account is easy:

Carpets and internal tiles

Alfresco flooring

Driveway

Landscaping and turf to the front only

Clothesline and letterbox

Blinds allowance

Light fittings

Flyscreens

Your Building and Design Consultant will ensure everything you need is included in your total package price, so you avoid the unpleasant surprises which come with unexpected costs.

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Congratulations! You’ve made the decision on your home design and now it’s time to look at the inclusions you want. Now, it’s time to take a closer look at the standard inclusions and finalise your Proposal for your new home. Your Building and Design Consultant will prepare all of the costings for you and tailor your Proposal based on your budget and your needs. They will then present it to you and finalise any last details so you can accept your Proposal and take one step closer to construction.

Your Building and Design Consultant will ensure the following features are included:

An independent quality inspection on completion of the home to ensure the quality you pay for

Fixed Price Guarantee with no surprises

Essential inclusions

A structural guarantee on your new home

Quality Assurance with a tried and tested, financially secure builder

Water Eciency Wels Rating Fixtures

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Acceptance Fee Taken

Your acceptance fee entitles you to a generous 20 month price protection period (if your land is Titled, your Building and Design Consultant can discuss extension options should you require).

The next step in securing your Home and Land package is with a deposit for your new home. Lock it in!

During this time, we’ll need to work together as a team to complete the next steps. This will enable Wilson Homes to start on your site in the shortest possible time or to be prepared as soon as your land is Titled. You will need to: ▶ Authorise your acceptance of your Quote by signing a Preliminary Agreement. ▶ Pay your (non-refundable) acceptance fee. ▶ Our MyChoice Coordinator will contact you to make an appointment to attend your first Open Studio Session at the MyChoice Design Studio to view your selection options and give you an introduction to the Studio – please allow 1–2 hours for this visit. This appointment needs to be completed before any further MyChoice Design Studio appointments can be booked.

The Wilson Homes Team will: ▶ If your land is Titled, order a current soil test and electronic contour survey and acquire any additional reports relating to your land that you were not able to supply. If your land is Untitled, we will order these reports when they become available and we ask that you supply the updated documents listed above when they become available to you. ▶ After you attend your first Open Studio Session, we will send you an email with a link to your MyChoice Design Studio Selections Guide – a comprehensive guide which includes some pricing to help you get ready for your next appointments and a MyChoice Design Studio contact to answer any unpublished pricing requests. ▶ Send you a link to your own personal MyHome Customer Portal giving you 24-hour access to everything you need during your time with us.

Your Home Deposit is $

This secures your new home at today’s pricing with the added benefit of locking in any available promotions so you can continue to save, knowing you have the best deal.

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Consolidated Tender Appointment

Your Consolidated Tender Appointment will detail any variations you have made and any additional requirements that need to be addressed based on the findings of the statutory reports.

If your land is unregistered, you will be issued with an Interim Consolidated Tender to allow your build to progress to the Drafting Department and the MyChoice Design Studio.

The CT/ICT is the final ‘Planning Document’ that will be issued to our Drafting Department to produce your set of Working Drawings. While the CT/ICT forms part of your Building Agreement, it is not your final Building Contract. Acceptance of your CT/ICT concludes formal contact with your CT Presenter, and you will now be introduced to your Project Coordinator who will be your main contact until you enter the construction phase. and air conditioning units, the size and style of windows, the final finished levels of the driveway, and the location (if needed) of retaining walls may be discussed with you at this stage if the outcome of the reports requires any amendments to the plans. If you’ve purchased a Home & Land package on an Untitled block, these detailed investiga- tions will be undertaken as soon as your developer advises us your land is titled. The results will be included in your contract as an amendment or variation. You can still proceed with Appointment 3. You will need to: ▶ Check the CT/ICT to ensure it meets your expectations and accept the documents by: • Signing the CT/ICT Letter • Signing your Draft Sales Plan ▶ If any variations are to be made, these will be made and reissued to you for acceptance on the day of the appointment. NOTE: On acceptance of your CT/ICT, the remainder of your MyChoice Design Studio Appointments will be booked including your Plans, External Colours and Contract Appointment, your Internal Colour Appointment and your Electrical Appointment.

Your Building and Design Consultant will:

If your land is Untitled, upon acceptance of your ICT and whilst you wait for your land to receive title, you can visit the MyChoice Design Studio Open Sessions as many times as you need to view the selection options available. To arrange this visit, you can make a booking via [email protected]. This way you can keep up to date with the latest trends in styling your new home and be fully prepared when the time is right to make your selections. HANDY HINT If you’ve purchased a Home & Land package on a Titled block, while you’re researching your colour schemes, in the background Wilson Homes will be fully investigating your land by conducting a range of tests and reports, including contour survey, soil tests, engineering, specialist reports and enquiries with your developer, certifiers, water authority and other suppliers. As you’ve purchased a fixed price building package, none of these reports will have any a•ect on the price of your home, however, sometimes they may a•ect the way the house is built on your site. Changes such as location of rainwater tanks ▶ Guide you through your Draft Sales Plan detailing site information gained from your reports and all your requested structural variations – your selection items will not appear on this plan. If your land is Untitled, your site requirements will also not appear on this plan as they are yet to be determined. ▶ Guide you through your Consolidated Tender (CT) or Interim Consolidated Tender (ICT) detailing your consolidated pricing and any bonus items agreed to.

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Your Project Coordinator will introduce themselves to you and will explain what will happen during your MyChoice Design Studio appointments. They will also explain all of the steps in the planning and approval process including: Snap Shot ▶ The Building Contract ▶ Building Approvals ▶ MyHome Portal

This stage involves six important appointments:

1. Phone appointment with your dedicated Project Coordinator 2. Plans Appointment

3. My Choice Design open studio 4. My Choice Design selections 5. My Choice Design electrical 6. Loan Document Signing

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The final step involves a range of meetings with a variety of teams from Wilson Homes. Here’s a summary of what to expect during the planning and building phase:

Snap Shot

Snap Shot

Building Phase

3 WHAT TO EXPECT

Planning Phase

STEP

PHASE

SUMMARY

Site Start

Within 20 working days of receiving the green light from your lender and all of the conditions of the contract being met, we will shedule work on your site by preparing orders for labour and materials.

STEP 1

APPOINTMENT

TEAM MEMBER

APPOINTMENT 1

MyChoice Interior Designer

Walk through tour of the MyChoice Design Studio to explain your interior and exterior design choices and how the designer will help personalise your new home.

Slab

Site excavation, under slab drainage, concrete or screw piering and pouring of concrete slab. First progress payment is due.

STEP 2

APPOINTMENT 2

Project Coordinator

Your Project Coordinator will meet you to walk you through your detailed working drawings to ensure your plans meet your expectations. You'll be asked to accept and sign oš on the working drawings. A copy of your HIA contract will be given to you to go through in advance of your contract appointment.

Frame

Wall frames and roof trusses are installed – your home is now visibly taking shape. Second progress payment is due.

STEP 3

APPOINTMENT 3

Conveyancing Consultant

Your Conveyancer will advise that the land contract has exchanged with the developer.

Brickwork & Roofing

The brickwork, roof covering, plumbing, electrical rough-ins and eave linings are all installed. You’ll be contacted to carry out a pre-lining inspection. Third progress payment is due. Time to move indoors as plasterboard linings are installed, timber skirting and architraves are completed and the kitchen is installed. A meeting will be organised to confirm your tiling. Fourth progress payment is due. The finishing touches – painting, wall and floor tiling, electrical and plumbing installations will be completed. Shower screens, mirrors and splash back are installed. You’ll be contacted to organise a pre-handover inspection. Final progress payment is due.

STEP 4

APPOINTMENT 4

MyChoice Interior Designer

You'll visit the MyChoice Design Studio to finalise your colour selections for your home. This is an all day appointment to choose all interior and external colour choices, as well as fixtures and fittings.

Linings, Kitchen & Tiling

STEP 5

Another visit to the MyChoice Design Studio, this time to decide the positioning of lights, switches and power points and to select any additional electrical items.

Electrical Consultant

APPOINTMENT 5

Practical Completion

STEP 6

APPOINTMENT 6

Home Loans Specialist

Your Project Coordinator will give you a copy of your Building Approval documentation, including your Building Contract and any post contract variations. Once we’ve obtained your building approval, you’ll be asked to pay your 5% deposit (less the acceptance deposit you’ve already paid). Your Home Loan Specialist will then provide the Authority to Commence Construction (ACC) to Wilson Homes so construction can commence.

O‡cial Key Handover

After the final payment is cleared, we’ll schedule an appointment to handover the keys to your new home!

STEP 7

Service & Warranty

We’ll be in contact regarding your 90-day Defect Liability Period so you can note down any items you’d like the Customer Care team to address.

STEP 8

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APPOINTMENT 1 :

This is your fact-finding appointment – you aren’t making any final decisions here, just walking around the MyChoice Studio to see what’s included, what’s available and starting to put ideas together that will make your next appointments easier to work through.

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APPOINTMENT 2 :

This appointment is packed full of education, review and decision making – now it’s getting real!

You’ll see your fully drafted plans for the first time, and you’ll meet with your Wilson Homes Project Coordinator who will be your ongoing point-of-contact through the administrative process. They will ask you to sign o on your Working Drawings.

At all stages throughout the day, you’ll be guided and advised through every decision. Your Wilson Homes team is very experienced in all aspects of the plans and contracts and will be able to answer any questions you may have.

What to expect:

Special Conditions for you to take home and review in advance of your contract appointment ▶ MyChoice Design Studio will email your working drawings and site preparation link so you can view them prior to your appointment

▶ Our Drafting Department will produce your working drawings, based o your signed and accepted Final Sales Plan and Consolidated Tender/Interim Consolidated Tender ▶ We’ll prepare your HIA Tasmania Residential Building Contract and

During your appointment, you’ll complete the following:

▶ Accept and sign your detailed working drawings ▶ Have your staircase design resolved (if applicable) so this can be included on the plans which are lodged to the authorities.

Please allow 2 hours for this appointment.

NOTE: If major structural changes are made at this stage, it will incur additional administrative charges. Any such amendments will be priced for you to sign-o at this appointment.

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