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When Is The Perfect Time To Build In Toowoomba?

Toowoomba is one of the jewels of Australia. Boasting a great climate and the perfect balance between small town hospitality and major urban amenities, it doesn’t get much better than living on the crest of The Great Dividing Range. 

Toowoomba’s population grows at about 1.22% per year, and is expected to reach around 117,000 by June 2017. Future predictions vary, but it can safely be assumed that Toowoomba will continue to grow into a very important satellite city for Brisbane and greater south east Queensland.

There are a number of factors that influence the ideal time to build a home in Toowoomba. Of course, your personal circumstances will always be the most important.

1. Current Housing Marketing Conditions In Toowoomba

With a steady upward trend in population, and a growing interest from both sides of state government in expanding the city’s influence, Toowoomba is ideally situated in the housing market. There is plenty of relatively cheap land still available, all within short distance of the major services that every family needs. With the federal government absolutely refusing to touch negative gearing and no brakes on foreign investment, there isn’t a lot of reasons to doubt the condition of the housing market.

If you’re wary of market bubbles, as you should be, then Toowoomba is ideal. Toowoomba hasn’t seen the untenable increases in price that Brisbane and other major urban centres have experienced.

2. Home Financing From Banks And Credit Unions

Interest rates are incredibly low right now, with the right lender and the right broker, you can arrange a loan to build your dream home at a very low interest rate. Considering the extreme competition among financial institutions right now, you can also explore options such as an offset account, a mixture of split and variable rates across the lifetime of your loan, and consolidation with existing debts. The competition between banks is in your favour right now, and it's a big factor to consider.

3. Understanding Toowoomba's Council Approvals

Council approval obviously plays a large part in the decision of when to build. Depending on what kind of home or establishment you want to do with your property, approval can be a long, painful process. It gets even more complicated when you’re dealing with existing structures, such as heritage-listed buildings or issues with other buildings in urban areas.

The sooner you start proceedings with Toowoomba Regional Council, the sooner you can get all the boxes ticked and start the building process. Naturally if you're working with Shelton Homes, we'll help with approvals. If you like, you can download our free '7 Things You Should Ask Before Signing Your Building Contract' guide here as a starting point.

4. Plan For The Right Weather Conditions

While it’s obviously a minor concern in the long run, weather conditions definitely plays a part in how quickly your home goes up once construction has begun. In an area like Toowoomba, you’re going to want to make sure you avoid seasonal storms and the wetter parts of the year. Delays can be expensive, so avoid them wherever possible and ask your builder about the best time of year to avoid storms while building.

5. Knowing Where You're At In Life

Where you’re at in life is possibly the most important factor in deciding when to build a new home. Whether you’ve got a job in Toowoomba, intend on retiring there, or are hoping to transfer there for work, you need to ensure that your life circumstances are lining up perfectly with your build.

Toowoomba’s got something for everyone at any stage in their life, and you can see our top 5 reasons to build in Toowoomba here if you like. Or some fun facts you might not know about Toowoomba here.

Ultimately though, you need to decide when is the right time to build your new home. If you want to get in on the ground floor of Toowoomba’s impending growth, now is the perfect time to build as Brisbane starts to get over crowded and people are looking for a more relaxed lifestyle.

If Toowoomba sounds like the place for you, get in touch with Shelton Homes today, we're always happy to chat and help you plan your future home.

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