Building your own home from scratch may be a bit daunting, but there are certainly plenty of benefits to it, from the joy of having creative control over your vision to the money you could actually save. Here are 7 reasons why you should start creating your dream home now.
Savings and reductions
If you build your own home, you will only need to pay stamp duty on the land, not the house. You may also be eligible for stamp duty concessions if you buy off the plan.
If you’re a first home buyer, you may also be eligible for the First Home Owners Grant. Visit firsthome.gov.au for more information.
Lower energy bills
New homes have higher energy efficiency standards and are made from new materials with new appliances, so you may be able to save money on energy bills. This is especially the case if you decide to build a home using ‘passive design’ techniques that take advantage of the sun, insulation, energy-efficient glazing and more.
Any defects are covered under warranty
Phew! If anything goes wrong in your new home, you can breathe a sigh of relief and know that it will be fixed by the builder – all new Australian homes are covered by a minimum structural warranty between five and seven years on completed work. Some builders even offer extended structural warranties for even longer periods of time.
This is in contrast to buying an already established home, where it’s up to you to pay for any structural issues.
Greater creative control
Instead of inheriting less than ideal elements from an old house and compromising on the kind of home that you’d actually like to live in, building one of your own means you’re in control. While it can be a stressful process, it can also be quite rewarding.
Perhaps you’d like a generous kitchen island and marble benchtop with a sunroof above. Or maybe you’ve been yearning for a large backyard with space for the kids to play in. Now’s your chance to make that happen.
Less competition looking for land
Want to avoid spending endless weekends going to inspections, not to mention the emotional rollercoaster that comes with attending countless auctions? Build your own home.
Shiny new appliances
Older homes may have charm and appeal, but they often come with outdated appliances. If you build your own home, you can have it fitted with all the modern conveniences that you wish, from the latest dishwasher to a brand new stove.
Buying off the plan? It could be cheaper
While it may have its risks, buying off the plan often means you can buy a brand new home at a cheaper price. Developers often need to sell a certain number of properties to sell off the plan in order to meet their finance and begin construction, so if you get in early, you could snag yourself a bargain.