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What are the benefits of building vs buying an established home? 

What are the benefits of building vs buying an established home? 
December 8, 2020 Sally King

Building vs Buying is the first decision you need to make when you start the journey to owning your own home. Deciding which option is best for you can be tricky and fraught with indecision. Buying a pre-established home is an option, but there are quite a few reasons why building your new home is the better choice. Some of these are listed below:

 

Start fresh

Building your own home allows you to customise your floor plan for your own unique needs, starting from the ground up. You are able to choose whether you would like to have a front or rear living, how many bedrooms and bathrooms, and basically have control over the whole layout of your home design. When you buy established, although you can do some renovations to the property to make it more suited to your needs, these can be very costly and inconvenient. To get everything you want in your new home without having to compromise, building is definitely the way to go.

Building Vs Build | New Custom Designs

Choose your details

Building from scratch means you get to select every detail to suit your own needs and style, from flooring to roofing, and everything in between. Everybody wants their home to stand out, and to reflect their personality and style, and building your own home gives you the perfect opportunity to put your own personal touch on the finished product.

 

First homeowners grant

If you are a first home buyer, you may be eligible for the $10,000 First Home Owner Grant, to use towards whatever you want in your new home. Whether you choose to use it to cover your rent while you build, or put it towards new furniture that suits your home, it is totally up to you. Buying an established house, even if it is your first home, means you will not be eligible for the First Home Owner Grant.

Building Vs Build | Contract Obligations

Stamp Duty

When you buy an established home, you need to pay stamp duty on both the land and the home, while building a brand new home means that you only pay stamp duty on the land, which saves you thousands of dollars. It is worth remembering that buying an established home does come with an additional cost, and when trying to get into your own home, every dollar counts.

 

Top of the line

When you choose to build, you have the choice of the newest features available. This includes ensuring your home will have the highest energy efficiency. Another big plus of building is that your new home comes with a warranty, everything is brand new but should there be an issue, your builder will rectify it. The peace of mind that comes with a new home that is under warranty is priceless, unfortunately, when you buy established, any problems that arise are not under warranty.

 

To get started on the process of building your own home, contact the Dreamstart Homes team and find out why building vs buying is the better option.

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