When it comes to building new versus buying an existing property, there are plenty of reasons to start from scratch
A home that lives up to your dream is a tall order – especially if someone else has chosen what it looks like and how it functions. Which is why we’re advocates of building new. Sure, there are benefits to buying an existing property, but there’s nothing better than knowing the home you’re moving into was built to your exact specifications. A floor plan that suits your lifestyle. Fixtures, fittings and a façade that won’t make you cringe. No time wasted and no new greys from stressful, costly renovations – just turn the key in the brand new lock (the one that you chose) and you’re good to go.
Beyond having a home that lives up to your impeccable taste and sense of style, building new can also mean a decent saving. A new home is almost certainly going to be built to a higher energy efficiency standard than an older home, which translates to lower energy and maintenance costs. And while an ambitious renovation may sound like a fun project, nearly every grand redesign comes riddled with hidden costs and hassle. Besides, let’s not forget the relief that comes with knowing that any issues or defects are covered by your new home warranty.
Then there’s the process of buying a home itself, which is stressful enough without the added pressure of competing against other bidders at an auction (there’s much less competition to buy land). You may even be eligible for the First Home Owner Grant, if this is your first house; if not, you may only have to pay stamp duty on the value of the land itself if you build new.
Having reached the stage where you’re ready to buy a house, one thing is clear: it should be a reward, and a rewarding process. Building new is the best way to make that a reality.
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