Its often assumed that purchasing an existing home is cheaper than building new. Building your own space uniquely designed to your needs is often thought of as an expensive dream, rather than a potential reality.
International research shows that twice as many people would prefer to live in a new home, however often don’t recognise that those who are financially able to buy a new home, can probably afford to build a new home.
Benefits:
There are many benefits of building new, however one of the biggest is the flexibility of designing a space to function best for your current and future needs. Your lifestyle and future needs can be easily catered to in the process of designing a new home, whereas it can be difficult to find an existing home that fits all your requirements without compromise or expensive renovations. A new build can combine your imagination and budget and provide you with plenty of choice and flexibility throughout the layout, look and specification of your home.
There are also plenty of other benefits that come with modern construction and efficiency standards. This means new homes are often more energy efficient and affordable to run, whilst providing a healthier living environment. This along with manufacturer warranties, and an independent ten year build guarantee it’s easy to see why the benefits and peace of mind a new build offers.
Drawbacks:
As with most decisions in life there are both benefits and drawbacks, one of the potential drawbacks of building new is the location of new residential subdivisions. With the need for land new subdivisions are often located on the fringe of existing city areas. However with good planning and infrastructure these drawbacks can often be mitigated through developer placement of good local amenities and employment opportunities. Subdividing existing land also provides the
opportunity for sections within existing suburbs, for those with a preferred location.
Finance is another worry that people are concerned about being a drawback, however it doesn’t need to be. There are many ways in which loans can be structured to finance a new build and support your current living arrangements. These structures can mean you don’t fund construction loan repayments while you build, relieving the pressure of existing accommodation payment. A good financial advisor, who is a specialist in this field can easily advise and arrange this on your behalf.
Find the right builder. A good builder can help in all of these individual areas with insightful advice, immediately seeing things that can greatly affect a build that perhaps you didn’t know to think about. A great builder can also remove the need for an architect, engineer, planner, project manager and even a bank, leaving you a single point of contact there to inspire and provide confidence that your new build project will be the home you imagine, effortlessly.