Anyone considering buying a home should also think about another wonderful alternative – building a house. Building a home has plenty of benefits as compared to when you purchase one from a broker or a developer. Let’s take a look at some of the main benefits below!
More Value for Price
Purchasing a home from a broker comes with a higher price tag than what you are likely to pay for building your own home. It is said that you can save up to 25% just by having a self-build home instead of a purchased one.
This case is especially true for situations in which you are considering purchasing a second-hand home. The latter option may not be as well-maintained so you will spend more money updating and improving your second-hand home.
Built with Personalization
Your built home is going to follow the layout of your choice. This means that you will not need to incur costs from renovating an existing house!
You are in control of everything in your home – floorplans, light fixtures, electric sockets and more. What is not to enjoy about all these customizations? It’s fun choosing from the options available to you.
Similar Community Lifestyle
Usually, building your own home would mean that you own a piece of land to build it on as well. Your neighbors are likely to be in the same boat. Everyone would have their unique home design, leading to a design home village when the homes are all complete.
In this community, you can expect to enjoy plenty of facilities and amenities in the area, including transport, healthcare, recreation and more. It is the dream community to live in.
Improved Finance Management
If you can build a home for less than purchasing a second-hand home then the amount of money you may have to borrow to pay for your home will be less. As a result, mortgage repayment will be less and so the debt burden will not be as substantial.
Helping with your Local Economy
Building a home from scratch is by no means an easy task. When you take on this project, you involve a workforce from your local area – builders, contractors, electricians and the like.
Think of this as boosting the economy within your local area. Depending on your location it can often be tricky to get local tradies to turn up so ensure you are confident of the reliability of those you hire to complete your home.
Word of mouth from other locals will help you choose who best to use. You do not want to be waiting for months for workmen to turn up and so delay the completion of your house.
Receiving Government Assistance
When you purchase some land to build your home on, you are getting some benefits that many other homeowners might not be able to attain.
As an example, you will have smaller stamp duty and gain access to the First Home-Owner Grant, which can amount up to $750,000 for newly-built homes. That’s going to help quite significantly to say the least!
New Knowledge
Renting a home requires you to submit some documents, sign a lease, and that’s about it. Building a home meanwhile would take you on a whole new journey.
You’re going to be learning a lot about how things work – plumbing, electricity, building, and construction. As well as dealing with building permits and negotiating prices with suppliers and tradies.
When you have this knowledge, you will be much more familiar with your home and its inner workings. The completion of the project will give you a wonderful feeling of satisfaction and achievement.
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