Reasons to Build Your Home

Whether you’re planning a knock down rebuild, buying a house and land package from a developer or ordering a kit home, it can be difficult to decide whether building is the right choice for you.

Benefits of building a home

  • You can choose the model and layout of your home, then work with the builder to tailor each room to your needs – from the floorplan to the lighting fixtures and tap fittings.
  • You can research the builder’s track record and monitor the construction closely, so you know the kind of quality that has gone into building your home
  • There is often a warranty on your new home, giving you a guarantee on the quality of the building.
  • If you’re buying land at the same time, your new home may be built in a planned community, with other people in a similar situation. Planned communities often have recreation, retail, transport and healthcare facilities with safe roads and pathways, giving you access to services you may need now and in the future
  • When your home is finalised, you can move in straight away and won’t have to wait for tenants to move out or deal with damage from previous owners.
  • A new home will have all the latest construction techniques, modern materials and environmentally sustainable elements that may save you money down the track. These may include lighting, planned workspaces, entertainment areas, insulation, and efficient heating and cooling
  • You can choose the features of your home according to your budget and won’t need to spend as much on repairs and maintenance for many years
  • If it’s your first home, you may be eligible for government grants in some states, such as the First Home Owner’s Grant
  • There may be financial benefits for buying off the plan that give you more time to save a deposit.

Things to consider

  • New homes may cost more than older homes and are sometimes built on small parcels of land
  • You may need to consider the costs of paying rent while your home is being built
  • There can be unexpected costs discovered in the initial site preparation, or dealing with issues not covered in your building contract
  • Many packages don’t include the high quality finishes you would like, which means you’ll need to pay more for anything other than the bare basics
  • You’ll need to monitor every aspect of construction to make sure the contractor and tradespeople stay on budget and deliver a high-quality result
  • There may be delays with building due to bad weather and other unavoidable factors.

Article by: COMMBANK Australia

Photo Credit: Emily Griffith Technical College