This post is sponsored by Coral Homes
5 Reasons Building Your Home is Better Than Buying
New homes change lives and the experience of building a dream home from the ground up is an exciting prospect that brings many benefits. Many potential home owners weighing up building and buying, question whether it makes more sense to build new or buy an existing home. Our advice is always to weigh up all your options, carefully cost all involved, and then have a good hard think. Below though are five reasons why we believe building is better than buying.
New Homes Are Based on Individual Design Preferences
One of the most exciting features of building your own new home, is getting it the way you would like it. You deserve to have the home you’ve dreamed about. A potential problem with existing homes, is that you are rarely able to have the home you’d really like.
When you are building your home, you have the flexibility to design your home as you wish it to be. Imagine the possibility to being able to design a home that fits perfectly with your families individual requirements.
New Homes Mean Little Maintenance
Currently renovating an old Queenslander has really highlighted this to me. The beauty of a new home, is the lack of maintenance, at least for the first several years, where unlikely repairs are usually covered under warranty. Older homes come with no warranties and are often accompanied by a lengthy to-do list. A new home by contrast, is completely ‘turn-key’ ready, all you have to do is move in.
New Homes Mean New Technology
A newly built home is fitted with the latest in building technology and equipment. Whether it’s the latest in fixtures or fittings, materials or energy efficient designs, homeowners will benefit from the latest technological advances. There is the potential to include solar hotwater, LED lighting, self-cleaning surfaces and fancy USB power points, even the possibility to include AV and data wiring built for todays needs of technology and power usage. New homes often have a lower carbon footprint, with better insulation and other energy saving features, that can also have the potential to save on ongoing operating costs.
New Homes Qualify for Financial Benefits
In many locations, generous government grants apply for newly built homes whether built on your own land or as a part of a home and land package through builders such as Coral Homes. There are also usually many tax depreciation benefits that apply to new homes, as well as stamp duty concessions that may be available. Do your research and see what benefits you can enjoy.
New Homes Can Have Superior Investment Potential
In many cases, new homes can offer greater investment potential as they are easier to sell and or rent. If you are looking to maximise the value of your asset, it can be easier to recoup the costs of your investment in a newly built home. New homes usually command higher rental yields than a comparably sized home in the same area.
Ultimately, deciding whether to build or buy is a decision that needs to be made based on your own individual situation. Take time to research the costings and time involved and carefully consider your options before committing to one. These are just a few of the reasons why building can be more beneficial than buying, but depending on your situation, there may even be more.
Did you build or buy your home? Would you like to build a new home?
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