The benefits of building a new home versus buying an existing home
When you build a new home, essentially you’re creating a brand new living environment from scratch that is uniquely yours, based on the lifestyle you desire and on the functional needs of your family, and seeing this dream through to a reality. There are whole a host of benefits that come with building a new home, and here we have outlined just some of these.
The feeling of moving into a home you’ve created!
This is the most exciting aspect of building! You get to move into a home that’s truly yours. Everything is exactly as you want it, everything is brand new and everything is tailored to you. Every colour, every product and every light fitting has been chosen by you - so you know it’s going to be perfect.
Save on stamp duty
When you purchase an existing home, you have to pay stamp duty on the value of the entire property, whereas when you build, you are just paying stamp duty on the land component. This can save you thousands of dollars.
Building new can actually cost less
It seems unbelievable, but can be true. Depending on the cost of the land, building a new home can end up being cheaper than buying an existing property.
No need to renovate
Renovating can be an exhausting process and one that can easily blowout time frames and budgets. Building a new home allows you to tailor everything to your needs from the outset so you won’t have to experience the fear of the unknown that is assicated with undertaking renovations to get things just right.
Fixed price contract
Reputable builders like Coral Homes will give you an all inclusive, fixed price contract, which includes the cost of your home and any site works required for your block of land. This way you can enjoy the building process without having to worry about any unexpected costs popping up down the track.
Customise your plans
Most builders will allow you to alter their standard floor plans to suit your lifestyle. This includes changing the size, configuration and position of certain areas in the home to suit your specific needs. It gives you a great opportunity to put your stamp on your new home and make sure it fits your lifestyle perfectly.
First home buyer incentives
There are substantial government incentives on offer for first home buyers who build a new home in Queensland or New South Wales. In Queensland, first home buyers are entitled to a $15,000 grant, and in New South Wales there’s a $10,000 grant. With benefits like this available, it’s no wonder building a new home is becoming more and more attractive for those looking to get themselves onto the property ladder.
New home warranty
Legislation protects new home owners with a new home warranty which covers you in the unlikely event of a contractor failing to complete a job, defective work or building subsidence. The warranty period is for 6 years in Queensland and 7 years in New South Wales.
For more information on the benefits of building a new home, or to start looking for your dream home, please contact your nearest Coral Homes display centre today.
Subscribe here for the latest information from Coral Homes