New vs. established homes: The benefits of building new
A home is usually the single largest investment that a person will ever make. Most buyers end up spending lots of time and energy either searching for or designing “the perfect home” before signing any contracts. Location, price, market trends and the condition of the property are all factored into the house hunt.
While the homebuying process involves a number of important choices, one of the very first decisions buyers need to make is whether to shop around for an existing home or build a brand new one. Each path has its own advantages and disadvantages, but here’s some of the main reasons why you should buy or build new.
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More likely to get what you want
For many homebuyers, this factor alone is enough to choose building over buying. There’s nothing better than the feeling of moving into a new home that you’ve built and is uniquely yours. Building new gives you a blank slate to work with and you have the flexibility to customise certain things to suit your needs. You can ensure everything is exactly as you want it and will match your lifestyle.
Pay less 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 only have to pay stamp duty on the land component. By paying for only the land as opposed to both the house and land, you can save thousands of dollars.
There are substantial government incentives on offer for first home buyers who live in Australia. In WA, first home buyers are entitled to a $10,000 grant under the First Home Owner Grant Scheme to go towards the purchase of a newly built home. With benefits like this, it’s no wonder building a new home is becoming more and more attractive for the people of Perth who are looking to get themselves onto the property ladder.
No need for renovations
When you build new, there’s no need to renovate, which can be an exhausting and expensive process as one can easily blow out time frames and budgets. Building new also allows you to tailor everything to your needs from the outset, so you won’t have to experience the fear of the unknown that’s associated with undertaking renovations.
New homes require fewer repairs and less maintenance, which save you both time and money. They also come outfitted with new appliances. New homes also tend to be more energy efficient when comparing them to older and established homes as a result of being constructed with the most up-to-date materials, saving you money on your energy bills in the long run.
Higher level of satisfaction
Money and features aside, building a brand new house can lead to a level of satisfaction that can’t be achieved through buying an existing home. There’s a greater sense of pride moving into a new home you’ve created yourself – this is your creation that matches your style and personality.
Working with a reputable builder
At Now Living, we’re backed by BGC and we live to help by taking the hard work out of getting you in your new home. Our house and land packages start from just $285k* and come move-in ready with all-inclusive siteworks and no hidden costs. To remove the uncertainty of buying your new home and ensure you love your home from the day you move in, we will provide you with your own Now Living Expert to help you navigate the process from start to finish.
If you’re interested in buying a brand new home from one of the most reputable builders in Perth, contact Now Living today.
*Terms and conditions apply.