Buy vs build your first home: which is the right option for you?
When you start to think about owning your first home, there’s a lot of different points to consider. One of the more challenging questions to answer is whether buying established or building new is the right choice for you.
Is it better to purchase an established home that may need some renovations, but at least you can move straight in? Or is it worth delaying the move timeframe to build a brand-new home that reflects your lifestyle and needs?
We asked our expert team of New Home Consultants to run through some reasons why you should chase your dreams and build your first home.
Building a new home means you can choose THAT floorplan – the one you first fell in love with.
Finding the right floorplan in the right location can mean significant and expensive renovations to have the home looking exactly how you like. Not to mention the huge amount of time you can spend scouring the different suburbs – both online and in person. By building new you can forgo the meticulous search for the ideal established home and instead put your energy into designing your dream abode straight from the get-go.
After looking at the established market, most people quickly realise that they’ll need to compromise in areas that are important to them – whether it’s a lack of a second living space, not enough bedrooms, a rundown bathroom or a kitchen layout that isn’t suited to entertaining or family needs.
But remember, building new is a more time intensive option than buying established because you can’t move in right away. If land is a consideration, you may also be able to find a larger lot by looking at established properties.
Save money on upkeep costs with a new home
A new coat of paint is one thing – setting off your smoke alarms every time you turn on the oven is another. With a new home, you can avoid many of the unexpected costs that come with an older, established home.
By crunching the numbers, you can find that it’s cheaper in the long term to build a brand-new home that has the advantage of modern technology and durable materials.
Reduce energy costs by building a new home
It can seem like the buzzword environmental sustainability is everywhere right now – and for good reason. As part of the ABN Group, we’ve been building homes for over 40 years which means we keep up with all the latest improvements in building know-how and tech so you don’t have to.
Besides being able to choose the right design for you, building a new home also means that you can potentially reduce the total amount of your energy bills. As part of our standard inclusions, when you build with us, you’ll also receive insulation to help achieve the required minimum star energy rating.
Give yourself peace of mind with a structural guarantee and service warranty
Okay, so you’ve completed a thorough inspection of an established home before signing on the dotted line but there’s no guarantee you won’t run into problems 3-6 months down the track.
Our homes come with a minimum 25-year structural guarantee, giving you extra peace of mind. We also offer an industry-leading 12-month service warranty, while your new home ‘settles’ in.
It’s nice to know that any minor cracks or issues will be fixed promptly during the first year, so you can enjoy your new home!
Invest in your future
Building in a new and growing estate is often more affordable than buying in established suburbs. Plus, being one of the first homes in a new estate could be a great investment on your home owning journey as there are potential tax saving opportunities available when building a new home.
Click here to learn more about available first homeowner’s grants.
Are you considering building a new home?
Fill out the below form and one of our New Home Consultants will be in touch to help find the right option for you.