Are There Benefits To Building Your Own Home?
Buying a new home is a thrilling and exciting time, but it's also important that you understand exactly what it is you're signing up for when you sign the contract with the seller. If you're considering building a new home instead of buying an existing one, for instance, there are quite a few benefits that might help reassure you that you're making the right decision.
Government Subsidies Definitely Don't Hurt
Depending on the price of your home, if you're building it from scratch, you could be eligible for up to $10000 from the First Home Owners Grant. This grant can be a significant boost for your deposit, helping you get a contract signed sooner, so it definitely shouldn't be ignored. While you're eligible for this grant in NSW so long as you haven't owned a property of any variety in Australia before and the home you're building and the land you're buying is valued less than a combined $600000, the grant requirements are different in other states, so make sure you check with your local government if necessary.
Building a new home also helps you avoid some government fees, as you will only need to pay stamp duty on the land you're buying, not the house you're building. While not available in NSW, other states, such as QLD, even wave stamp duty entirely if you receive the First Home Owner Grant, so it is again best to check your local government's guidelines and offerings.
One Dream, Barely Used: Selling For A Modest Fee
Building your dream home may actually be cheaper in the long-run than paying for someone else second-hand dream, too. When developers begin to build up an estate, they need to reach a certain number of sales before work can begin, so if you swoop in early, you might be able to buy a home at a significant reduction. Since you'll be buying a home that hasn't been built, either, you'll also be able to make some level of alteration to the existing plans, helping make sure your home is uniquely yours and meets your specific needs.
Modern Day, Modern Design
Older homes can generate tonnes of greenhouse gases each year, which not only harms the planet, but is also an indicator that your energy bill is likely to be higher than it strictly needs to be. Modern homes utilise new design techniques, such as passive design, to help cool your home in summer and warm it in winter without you needing to reach for the aircon remote, keeping your bills lower and helping preserve the environment.
Get In Touch With A Master Draftsman For Help
If you're not certain about whether you'd like to build a new home or purchase an existing one, it can help to speak to someone with experience. Here at Go Design Solutions, we've been designing homes for years, and we're familiar with the challenges of building homes in our region. To see how we can help you with all drafting in Penshurst, you can check out our portfolio, or call us on (02) 8091 0588.