Latest News - October
Four Good Reasons to Buy Land and Build New
When it comes to house hunting and home buying, there a lot of options to consider. Do you go for a turnkey townhome? Perhaps an established property? Or do you opt to buy land and build a brand new home? Each has its pros and cons depending on your needs. But, if you’re tossing up whether to buy land, these are the top four reasons we think you should!
More time to save
When it comes to securing a block of land in a new community, you often pay less upfront than you would to purchase an established property. Developers generally ask for relatively low deposits on new land, which gives you time to save before settlement.
A good tip for buyers looking to purchase land is to compare construction timeframes between stages in a community. This will allow you to find a block that suits your savings schedule. For example, land which has already titled will be ready to settle and construction able to commence much sooner. If you need a little more time to save or just aren’t in any rush, looking for land that will title in 6 months to a year’s time is your best bet.
Build your dream home
Going to endless open for inspections looking for the one can be tedious. This is a big reason so many buyers opt to build new – to customise the perfect home for them! Not only can building a new home potentially cost less, but you also get to have your say in the home’s design from start to finish. This makes building new a very rewarding process.
Not to mention, a brand new home constructed by a reputable builder will be equipped with the newest inclusions. Think high-quality kitchen amenities and heating/cooling features, meaning you don’t need to worry about upgrading the little things any time soon.
Take advantage of buyer incentives
For first home buyers in particular, buying land and building new is a great option due to the savings and concessions available. Stamp duty exemptions or reductions are available for first home buyers as are a range of grants. These include the First Home Owner Grant and First Home Loan Deposit Scheme – both of which are available as a supportive option to really help maximise savings for buyers.
Also most recently, the HomeBuilder Grant has come onto the scene and this is available to all buyers. This initiative acts as an incentive for new home builds by providing $25,000 grants to buyers that enter into a contract before the end of the year.
Lower ongoing costs
Buying land to build a new home means everything is just that, new! Builders will utilise the latest technology and best environmental practices to ensure the home is built to a higher energy standard. Plus, with everything newly installed, you should run into far fewer maintenance issues than you would with an established home. Not only should this save you money in the long run, but if anything does go wrong it will be covered by the builder’s warranty.
Ready to look at securing your own block at Bowery? Give us a call today to discuss your options – 0427 398 171.