Why Building is Better than Buying

When looking for a first home, the process can be daunting. There are many homes to view, many compromises to make, and work to do after moving in. Some people begin to peel off wallpaper so they can paint. Other buyers convert the spare bedroom into an office.

Why Purchase?

Buying a home only to alter it to suit the needs of the family does not make sense. Money is spent on the actual purchase, and then more is spent on making the space suit preferences and needs. Families should have to adjust their tastes and activities to a new home. A new home can be constructed to accommodate activities, routines, and needs.

Building a first home means it can be the perfect size, have all the desired rooms, and be move-in ready after completion. Experienced home builders will have several floor plans from which to choose, along with upgrades and options to make the space a dream home. Add a home theater, a game room, a study/workroom, or alfresco space.

Savings Opportunities

Most grants, incentives, and special offers that apply to first-time home buyers are also available for building projects. Depending on where the family wants to build, the location selected can create a substantial amount of savings. A perfect example is Western Australia (WA). First-time home purchases or projects means people can apply for a ten-thousand-dollar grant from the government.

Extended low-interest rates are offered for new builds. It is also possible to get a Stamp Duty exemption. The Stamp Duty tax is paid during the transfer of land or property and can cost almost one-thousand dollars. Another government program, called Keystart, offers low deposit home loans and requires no lender mortgage charges. That saves families between eight and ten-thousand dollars.

A combination of grants, exemptions, and fee waivers can save a family twenty-one thousand dollars off the cost of building a home. Added savings are enjoyed via the low interest rates for those who have a new home built. Those savings and the chance to move into your dream home makes building a much better option than buying that first home.