Some people know they want to buy an existing home and others know they want to build. But sometimes you won’t know which is best for you as both building your own or buying existing can both have their advantages.
Pros of Building a New Home
Modern design
You will have full control of the appearance of the home. You won’t have to worry about any daggy 1970s or 1980s style choices.
You can customise your home.
Most builders will give you a choice of all kinds of colours and designs for most elements on the inside and outside of the home.
Structural guarantees
Many builders will offer some kind of structural guarantee on the structure of the house. If anything starts break in an older house, you might be out of luck or your insurance might cover it. Ideally, the builder will sort this out for you.
That new home smell
This is probably lack of a smell, older homes can smell lived in, either the scent of pets, or cooking can really make a house not smell like home.
The Cons of Building a New Home
Time Delays
If you are building in a big new estate, you can often face several years of delays on the titling of your land. This is generally due to the developers and local council and not the fault of the builder. Builders are generally keen to get started as quick as possible, as that is what gets them paid.
These time delays can cost you a lot if you’re currently renting. Depending on how long titling is delayed, it might also affect the build cost.
Block Sizes
New estates across Australia keep squishing the block sizes smaller and smaller. Soon you’ll have no choice but to build two-storey houses if you want more than 2 bedrooms. Backyards are becoming smaller and smaller too.
If you have somehow snagged a block in an older area or are doing a knockdown rebuild, you can build something bigger or still have a decent sized yard.
Hidden Costs
There will often be extra costs that pop up. Be aware of which bills you will need to pay yourself during the building of your home. Some contracts will cover the electricity usage during the build, others will not. Typically you will need to pay for the water bill as it will be in your name from the start.
