Amazing Benefits of Buying Land and Building Your Home from Scratch
10 January 2023Whether it’s your first home or another property investment you want to add to your portfolio, you’ll undoubtedly wonder whether buying land and building a home from scratch is less expensive than buying one already completed. In most cases, purchasing a plot of land and building a house will be less expensive than doing so, and it also presents a lot of amazing benefits as follows:
It’s a Cheaper Option
It is impossible to pinpoint the exact amount by which building a home would be more affordable than just purchasing one already built. It is due to the fact that a variety of factors, such as the property’s location, the cost of land preparation at a specific site, the cost of building materials at a specific time and place, delayed timescales, property taxes, stamp duty exemptions, and a host of other considerations, can affect costs. Not to mention that even when a house has the same square footage, people can have very different tastes when customising it, which can also affect cost.
Ease of Access to Financing
Building a home is often the preferable choice for many people, not only because it is less expensive but also because financing is simpler to acquire. Since acquiring vacant land is cheaper than a finished house, getting a mortgage is easier in the beginning. This lower level of finance is more accessible to more individuals than the hundreds of thousands more required for a completed house. Later, they can choose to apply for a building loan or delay starting the project until they have raised additional money. All this without being concerned that they may be outbid for the land.
Offers Limitless Customisation
When you create a home from scratch, you can customise the design to your preferences. It is because you have a say in every decision, right down to the location and size of the plot of land. You get to pick the house design that you like best, along with the materials, fixtures, and appliances you want. At every level of the build, decisions are made with your input.
Building a Home Means That Everything Is Brand New
When you build a home, everything is brand-new, and you will be the first person to live there. As a result, you have more faith in your investment and are reassured that you won’t have to worry about maintenance and repair difficulties in the future. More so when it comes to components that, in older homes, can be fairly expensive to replace or upgrade, such as the HVAC system, plumbing, and wiring.
Ensures Energy Efficiency
It is one of the advantages of customisation, too. When you construct a new home, you can benefit from cutting-edge designs and technology that will make running your house more efficient. Your home will use less energy to provide your family with a comfortable living space if you follow updated energy codes and requirements for HVAC systems, air filtration, double glazing, and insulation. Lower utility bills and the knowledge that you contribute to environmental protection result from this.
Are you ready to build your home from scratch? RMP Builders Melbourne is a residential, commercial, and industrial builder and contractor in Preston, VIC. Our building services include new luxury homes, multi-unit developments, extensions or renovations, commercial and industrial, and project management. Contact Us today for all your building needs. You may also Visit and Like our Facebook page.
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