BENEFITS OF BUYING NEW!
An age old debate within the property and real estate industry is whether it is best to buy an established home or build your own. Of course this depends on individual circumstances but we think there are some amazing benefits from building new! Let’s take a look at different scenarios that would lend to building new rather than purchasing established property.
1. FIRST HOME OWNERS: building new provides first home buyers the opportunity to secure government cash incentives in the form of the First Home Owners Grant. The offer differs from state to state, but this combined with concessions such as reduces stamp duty can making building brand new affordable for first time buyers.
2. INVESTORS: building new and utilising the property as an investment home can allow investors to claim depreciation quite rapidly over the first few years which is a good tax benefit for investors to take advantage of.
3. THE GROWING FAMILY OR DOWNSIZER: building new can provide the growing family or downsizer the flexibility to cater specifically for their own individual needs while also reducing general living costs. Maintenance costs are minimal in the first few years and new homes are more energy efficient reducing energy costs.
There are more financial incentives for building new besides tax and government incentives and reduced living costs including the fact that there is less competition for buying land so this can assist in driving costs down. Any issues or defects are generally covered under warranty with a new home rather than established where it is often difficult to really assess what needs to be done during inspections.
The big draw card for building new though is the freedom it offers. Imagine having the opportunity to decide your floorplan and design, how your new home functions, what materials you use, the colour scheme and the way your home sits on your block of land. Adenbrook Homes even provides a free colour and interior design consultation so you get to really experience that new home build.
While buying established can have its perks, we think building your own home is something everyone should experience in their quest for achieving the Great Australian Dream.
WHAT WE LOVE ABOUT BUILDING NEW…
• Government incentives, tax benefits and concessions
• Cost savings associated with less competition for land
• Reduced maintenance and energy costs
• Warranty and defect cover
• Freedom and flexibility to suit your own lifestyle and taste
