Top 10 Reasons to Build a New House!

February 3, 2017

Looking for a new home or investment property can be hard work with so many different aspects to consider. We are here to make the process a little easier when it comes to deciding whether to buy land and build a brand new house or purchase an old or established home. Building a new house has many benefits and we have outlined the top ten reasons we think new builds are the better choice!

 

1. Choose your ideal / dream design

 

It’s obvious if you decide to build a new home you get to pick out what it looks like, the layout and extra amenities you need/want. This is a big plus for people who have always wanted a particular style of house or design, which they may never find in older houses or if they do, there is plenty of competition when trying to buy! With a new build you are guaranteed to get what you want and not have to worry about anyone poaching your property.

 

 

2. Lower Maintenance

 

As the house is brand new there are generally lower maintenance costs due to the fact that items should not need replacing or updating any time soon! Older properties have older materials, fixtures, appliances, etc. and are therefore more likely to need more maintenance.

 

3. Cheaper to run / energy efficient

 

With the improvement of technology over the years and a more environmental focus newer houses can be more energy efficient. This means ongoing costs are reduced, as a newer house is cheaper to run, saving you money in the long run, as well as being environmentally friendly!

 

4. Structural Guarantees & Warranty

 

A good builder will offer structural guarantees, meaning you can be certain the quality of build is high. With an old house you can never be sure of the structural stability. Warranties may also apply and with a new house this means you have the whole time of the warranty under your sleeve if anything was to go wrong.

 

 

5. Higher claimable depreciation value

 

Depreciation allowances apply on the build and even some home contents, reducing the holding costs of the property. Tax deductions can be made on assets such as the building itself, as well as the fixtures and fittings.

 

6. Command top dollar rental / higher quality tenants

 

If you’re looking for an investment property a new build could be the way to go. Newer houses command higher rental yields and the quality of tenants is usually better. The vacancy rates are often much lower, as renters seem to be keen on new builds. A new house means less maintenance so the tenants won’t have to worry about things breaking down or parts that need updating.

 

7. Choose the most suitable block for you

 

You can generally find a block that suits you best. Whether you want a bigger size for a growing family or downsizing for less maintenance there is usually something for everyone in a new development. Having different choices in block sizes enables you to build a home that suits you, your family and your budget.

 

8. Modern luxuries can be included at a lower cost

 

Things like adding an ensuite, extra room, alfresco area or even a pool to an older house can be extremely expensive. If you’re building a brand new house some of these things can be included at a much smaller cost.

 

 

9. Stamp Duty benefits

 

You only have to pay Stamp Duty on the land component when you buy a house and land package, resulting in significant savings. As the house hasn’t been built purchase stamp duty is only paid on the land, making new builds that bit more desirable.

 

10. Generally better resale value

 

With everything being new and under builder or appliance warranty, as well as featuring all the luxuries modern living demands, new builds are an attractive prospect for any buyer, therefore increasing the resale value.

 

 

 

Sources:

http://www.realestate.com.au/advice/which-is-better-buying-old-or-new-properties/

http://www.yourinvestmentpropertymag.com.au/buying-property/the-big-match-up-buying-old-or-buying-new-120105.aspx

http://www.propertyobserver.com.au/finding/residential-investment/house-and-land/29886-buy-established-or-new-arguments-for-both.html

http://www.investorassist.com.au/articles/which-investment-property-buy-new-vs-old

 

 

 

Please reload

FEATURED POSTS

Wondering if you're eligible for the First Home Owner's Grant?

1/1
Please reload

RECENT POSTS

July 24, 2019

Please reload

ARCHIVE
Please reload

SEARCH BY TAG
FOLLOW US
  • Facebook Basic Square
DISCLAIMER

While every care has been taken to ensure the accuracy of the displayed information, the publisher gives no warranty and make no representation as to the accuracy or sufficiency of any displayed description, photography, illustration or statement because all this information may be subject to change. Readers should make their own enquiries and satisfy themselves as to whether the information provided is current and should seek advice before entering into any contract. Photographs and illustrations displayed are indicative only and may not depict the final product.

Angus Estate, Monopoly Property Group

Ground Floor, 185 Fullarton Road, Dulwich South Australia 5065  
info@monopolypg.com

1800 777 674

  • Wix Facebook page

Disclaimer: While every care has been taken to ensure the accuracy of the displayed information, the publisher gives no warranty and take no representation as to the accuracy or sufficiency of any displayed description, photography, illustration or statement because all this information may be subject to change. Readers should make their own enquiries and satisfy themselves as to whether the information provided is current and should seek advice before entering into any contract. Photographs and illustrations displayed are indicative only and may not depict the final product. RLA 272857