Four Major Benefits of Building a New Home

It’s the age-old home buyer question⁉
Is building a new home the right move or is spending your money on an existing home the better option? 🤔

We thought we’d take the opportunity to look at the benefits of building a new home over buying an existing property.

1 -It’s Yours ☝

The satisfaction of moving into and owning a home that by all definitions is truly yours is incomparable. Building a new home allows you to have the home of your dreams.

2- Stamp Duty 

Stamp duty is a tax paid to have a property transferred into your name. As opposed to paying tax on the total value of the property when buying an existing home, you only pay stamp duty on the value of the land when building.

3- It’s Brand New 🤩

Renovations can be a costly and strenuous task. If you choose to build, everything in your home is brand new, with that come warranties on inclusions and craftsmanship.

4- Government Grants 🤝

The Australian Government offers a First Home Buyers Grant.
The benefit here in building your home is that the home must be new and not have been previously lived in to receive the grant.
Alongside this incentive, the Australian Government also offers the First Home Buyers Assistance Scheme. This entails full or partial exemption of the previously mentioned stamp duty. With benefits like this available, you can potentially save more money again.