If you have started the search for a new home, you are probably weighing up whether to buy an established property or to build your own.
There are many great reasons to embark on the journey of building your own home. We will look some of the advantages of taking this course of action.
You Can Make It Your Own
Building your home yourself means you can have exactly what you want- a home designed to meet your needs exactly, rather than the compromise of buying something already on the market. You will have the satisfaction of knowing that your home is being built especially for you.
Government Assistance
The government has a number of financial incentives in place to help people building their own home, in order to support the economy and boost the construction industry.
You may be eligible for the First Homeowner’s Grant. This grant is available for properties that are less than five years old.
Other incentives such as the First Home Loan Deposit Scheme and the Family Home Guarantee are still available
Another bonus- you won’t pay stamp duty in Victoria for properties valued at $600,000 or less, and a concession on stamp duty applies to properties valued between $600,000 and $750,000.
Tax Benefits
Is your new home being built for investment purposes? If so you can claim depreciation of the property and its fixture and fittings over a number of years with a tax deprecation schedule.
A tax depreciation schedule will reduce the amount of tax you pay and free up cashflow.
Only a quantity surveyor can prepare this type of report.
Find out more here
Energy Efficiency and Better for the Environment
New homes built in Victoria must comply with a set of standards for energy efficiency. These relate to insulation, external glazing, sealing, services and ventilation.
These requirements aim to reduce the environmental impacts of energy consumption and water usage.
So, you will have double advantage of lower energy bills and knowing you are doing your bit for the environment.
Stay In Control Throughout The Build
When you build your own home, you have a lot more control and knowledge of the home’s construction than if you buy an established home. This starts with the contract between you and your builder. If you have not dealt with a home construction contract before, we can help.
At each stage of the build, you can see if your home is being built correctly and to the agreed standard. These inspections – which should be carried out by an independent inspection company – are conducted at each important juncture of the build – base, frame, lock-up/pre-plaster, fixing and then the final inspection which takes place just before you are given the keys to your new home.
In addition, your building contract will stipulate a maintenance period, within which your builder must rectify and issues and defects. These can be identified with an independent maintenance inspection.
So there you have it – just a few reasons to build or buy a new home.
Starting on a new home journey but not sure what to do first? Give us a call.
We are the new home construction inspection experts, working throughout Melbourne, Geelong and Central Victoria.
Our qualified, experienced inspectors conduct the following stage inspections:
- Contract Review
- Base Stage
- Frame Stage
- Lock-up/Pre-Plaster Stage
- Fixing Stage
- Final (Handover) Stage
- Maintenance Inspections
We can also assist with VCAT reports and expert witness if you find yourself in dispute with your builder.
We can offer a discount to clients to book a package of four or more inspections -just ask when you call to book.
Are you ready to book?
Our booking office is open from 9am to 5pm, Monday to Friday.
Call 1300 071 283
Email info@thehomeinspectionhub.com.au
Ask us for a free quote or sample report today.
