Is Building Your Own Home More Affordable Than Renting?

Is Building Your Own Home More Affordable Than Renting?

While building your home can seem like a big cost to most families, you may be better off in the long run. A Queensland couple recently made headlines for saving $30 a week by building their own home. While that might not seem like a significant amount, it adds up to over $1,500 a year. So, how did they do it, and how can you do it too?

In Melbourne’s current housing market, owning a home can seem like an unattainable dream for many. The median house price in the city is over $1 million, and renting can be just as expensive. However, there is a way to save money and own your own home: building it yourself.

Building your own home can be cheaper than buying an existing property because you have more control over who you build with and can stay within your budget. Most volume builders have fixed site costs as well as other incentives like free upgrades or landscaping.

When you build your own home, you can design it to be energy-efficient, which can save you money on your energy bills in the long run. You can install solar panels, double-glazed windows, and insulation to reduce your reliance on heating and cooling systems.

Building your own home allows you to take advantage of government incentives, such as the First Home Owner Grant and the HomeBuilder Grant. These incentives can provide a significant financial boost, making it easier to afford your dream home.

When you build your own home, you have the opportunity to build a home that meets your exact needs and desires. You can choose the number of bedrooms and bathrooms, the layout of the home, and the finishes and fixtures. This means you won’t have to compromise on your living standards, which is a common issue when renting or buying an existing property.

Of course, building your own home isn’t without its challenges. It can be a time-consuming and stressful process, and it requires a significant financial investment upfront. However, for many people, the benefits of building their own homes outweigh the challenges.

If you’re considering building your own home in Melbourne, Ortus Cranbourne East has final lots available now! Contact us or call 0499 940 120 to secure your piece of Ortus today.

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