Top Five Reasons First Home Buyers Choose to Build New

Top Five Reasons First Home Buyers Choose to Build New

Getting on that property ladder and into your first home is a big deal. Huge! To make matters trickier, there are a few options for home buyers to consider, for instance: should you buy an established home or build new?

Either option could be a good choice when dipping your toe into the market for the first time, and each has its pros and cons. However, for those who want a dream home that’s the perfect fit for their family, building from scratch is probably the way to go.

Here are the top five reasons why first home buyers choose to build.

1. There are financial incentives and savings on offer

Building in a new and growing estate, like Ortus, is often more affordable than buying in established suburbs and could be financially lucrative for both families and investors.

For first home buyers, there are various government grants and concessions available, depending on the state you’re in. In Victoria, buyers can apply for the First Home Owner Grant (FHOG). This provides a $10,000 rebate for new homes valued at $750,000 or less.

Victorian first home buyers can also take advantage of stamp duty exemptions for property valued at $600,000 or less. Or a 50% concession for property between $600,000 and $750,000. Combined, these incentives can shave tens of thousands of dollars off the total price, making a big difference to first-time buyers.

2. You can create your dream home

Another highly appealing reason to build new is that you can completely customise your floorplan to suit your needs and taste! Need a dedicated home office space? Or a separate theatre room for the kids? You can choose a home design that perfectly suits you and your lifestyle.

Even the land you build on can be to your specifications, from price to size and even orientation. You’ll also get to make the decisions on where you’re injecting your money, whether that be a bathroom, the number of bedrooms, or the kitchen finishes and appliances.

3. There are easy ways to make go green

Another attractive factor, especially for young environmentally-conscious first home buyers, is the fact that you can build a home that’s better for the environment — and reduce your utility bills too!

In Australia, new home regulations mandate that new builds be energy efficient. Typically, this means smarter home designs and better insulation. Plus, there are often offers available to home buyers, like the Victorian Solar Panel Rebate which incentivises making your home as eco-friendly as possible.

You might also want to consider installing additional water tanks for irrigation, adding extra insulation, or having double-glazed or tinted windows for energy efficiency. Not only are these additions good for the environment, but they also reduce the everyday running costs of your house.

4. New home warranties give peace of mind

One of the concerns people have about building is you can’t see and touch your house because it doesn’t exist yet. However, with an established home, while you’ll conduct a thorough inspection before signing on the dotted line, there’s no guarantee you won’t run into problems three to six months down the track.

When you build new, you’ll enjoy the benefit of builder warranties, meaning everything is covered for a certain period. Many new home builders offer a set structural guarantee, along with a service warranty, which often covers any minor fixes or issues that might arise in the first year or so after you move into your new home.

5. You get to enjoy that new home feeling

Finally, the satisfaction of building your dream home and moving in is an unbeatable feeling.

There’s something special about knowing you’ve chosen everything and made all the personal touches. Plus, you know it’s never been lived in before and there won’t be any hidden surprises or extensive maintenance required, and that’s something that you just can’t replicate in an older home.

If building sounds like the right path to get your foot on the property ladder, get in touch with the Ortus Sales Team on 0499 940 120 to discuss current land and townhome opportunities in our Cranbourne East community.

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