The ongoing debate between buying land and building your dream home or purchasing an established house is an important consideration for every homeowner, especially those on the brink of making a purchase. As you embark on the home-buying journey, the first major decision you’ll encounter is whether to buy land in your preferred location and build a home from the ground up or to go for an existing house that may not tick all your boxes. Both options come with their own pros and cons so here are a few key factors for you to consider:
The benefits of buying land and building a new home.
Location
Choosing to build allows you to select a block in the location you love. Whether you choose an elevated position with stunning views, or a flatter block, perhaps alongside a creek, your home will become an integral part of the landscape, offering the ideal lifestyle for your individual needs. When selecting your block remember to look at things that will be important to you in the future – things like parks, reserves and playgrounds, proximity to amenities, public transport, shops, cafes, schools and a strong sense of community. Have a read of our Complete Guide to Buying Land to assist you with choosing the perfect block of land for your dream home.
Customization
One of the most compelling reasons to opt for building on vacant land is the ability to craft a home that perfectly aligns with your lifestyle and your individual style. Unlike purchasing an established home, which may require renovations to match your taste, building allows you to design your own home exactly as you want it. From the layout and room sizes to the selection of materials and finishes, every detail is a reflection of your unique vision and personality. You are far more likely to be happier in the long term, and for many people, this is reason enough to build new rather than purchase established.
Environmentally-friendly
Building a new home also allows you to incorporate the latest advancements in energy efficiency and technology. By investing in eco-friendly materials, solar panels, energy-efficient appliances and smart home systems, you have the opportunity to create a home that’s technologically savvy, providing long-term savings on energy costs while reducing your environmental footprint. Building a new home can also contribute to a healthier living environment as older homes may harbor issues like asbestos, lead paint, dampness, or mould. By opting for a new build, you ensure a safer and more secure living space for you and your family.
Sustainability
Building a new home with sustainability in mind involves incorporating eco-friendly practices and technologies to minimize environmental impact and promote energy efficiency. This includes thinking about natural ventilation, effective heating and cooling, insulation, air filtering, renewable energy, water-saving features, and even living or green walls. By integrating these in your new home it can be designed and built with sustainability at its core, creating a living space that is environmentally conscious, energy-efficient, and saves you money on energy bills.
Potential Cost Savings
While the upfront costs of building a home may seem daunting, it’s important to consider the potential cost savings in the long run. New constructions often come with warranties on appliances and systems, reducing the likelihood of major repairs in the initial years. Plus, energy-efficient features can lead to lower utility bills, contributing to ongoing financial benefits. Stamp duty savings is another consideration as purchasing vacant land means you will pay significantly less stamp duty compared to an established home, offering another financial advantage. Plus, if you’re a first home buyer, there are a host of other cost savings available too.
Satisfaction Guaranteed
Building a new home brings a sense of satisfaction that goes beyond the construction process. From the thrill of the design process to watching your dream home take shape, there’s a level of joy in seeing your vision come to life, as each room, and every carefully chosen detail now reflects your taste and style. The satisfaction you’ll feel in creating a space that genuinely suits your lifestyle, and the anticipation of the life that will unfold in the years to come, makes building a new home totally worthwhile.
The alternative of buying an existing house
Opting for an established property over building a new home can be a pragmatic choice for various reasons. Buying an existing property often means immediate occupancy, saving time and eliminating the uncertainties associated with construction timelines, however, you may need to compromise or spend money to renovate as you will have little control over the house design and layout. Established homes also frequently come with mature landscaping which can make it difficult and costly to update to your taste.
Financially, the overall costs of buying an existing property might be more predictable than the potential variables of construction budgets and unforeseen expenses, however, if you envision the property as your forever home, you might be willing to invest a bit more upfront to build a home that ensures that your future living space aligns perfectly with your needs.
Choosing an established property can offer a convenient, cost-effective alternative for those seeking a quicker and more straightforward path to home ownership but it may not fulfill the desires of those seeking a distinctive, energy-efficient home that truly reflects their individual style.
There are numerous benefits to building a new home, from the flexibility of design to being able to integrate the latest energy-efficient technologies providing cost savings and a healthier living environment, plus the decision to build promises to be a rewarding experience.
While the decision between building and buying an established home has its nuances, the advantages of building stand out for those seeking a space that reflects their individual style and lifestyle. Building a home presents a clear opportunity to create a truly unique residence, making it an appealing choice for prospective homeowners.
Choosing to build at Newenham not only offers the opportunity of building your new home on a premium block of land in a beautiful pocket of the Adelaide Hills but also opens the door to an amazing lifestyle. As a resident, you’ll be warmly welcomed into the thriving Newenham community, where you can take part in events, workshops, and neighborhood get-togethers that have shaped our tight-knit community. Being only 2km from the town centre and the main retail, dining and business district, Newenham is the best located and most accessible estate in all of Mount Barker. From the larger allotments, focus on natural open spaces and active lifestyles to the Kitchen Farm, café and produce store, living at Newenham is something truly special.
If you’d like to know more about joining the welcoming community at Newenham, simply call our Sales Team on 0429 107 497 or visit the Sales & Information Centre at 164 Flaxley Road, Mount Barker – click here for open hours.
Come and see for yourself why you’ll love living at Newenham.
