Planning a dream home? If so, you will be left with two wonderful options- i.e. either buy an existing custom home or build a new home as per your plan. This may seem quite daunting to decide. Statistics reveal that the cost of buying a customised single-family house was around $223,000 in Aug 2019. Is it cheaper to build a home or buy a custom one? Which can be a better investment? If you’re confused to make the decision; here are some insights to help you proceed with dream home journey.

Building A home

The cost of buying a new home in Melbourne may be high and wildly vary from location to location. However, you might be surprised to know how much you can save when you plan to build your home. Yes, you read it right. When building your home, all your wants and needs are thoroughly met by a custom home builder and the custom home builder may give numerous home plans and discounts to attract buyers like you, where you will get exposed to options that fit under your bill.

There are many perks associated with building a home and they are

  • When building a new home, you get to install everything new. Also, there will be less air filtration, more insulation, and better HVAC equipment to lower energy consumption, and increased comfort than an already existing home.
  • You can also implement your home design and style into your new home. And, you don’t have to spend dollars on remodeling the existing home.
  • The materials used in building home constructions can come with different toxic levels and can be unhealthy. So, you must discuss with your home builder to use reclaimed natural materials in the construction process.

Now that you have an idea about the advantages of building a home, let’s see the benefits of buying a home.

Buying a new home or a pre-existing one comes with benefits:

  • On the whole, it is convenient and ready to occupy. The process and time to build a home are quite long and you don’t have to wait to buy an already existing home. All you need to do is, enquire about the property, visit the neighbourhood, perform a background check, discuss with the seller and decide accordingly.
  • Another best thing about buying a home is that you can decide on the location you desire to live. For example, you can able to choose an attractive neighbourhood with access to nearby amenities like schools, hospitals, and public transport system.

Bottom Line

So, when it comes to deciding to buy an existing home or building a new home, consider your budget and requirements, and make use of the above tips to make a sound decision.

At 5AB homes, we help you plan your custom home. To discuss with our consultants, call 1300 000 522 today.