Advantages And Disadvantages of Building Your Home

Everyone wants to live in a dream home of their choosing. If you’re going to invest a massive part of your finances into a living space, it should be as close to ideal as possible. Aspiring homeowners in Australia often find themselves in a dilemma. Do you buy a pre-built house that fits your tastes or do you build it from scratch? Both the former and the latter option have their distinct benefits and disadvantages. It’s not a decision you should be rushing into without thorough planning. Before you decide how to acquire your new home, you should consider all the pros and cons that come with both options.

Financing can be complicated

Building a home is usually one of the largest financial decisions an individual will make in their life. It’s a monumental task that requires financing a mortgage, contractors, and the materials used. This expensive endeavour is rarely done more than once. However, there are a few factors that alleviate the financial burden.

New home builders are given a few incentives by the government to make the process easier. First-time homeowner grants are a good example. There's also a reduced stamp duty and warranties that help protect new homes. Purchasing a property of a plan can lead to some secondary cost savings, but this depends on the area. Renovations can be costly, but there are ways to make it more affordable.

You can choose any location

When you buy a property that’s already been built, you don’t exactly have much say for the location. You can choose from a variety of locations for pre-built homes, but you can’t pick an exact plot and decide to build there.

Constructing your own home allows you quite a bit of freedom in this regard. Wherever you can buy land, you can likely build a house. This is especially true for suburban and rural areas. As long as you purchase the right kind of land and stick to Australian zoning laws, you'll be able to get the exact house you want, location and everything.

Managing the construction is a lengthy process

Getting ahold of a house is no easy task, no matter which we way you approach the process. There’s lots of paperwork involved and you can expect a while to pass before you actually move into one. When you decide to build a home, you are greeted with even more challenges.

You have to adhere to all the different laws and safety regulations that address houses and buildings. Handling the legal parts doesn’t take too long, but then you have to actually build the house. You have to find the right contractors and give them adequate directions when building. While this does provide a lot of freedom, it also takes a long while.

You can build it to match your needs

A completed home might have most of everything you seek, but it’s never going to be exactly to your specifications. Building from scratch allows you near-limitless customization. However, this requires that you properly communicate your wants and needs to the contractors.

Everything relating to the construction has to go through your contractors. Many Australian homeowners find it difficult to communicate with their builders, especially if it’s their first home. The process is a lot easier when working with contractors that have lots of experience. Your best bet would be to find professional construction companies in Sydney that have already built houses for first-time homeowners. They would be better equipped to create a home that matches your exact specifications.

It can take a while

Building a home from scratch doesn't just entail waiting for it to be finished. You have to design and furnish it to your tastes. Even once the home has been constructed, you shouldn't expect to move in for quite a while.

Getting all the furniture and renovations done takes a lot of time, which is why you should already have a plan prepared in advance. If you need to employ an interior designer, do so while the construction is still underway. It’s going to save you a lot of time and allow you to move in much faster. Order the furniture you need and keep it in storage until everything is finished. This way, your wait will be significantly reduced.

Conclusion

Building a home comes with lots of pros and cons. It’s not an easy decision to make, but many Australian homeowners make it all the same. The benefits tend to outweigh the downsides more often than not. The process just requires a lot of patience and planning. If you're having doubts about building your new home, try to communicate with a wide variety of contractors to reassure yourself. It's a lot easier to handle when you have competent individuals informing you of all the different factors that go into the building. You have to remain involved and thorough during the process so that you can get your desired results in the shortest amount of time possible.

Liam Smith is a young and aspiring blogger and writer. He specialises in workplace relations and human resources.