Build Vs Buy: Top 5 reasons to build your next home

Construction of a home at Wirraway

Building your own home can seem daunting, but it’s also a great investment. There’s no such thing as an ordinary family, so why not create something extraordinary for yours! Our resident property expert, Sam Budden of Robinson Property, shares his top five reasons why you should build your next home.

  1. Design a home that suits you: How often have you looked at a property and thought ‘if only it had…’, when building you start from a blank canvas and can design a home that perfectly suits your family’s needs.
  2. Only pay stamp duty on the land: When building, you’ll only pay stamp duty on the land, which means it’ll be substantially less than what you would pay on an established house. Stamp duty can’t be added to your mortgage, so this also significantly reduces the upfront costs required at the time of purchase.
  3. Maximum tax incentives-depreciation: Buying land and building a brand new home is far easier than renovating and calculating the value of your asset through a quantity surveyor. Every part of the home including the fixtures and fittings will see depreciation, with the first 12 months giving you the greatest return.
  4. Only pay ‘cost’ prices: As you’re essentially paying ‘cost’ price for both the land and construction, there is the potential to have immediate equity in your new home.
  5. Government grants: Last, but certainly not least, there are some great Government grants currently available for those keen to build their home. For example, eligible purchasers can receive up to $17,590* in grants when buying land at Wirraway.

To maximise the savings when building, it’s important to note that picking the right lot is key; sloped sites can add additional costs to the building process. Level lots (or those that have already been benched and retained by the developer) will make the building process much more efficient—so you’re in your new home faster.

At Wirraway, there is also the added security of being backed by government developer, Defence Housing Australia, and being able to secure land in Wirraway with only a $5,000 deposit. Wirraway is close to community facilities, shopping centres and schools, and is well-serviced by public transport. Future residents will be able to cycle the shared pathways, workout at the fitness stations or enjoy the aviation themed play equipment and half-sized basketball court.

To find out more about living at Wirraway, register online now or call our friendly team on 1800 891 958.

*Robinson Property and DHA do not guarantee, warrant or represent that the information contained in this advertising and marketing material is free from errors or omissions. Any interested parties should make their own enquiries, seek expert advice and review the contract terms.

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