3 Amazing Benefits of Building a House in Australia

Now is the Perfect Time to Build a House

The global pandemic is still ongoing. But things are gradually returning to normal, and this is the perfect time to build a house. The Australian housing industry remains soft, and land stays affordable. This will continue until the end of this year and into early next year. Don't miss this opportunity. The plot you dream of buying might become unavailable by the end of next year. Now is the time to buy it and build your house.

3 Amazing Benefits of Building a House in Australia

Why buy a house when you can build it yourself? Below are the main reasons why building a house is far better than buying an existing one.

Benefit #1: Lower Costs

If you build your own house, you'll spend less money. This is because you won't need to spend on renovations and rebuilds every few years. You'll have peace of mind, knowing you can invest everything you need and want right away. Good home construction isn't just for the people who will live there. It's also a great investment if you decide to sell your home in the future. Your house will be worth more if it's built well and doesn't require further work.

Building your own home ensures greater savings since you can fully control the budget. You can decrease or increase square meters depending on your financial capabilities. As of today, average house prices in Australia range from AUD 780,000 to AUD 1,245,000. That's too high compared to what you'd spend if you decide to build it yourself — around $286,843.

Additionally, you may receive significant government subsidies if you are a first-time homebuyer. That's just savings on top of savings!

Benefit #2: Full Customization

You'll be able to control every aspect of your home's construction. You won't need to go through house after house looking for the best option that meets your needs. With a home you personally build, everything can be customized completely. This means living in a house that contains everything you ever wanted. You can choose the number of rooms — as many or as few as desired. You'll also be able to decide all the details — from paint to tiles. You can truly live in your dream home if you choose to build it yourself.

Benefit #3: Fully Energy-Efficient Home

Did you know that the average Australian family consumes about five megawatt-hours of electricity per year? That's a huge amount, and to offset just one such annual emission, you'd need to grow at least 25 trees and maintain them for no less than 30 years. Isn't that a shame? That's why the Australian government now requires all homes and builders in Western Australia and other regions to be fully energy-efficient.

Purchasing homes on the market may cost you more in the long run, as most older homes in Australia are not energy-efficient. If you build your own home, this issue is resolved immediately. Since you control every aspect of the house, you can make it energy-efficient. All new homes or extensions in Australia must pass an energy efficiency report to get a building permit. Companies like Green Choice Consulting help their clients achieve this compliance and obtain approval timely and affordably. An energy-efficient home is very environmentally friendly. Beyond living sustainably, you also pay less for utilities.

Financial Assistance

Building a house will be easier if you consider the following forms of financial support:

• Government subsidies for first-time homebuyers
• Mortgage
• Loans

- you can choose a four-month pre-approval option that gives you enough time to find a reliable and licensed builder

- you can also choose a 30-year loan term

- long-term loans allow for smaller regular payments

- you can also choose a loan with interest-only payments during the home construction phase

Don't Waste Time

It's hard to predict when property prices in Australia will be this low again. It's very difficult to forecast. Economists were even shocked by such a sharp slowdown in the Australian housing market. It was unpredictable and unexpected. This is something you shouldn't miss. Start planning and researching today. Begin building your dream home now.

Link:

Total housing value, first quarter of 2022

https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/total-value-dwellings/latest-release