Weighing up the cost of building from scratch versus buying an existing home? You’re not alone. Amid consecutive interest rate and cost of living increases, prospective home purchasers are heading back to the drawing board and assessing if they’re ready to make their first, or next, move in property.
At the Mid North Coast’s home of building information and inspiration, our expert builders are available daily to discuss the new home journey with you.
The Sovereign Hills Display Village on York Street, Port Macquarie, features 21 homes from 14 leading builders, and thousands of floor plans for all life stages and budgets.
While we understand individual preferences and circumstances may vary, here are some of the potential benefits of choosing a new build over an existing.
Customisation: When you buy a new home, you often have the opportunity to customise it according to your preferences. We’re talking layout, roofing, fittings, fixtures, flooring, paint colours, bench tops, appliances, study nooks – all the elements which allow you to inject your flair and personality and provide ultimate functionality. This allows you to create a space which truly suits your taste and lifestyle.
Energy efficiency: New homes are typically built with the latest energy-efficient materials and technologies. This can result in lower utility bills and a reduced environmental impact. New homes often come with energy-efficient appliances, better insulation, and advanced heating, ventilation, and air conditioning systems.
Advanced technology: New homes are more likely to be equipped with the latest technology, such as smart home features, energy-efficient lighting, and built-in security systems. This can contribute to a more convenient and connected lifestyle.
Modern design and features: New homes often incorporate the latest design trends and architectural features. This may include open floor plans, higher ceilings, and larger windows, providing a more modern and spacious feel. Additionally, new homes are more likely to include features such as walk-in robes, updated bathrooms, and state-of-the-art kitchens.
Warranty: Newly constructed homes come with warranties that cover various components, such as appliances, roofing, and structural elements. This can provide peace of mind for homeowners, as any issues that arise within the warranty period may be addressed by the builder.
Meeting current building codes: New homes are constructed to comply with the latest building codes and safety standards. This means they are designed to meet current regulations, providing a level of safety that might not be present in older homes.
Lower maintenance costs: Since everything in a new home is brand new, you're less likely to encounter immediate maintenance issues compared to an older home. Major components like the roof, plumbing, and electrical systems should have a longer lifespan before needing significant repairs or replacements.
Financial incentives: In some cases, there may be financial incentives for buying a new home, such as government grants, tax credits, or builder promotions. These incentives can help offset the overall cost of purchasing a new home.
While there are advantages to buying a new home, it's important to consider factors such as location, cost, and personal preferences. Existing homes may offer unique character and established neighbourhoods that some buyers find appealing. Ultimately, the decision between a new and existing home depends on individual priorities and circumstances.
Visit the display village builders on York Street today to learn more about building your dream home. Open daily from 10am.
