Building a home can be an exciting process and there are heaps of good reasons why you might build new over purchasing an existing house. There are a range of different ways about getting into a newly built house and each of them has their pros and cons. Understanding the difference between each type of build and the process involved with each will let you make an informed decision about what is right for you. But first...why build?
Make it yours
Firstly, you can have your say in how your new home is built. Depending on the method in which you are building you may be able to specify most or at least some aspects of your build. You may have control over the size, the layout, the position, the kitchen, the tapware...just about everything! This way you can get the exact house you want (budget allowing, of course!).
Potentially better gains
Secondly, there are potentially better gains to be had when building new. In some cases it can work out to be cheaper to build brand new than to buy an existing property. With a new home, you are the first to experience the capital gains that property receives.
Thirdly, new builds need less maintenance. A nice, new home is exactly that. You wont need to replace the roof, paint the exterior or do any major maintenance for years to come meaning peace of mind about maintenance costs.
Contributing to housing stock
Last, but not least, you will be contributing to New Zealand’s housing stock. New Zealand has a massive shortage of housing so you’ll be doing your part to help. On this note, there are some really good interest rates out there for those building new homes, like ASB and AIA’s Back My Build scheme, or ANZ’s Blueprint to Build scheme.