When prospective homebuyers enter the real estate market it’s an extremely exciting yet daunting time. One of the tough decisions that needs to be made is whether to buy or build, and luckily we’ve been in the business of creating people’s dream homes for over ten years so we can think of a few ways that a new home can provide value to homeowners.
Less maintenance, repairs, and replacements
One of the biggest upsides to having a brand new home with new features is that you don’t have to do any guesswork surrounding wear and tear or wonder if you’ll need to repair or replace something soon after moving in. Plus there’s the benefit of many elements of a new home being under warranty so in the event of anything needing to be replaced, you’ll be covered.
Additionally, all those little repairs you may need to make on an older home can quickly add up. Meanwhile, with a new home, your repair and replacement costs should ideally be close to zero for the first couple of years, saving you not only money but time as well.
The tax benefits of a new build
In March of 2021, the Labour government announced a new housing policy package which seeks to tackle the housing problem in New Zealand by increasing supply. They are incentivising investment in new developments, rather than existing housing stock. So, if you invest in a new build, you will be exempt from changes to the bright-line test and interest deductibility policy.
Additionally, it will make new builds less risky in terms of returns, they require lower deposits and are better protected from interest rate rises which will be more appealing for investors.
With a new build you can be assured that it complies with the latest building regulations, which in turn has shown to be a better investment for homeowners. New homes built to these regulations prevent air from seeping in or out, keeping you cooler in the summer and warmer in the winter.
Plus, with a new roof, water and energy efficient appliances, and good insulation you’ll be able to save on your energy bills and ultimately be able to save more money in the long term.
Location, location, location
Not only do you get to customise your new homes to your tastes and requirements, you also get to choose exactly where you want to live. So regardless of whether you want to live in the suburbs, by the ocean, or nestled away in a remote location, you can still have the home of your dreams.
Built with you in mind
When thinking about a home’s value there are countless reasons beyond the financial component that make a new home build an excellent choice. It goes without saying that having a home completely customised to you and your family’s needs will always hold inherent value.
Creating a new home allows you to invest in the aspects of your home that will truly make it your own, like building a home office, rumpus room, home theatre, library, or pretty much anything your heart so desires. The end result of a new build is a home that perfectly reflects your personality and needs.