When it comes to buying a home, one of the decisions you’ll have to pick  whether to buy an existing property or to buy or build new home. While many people choose an established character home, there are those who love the idea of a brand-new home. No matter which option you choose, buying a home is a big investment. So, to help you make an informed decision about the type of home you’d like to buy, below are some of the benefits or advantages of buying a new build,

1. Energy efficiency and comfort

Older homes can be cold and damp, unless it renovated usually lacking in good insulation. With having advantage  in technology and housing standards, new homes are being built to a much higher specification. Better insulation and construction means a warmer, drier home, which is generally more energy efficient, so it saves you money too.

2. Customised to your requirements

Building a new home can provide you with some control over the details. Even if you’re buying off the plan or a pre-set plan, you may be able to make some of the design decisions to help create a home that better reflects your specific taste and style. With an older home, unless you spend some serious money on a major renovation, what you see is what you get. New homes generally have more floor place, a well-thought-out layout, and extra storage space, features that may be lacking in older homes.

3. . More deposit with Kiwi Saver

Saving a deposit is one of the toughest challenges that first home buyers face. As hard as they save, the faster the property market climbs, which means having to save even more. It’s a crazy cycle! As a first home buyer, building new means you could benefit from Government’s First Home Grant, which is effectively doubled for newly built homes, so you could get into your new home much sooner than you think.

4. . LVR exempt

In a bid to meet market demand for housing, with an ongoing housing shortage across New Zealand, Government has made all new home builds exempt from Loan to Value Restrictions (LVR). New home builds can be defined as new houses that are being built or purchased from a developer within 6-months of completion. While banks still need to adhere to their own lending criteria, it may be possible to get finance for a new build with less than a 20 per cent deposit.

Looking to build new homes? Get in touch with our experienced home builders Auckland team today.