Why building beats buying

Why building beats buying

The beauty of building is getting to design your home around your lifestyle - like this custom Platinum kitchen, designed specifically to accommodate its new growing family.

Published:

Oct 13, 2020

Industry

Property hunting is time-consuming. Endless internet searches, real estate agent calls and open homes filling your precious weekends. All in the hope of finding the perfect home that ticks all your boxes.

There will be false starts as you find “perfect” homes that are snapped up before auction or sell for far more than expected.

At some point you may decide that you have to create your own version of perfect – by buying a house you can renovate and turn into the home of your dreams, complete with a big back yard for the dog.

We’ve all heard horror stories of home buyers who’ve ripped off wall coverings – only to find asbestos lurking inside the walls; or rotten boards where they’d expected to uncover pristine wooden floors just waiting to be polished and topped with elegant floor rugs. There’s also the home owners who’d planned to turn small inconvenient spaces into open plan living – only to find a wall they’d hoped to remove was actually holding the house up.

Those are just some of the problems with buying an existing home. You inherit any, and all, of its imperfections and problems. And with older homes comes older building materials – making some renovations risky and pricey.

Building inspections and Land Information Memorandums help to identify issues before you sign on the dotted line, but sometimes the problems are less obvious.


Get ahead of the crowd

With interest rates at record lows, many Kiwis are discovering now’s a great time to get on the property ladder. That means you won’t be the only one taking advantage of cheaper lending. It’s a competitive market for buyers and in many regions prices are on the rise.

Building new means you can skip the open home queues and tense auction rooms, and start building your dream home right away. You may be surprised how affordable a new home can be.

Why not start fresh, building a brand new home that really does tick all your boxes without the need for compromise? Your dream home can become reality – from the first day you walk in.

With a new build, and the right home builder, the choices are all yours. You decide whether you want a wraparound deck for all those summer barbeques. You decide whether you want a walk in wardrobe or an ensuite. Or both. The project is tailored to your budget and you’ll know the final cost before the project starts. With no expensive hurdles lurking behind old wallboards.

And of course you can’t beat that instant feeling of newness when you walk through the door into a brand new home!

You can choose to have your new home built on a section you already own, or have all the legwork done for you by selecting a house and land package.

You’ll have a warm, dry, safe home for your family. One that’s built to today’s building standards – ensuring it is energy efficient and environmentally friendly.

Most home builders also include their own guarantees. At Platinum Homes all our builds come with an Independent Builders Warranty and a Construction Works Policy to give our clients complete protection.


Home loan hassle

Battling the banks can be a difficult task. Can you jump high enough to get over all their hurdles?

Building a new home means you can bypass some of the Reserve Bank lending restrictions that apply to existing homes. That’s great news for Kiwis who fall short of a 20% mortgage deposit.

Every lending situation is different, so it’s always best to seek your own advice. At Platinum Homes we have a great relationship with NewBuild, who specialise in financing new home builds. We can arrange an appointment with a representative from NewBuild, who will answer your questions about deposits and repayment amounts.

Further reading

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