Is It Better To Build A Home Or Buy An Apartment?

Build a home or buy an apartment? If you a re you a first home buyer or a potential investor you have probably asked the question. You might have noticed that the property market remains strong. The Government has been launching new schemes to help new homebuyers (even more so, developers) to purchase new properties, off-plan properties. And yet, our World has been shaken vastly and possibly permanently changed by the covid-19 pandemic happened this year – and it still is not over.

Intuitively, more dense cities have been hit harder by the virus. People have perceived lockdown in very different ways. Those who are stuck in tiny apartments have suffered psychologically more than those who had a piece of land. In recent history, Australians have been progressively abandoning suburban areas in favor of a city lifestyle. We have seen people downsizing and selling for profits. Those selling family homes in the country to buy a much smaller apartment for almost the same price, just to be closed to shops, theaters, bars, restaurants, and activities. Can you imagine the disappointment of those, now that Covid-19 has been revolutionizing our way to live and perceive spaces?

This return to the land is not temporary, but a long-term change. Apartment prices have started to decrease slightly but steadily, and the reason is pretty simple: we have all realized how much having space and land gives you freedom and protection. Living in the CBD can offer advantages but at the price of reducing your personal space: which has been proven in this pandemic era to be very precious. The good news, however, is that purchasing a block of land in a good suburb such as Calderwood or Tullimbar and building a house that is responding to your personal needs, it is not only affordable but sincerely advisable. You may fear that building a home can be more expensive and complicated than buying an apartment or a townhouse. Although if you look at the prices for units in a town center with more than one-bedrooms, they sell for the same price you would buy land 15 minutes to 20 minutes from the CBD with the opportunity for a garden, a larger space for your family and your kids. Renovating an existing house is also a possibility, but if you consider that cheap houses are generally that old and degenerated, and the renovations might end up being as complex and as expensive. Ultimately, do not forget that building a home also implies you can plan your space in the way it suits you and for only you. For example, you might prefer to have a larger studio or bedroom rather than a larger kitchen or a second bathroom. Everybody, indeed, needs to live the household on their terms. Therefore you should be able to have it organized as you decide rather than the way some developer has determined for you whilst considering their profits, and not with your needs in mind.

You can build an environmentally sustainable house. I know that your first thought might be that the environment is not your priority, but your family is. However, the thing we advise you to consider is that a greenhouse can help you to save more and more money every year. You would be surprised with your savings should you insulate properly, disposing of windows and ventilation system efficiently, and by choosing materials that are made not only for lasting through times. Especially to work symbiotically with the type of weather of your location (is it windier or more humid?). Don’t forget that a house is not just a purchase, but first of all your nest, your most valuable space to thrive and also relax, your best family times memories, and ultimately a profitable investment from which to gain ROI. Your best bet is to build your own home. Just make sure, though, you are sided by an experienced, trusted, the licensed builder that can advise you with honesty, that can work with your budget with precise estimations. If you feel like our values and expertise at Crown Homes can be of your assistance, give us a call today and let’s discuss your needs.

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