Compared to the existing homes where the baggage is used, Sydney homebuyers can save an average of more than 100,000 if they purchase land to build a house of their dreams.

The HouseandLand.com.au website made a self-built house analysis data showing that the average price of self-built housing was 13.9% lower than existing homes in the same area. Most of the reason is because the supply of land is more adequate and self-built houses are less competitive.

This spread means that if a buyer needs to spend 900,000 yuan to buy a common existing house, then if he starts building a house, the same style and configuration will cost about 775,000.

The study found that self-constructed housing has the same savings across the country, with new buildings costing an average of $361,096, while buying an existing home costs an average of $419,400.

Dean Kyros, head of House and Land, said that the suburbs have the most obvious spreads. There are still empty lands there, but they are usually far from the CBD.

Buyers can save money from building a new home because it does not have as many time restrictions as buying a home.

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People really don’t have so much precious time when they buy their existing homes. If they really want to see what they want, they will have to act immediately. Otherwise, others will start first. If you build your own house, you don’t need to compete with others. You don’t need to be rushed. You can design your own favorite.
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Kiros said that although buying a house is still a complicated matter, it is less challenging than buying an existing house. The land market is very competitive, but it is always easier to find another piece of land that you like, than to find another property.

Tim Reardon, chief economist of the Housing Industry Association, said housing construction costs are usually determined by many variables, but location is often the most powerful predictor. “The new residential area in the outer city is much cheaper than the inner city because there is no more land available near the CBD.”
-|Other advantages of buying a house and building a house | –

Save stamp duty

Under normal circumstances, the purchase form of the land + house portfolio will save the buyer a certain stamp duty.

For example, if you buy an apartment or a house in Australia, the stamp duty you pay is the total transaction amount of the price. But if you choose the form of land + detached house combination, assuming that the land is worth 600,000 Australian dollars and building houses need 500,000 Australian dollars, you only need to pay the stamp duty on the land, and the construction part does not need to pay the stamp duty.

Less initial investment

The purchase of the land + house portfolio requires less initial investment, and only the amount of the land is paid in the previous period. For the construction of a house, the fees are paid one by one according to the progress of the project, and the buyer can have sufficient time to prepare funds.

The design of the house is more personalized

The developer will give you a basic plan. You can increase or decrease your demand on this basis, depending on the style of the villa and your requirements for the house.

For example, if you want to upgrade the kitchen brand, use a better quality carpet, or add a sidewalk in the garden, this can be done at an additional charge.