Planning to invest in a property? Consider building it instead
Investing in a property can be exciting and quite often one of the biggest commitments you will ever make. But why not take that commitment one step further? Consider building your next property rather than buying.
It goes without saying that building a new home simply does not offer the convenience that buying an existing home does. First of all, you have to have the correct funds and need to find the land and more often than not, this land will not be in an existing neighbourhood. you must also consider the time to find an architect or builder before choosing every last element of the new structure.
The building materials, floor plan, furnishings and aesthetics are not the only things to factor in, either. Once you have sourced your builder, it’s important that they hold the relevant construction contractor insurance. When you think of high-risk jobs, a builder may not be your immediate answer, but construction workers constantly battle high-risk situations whenever they work. Therefore, it’s important that their business is safeguarded against any potential claims that may arise. Of course, public liability insurance is also a must, but construction contractor insurance is one of the most important and comes with a wealth of benefits as it covers everything related to their work. This can prove extremely useful in situations such as a fire damaging the property or equipment going missing.
Advantages of Building
Despite all the dangers and the sheer range of factors to consider, building a new home is still exciting. One huge advantage is that you can tailor the floor plan to exactly how you want it. When buying a home, we all envisage what it is going to look like but with an existing home, such customisation options are not always realistic. When you build your own home, you won’t have to worry about remodelling or repairing anything in the house so whilst buying may seem cheaper, additional expenses are not always considered. Building your own home is extremely rewarding, with every last detail resting on your shoulders; from the sinks, cabinets, paint colours and the doorknobs. The final product is entirely your own.
Not only are new homes more environment friendly, with the likes of more efficient toilets, plumbing fixtures and electrical fixtures, but they are genuinely better for your health. New homes are much less likely to come with the health concerns or toxic materials of an older home. The likes of mould, asbestos and lead paint will be a distant worry for you and green appliances and energy star rated appliances will soon be your specialist subject when it comes to general knowledge.