First Home Buyers: Why buy a New Home with Villa World?
- 16 July 2018
If you’re a first home buyer looking to purchase your very first property, you may be considering whether to buy an existing property or build a new home. There are many factors to take into consideration such as the area you wish to live in, your budget, how soon you want to move into your new home and what kind of home you hope to purchase. In this article, we take a look at the benefits of purchasing a brand new Villa World home, and how we can make the process of buying your first home a simple and affordable one.
No mortgage payments, just one initial deposit
When contemplating buying your first home, finances are likely to be one of the most important factors you will consider. In most instances if you purchase a block of land and then pick a builder to build your new home you will have additional costs to factor in. After you settle your land you will start paying a mortgage while waiting for your home to be built, you may still be paying rent at your existing property. You will then start paying an increased mortgage amount each time your builder puts in a stage claim to your bank such as frame stage, lock up stage etc. The Villa World difference means that you only have one contract for your house and land, so it is like buying an existing property – except it’s brand new! This not only means that you have less to save for an initial deposit, but if you are still renting you don’t need to worry about making mortgage payments along the way. All new Villa Wolrd homes come complete, landscaped and ready to move into. All featuring a range of quality inclusions in the fixed price contract. This feature of new-home building makes it one of the most affordable and easy options for first home buyers.
Villa World provides more than just the completed home, we create the street and the entire planned address to deliver whatever you and your family need to thrive.
Building a new home on a piece of land might seem like a complicated proposition, however nothing could be further from the truth. With complete packages from Villa World, your land purchase and home build are all consolidated into one simple contract. This makes the process much less complicated for first home buyers
Peace of mind
When hiring a builder to construct your new home there are many balls to juggle. Keeping your contractor accountable for both the budget and the timeframe of the build can be a challenge, especially for a first home buyer. With a completed home on a single contract, you can rest assured knowing that the entire process is handled by experienced professionals and managed by experienced professionals. Your completed home will be delivered at a set price and you do not need to worry about any surprises when it comes to costs.
All-inclusive and ready to move into
Speaking of peace of mind, because your entire project, from the purchase of land to the building of your new home, is taken care of under one contract with Villa World, you have the added benefit of being delivered a finished home which is ready to move into. From quality appliances, telecommunication and internet connectivity, fully landscaped gardens, all you have to do is move your furniture in and begin enjoying your new lifestyle immediately.
First home owners’ grant
As a first home buyer building a new home, you may be eligible for the first home owners’ grant. At up to $20,000, this grant can go a long way to contributing towards the cost of your new home and may even cover your deposit. In most states and territories, including Queensland, the first home owners’ grant is only available to Australian residents over the age of 18 who have never owned a home before. This grant makes buying a house and land package a very attractive and more affordable option for many first home buyers.
Save on stamp duty
Another cost that you need to consider when buying your first home (and any homes you purchase in the future, for that matter) is stamp duty. Stamp duty is a tax charged to home buyers which can make a significant impact on the cost of purchasing your new home. Thankfully, for first home buyers who choose to build a new home, stamp duty is waived in Queensland, so long as the value of the property is under $550,000. You can read more about stamp duty (or ‘transfer duty’) and the first home buyers grant in Queensland here.
Not only does a house and land package mean that you can build the home of your dreams, it can also be a great way to save on fees and gain access to the government’s first home buyers grant. Costs while building your home are kept to a minimum, meaning that your budget doesn’t suffer while you’re waiting to move into your new home. For more information on building your first home, make an appointment with one of our property consultants today.