When it comes to finding your dream home, the options may feel a bit overwhelming. Should you build from scratch? Maybe renovate an existing property? Or simply buy a pre-built home? Each choice has its own advantages and disadvantages to consider. Throughout this blog, we'll talk you through each of these options. If saving on costs and time is one of your main considerations when making this decision, we’ll explain the benefits of building with Platinum Pro Construction (in a completely non-biased opinion, of course!).
Let's chat about some things you’ll need to consider...
Everyone wants a home that’s customised to their needs… but there are obviously different ways you can go about achieving this.
Let’s start with the obvious – building a home from scratch allows you to create a customised space that perfectly aligns with you and your lifestyle. It gives you the freedom to design every aspect, from layout and room sizes to finishes and materials. At Platinum Pro, we have a range of pre-designed plans that can be completely customised to suit your needs. Check out this build at Boyes Street, where our clients took our plan Wilson and customised it to suit their lifestyle.
Renovating a home also allows you to customise your space, whether that's extending your kitchen or living area, or freshening up your bathroom. Renovations can help transform your existing house to become your dream home. However, significant renovation work isn't without its headaches – obtaining building permits, coordinating contractors, and sourcing and pricing materials are just some of the tasks you'll need to do before the renos start. There is also the risk of running into structural issues, which could seriously blow out your budget.
And finally, while buying a pre-built home may offer convenience and a quicker move-in process, it often comes with the limitation of being unable to fully customise the space to suit your lifestyle. When purchasing an existing home, you inherit its design, layout, and finishes, which might be different to your dream home expectations. While you might envision an open-concept kitchen, home office, or master suite with a luxurious ensuite, these features may not be readily available or possible in a pre-built home. While some modifications can be made, they could come with significant costs and time constraints.
Let's be honest – cost will probably be one of your biggest considerations when making the decision of home ownership!
Now, you might think that being mindful of costs will rule out the idea of building… but building your dream home doesn't mean having to break the bank. In fact, building (especially with the right team) can actually save you money. Our streamlined process, not to mention our great supplier and contractor relationships, will keep your costs down without compromising on quality.
With our fixed-price contracts (and constant budget check-ins along the way), you can be guaranteed that you won't be faced with any hidden or surprise costs. Modern homes are also built with energy-efficient materials, and their orientation is carefully considered – this can save you money with energy bills, way after the build has finished.
Renovating a home is a completely different challenge when it comes to budget, as the costs can vary significantly, depending on the scope of the project. Major renovations, such as kitchen or bathroom upgrades, room additions, or structural changes, typically require a significant upfront investment in materials and labour. Also, unexpected issues may arise during the renovation process, especially in older homes, which can lead to additional expenses. So, while renovations can enhance the value and comfort of an existing home, you should carefully budget for both the upfront costs as well as potential ongoing costs, to ensure your project remains financially viable in the long run!
Buying an existing home may seem like the most straightforward option when it comes to staying within a budget, but make sure to carefully evaluate the upfront costs – as well as the purchase price, there will be stamp duty, Lenders Mortgage Insurance (LMI), rates and other fees. You’ll also need to consider the future expenses that could come with making it your dream home, such as potential upgrades or renovations! These can add up significantly, so it's essential to keep all of this in mind before deciding whether building, renovating, or buying is the most cost-effective solution.
So, what now?
While you may have previously thought renovating or buying an existing home was the easiest and most affordable option, building a new home with Platinum Pro actually offers a range of advantages. Our pre-designed plans mean most of the hard work is done for you, so you get to focus on the fun part of choosing your fixtures and finishes, to bring your vision to life. As part of your preliminary agreement, our team also sort all your permits, soil tests, site surveys and so on, which means you don’t have to stress about any of the paperwork or approvals!
So, still deciding whether to build, renovate or buy? It's no surprise that we think building stands out as the clear winner!
Remember, it starts with us. Get in touch with our purple army today to talk about bringing your dream home to life.