Is this the time to build your dream home?

How do you know it is your time to build your dream home?

There is so much information online and lots of online tools to help us make good decisions, it can be overwhelming and leave us even more confused

Have you ever heard a toddler asking why over and over again to whatever response they are given? Yes, I know it is nerve wracking, but have you ever tried asking yourself 5 whys to solve a problem or make a decision?

There is a simple science to this, and it works. It can help you understand why it is or isn’t the right time for you to build.

We brainstormed some answers to the whys for you. Some may be different from your thinking or may be the same.

Why do you want to build a home?

Building a home is the true expression of who you are. Every aspect of it is your choice. You design every room. It will be where you can live in comfort with your family or even with just you. Your home will grow and change as you do over time, but you will always be the first.

Why can’t you continue to live where you are?

Tired of renting and paying off someone else’s mortgage? There is so much risk involved in renting. You are at the mercy of the landlord. How often have we heard horror stories about lack of rentals, high rent prices and evictions with no options.

Isn’t it the great Australian dream to own our own home?

If you have already purchased a home and been living in it for some time. Don’t really like the neighbourhood. The backyard is not big enough for your family, pets or that pool you are dreaming off.

Why can you afford to build a home?

You have been saving for years and have what you think is a great deposit. Your bank and broker agree. They show you how you can manage repayments, even if interest rates fluctuate.

Even though the upfront costs of building our own home may be more costly, new homes appreciate faster. You will be able to add in energy saving technology to save you money on living expenses.

Why is building better than buying an established home?

The decision between building and buying an established home depends on personal preferences, budget, and personal circumstances. If you have been looking around at houses for sale for ages and nothing really floats your boat, it could be the option you are looking for.

The cost of renovating an established home can quickly blow out. Why not start from scratch and get what you really want. You don’t want to have to fix other people’s building or design mistakes.

Why are you not willing to wait any longer?

Australia wide, the housing market has changed significantly since COVID-19. We have seen a shortage of established homes on the market. There is a shortage of new land to build on. This has started to level out but there are still limited options available. New land estates are opening up in all states, but options are not always going to be available. For example, if you want to build in Melbourne there were only 250 blocks of land listed for sale on the first day in February 2024. Knowing the market and what are the upcoming land developments is important. It can help you with your decision to build now or later.

Have our whys helped? Well, if so, why wait? You have already started your planning with this process. This could be the right time for you to build your dream home. There are custom home builders in Melbourne and Australia wide who can help make your dream a reality.

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