Why You Should Buy Land and Build Your Home
Many people choose to buy a house instead of a vacant lot, where they would have to build their home from scratch. While that offers great convenience, buying a vacant lot has its own advantages. It’s worth the ‘trouble’ to buy land for sale in Donnybrook Road to build your home on rather than buy a move-in ready house. Read on to know why.
Lower costs
Most major cities in Australia have very expensive real estate, which can turn off any homebuyer. But if you purchase vacant land, that’s much more affordable, primarily because there’s nothing built on it yet.
So, if you want to build a house in a major city on a small budget, you can choose to buy a vacant lot first. This way, you can leave it for a while and work on building your finances until you’re ready to put up a house there.
Minimal maintenance
Another good thing about buying land is that you won’t have to deal with maintaining a house just yet. Since there’s no house on your property, you don’t have to worry about mould ruining the walls, bugs infesting every room, or pipes bursting and flooding the floors.
What you have to do is make sure that the grass is cut if you’d like to keep it from growing wildly. And you’re not even required to do that. Cutting the grass in your lot is only for aesthetic purposes.
Less competition
If you’re into real estate investing, buying and selling vacant lots has an advantage that buying and selling homes doesn’t — less competition. That’s right; if you buy land and you plan to sell it eventually, you won’t have too much competition. So, it’s easier for you secure a buyer and easier for you to stick to your price, as well.
More freedom
If you plan to build a house on your vacant lot, you’ll have more freedom to do whatever you want with it, unlike if you purchase a house and lot. If you buy a move-in ready house, there’s not much room to build, for instance, a pool or a workshop in the backyard.
If you’re buying and selling properties, a vacant lot is also better for you. With this, you can design the house and the surrounding landscape. This way, you can offer your buyers a uniquely designed property as compared to the other house and lots in the block.
Higher value
Another advantage of buying land is that its value can go up after a few years. Real estate increases in value over time. If you’re patient enough, the time will come when the land you’ve bought will double in value. You can then sell it at a price higher than when you first purchased it.
Choosing a vacant lot over a house has its advantages. It’s not as expensive, it’s low maintenance, and you don’t even have to visit the land when you’re about to purchase it. If you’re looking to invest in real estate or build a home on a tight budget, buying land is your best option.
