Building a home can be cheaper than buying an established home
Fees for building a home are cheaper than when buying an established home. The main saving is with Transfer Stamp Duty & Registration Fees paid on the purchase price of property. When you’re constructing a home, you only pay the stamp duty & registration fee associated with the purchase price of the land, whereas with an established home, you pay it on the total value. For example, let’s say you are looking at an established home costing $350,000 or a Construction where land is worth $200,000 and build is $150,000. The total Transfer Stamp Duty & Registration Fees for the established home is $15,989, whereas for the land it is $8,014 = a saving of $7,975, which could be used to cover the cost of some ducted air-conditioning.