New build

A New Build Home In Coatesville – The Right Choice?

Is a New Build In Coatesville The Right Option For You?

When you are in the market for a house, whether it is a first-time buy or even looking for an additional investment property, people tend to think about buying an existing house. However, going down the route of a new build is also well-worth thinking about. TV shows are littered with stories of delays and budget over-runs but that is when people are renovating. A completely new house build is a very different issue since we are building on a bare piece of land rather than having to work around existing infrastructure and boundaries. But there are other reasons too. Here we explain why it makes a lot of sense to think about a new build in Coatesville if you want a new home.

Easier Deposit And LVR For A New Build

The first reason is the Loan-to-Value Ratio (LVR) as set out by the Reserve Bank. The LVR is lower for new builds (10%) than it is if you are buying an existing property for yourself, typically 20%, or for investment then it is a 30% down-payment. You can see more details here https://www.rbnz.govt.nz/financial-stability/loan-to-valuation-ratio-restrictions.

Even though the financial security is similar to buying an existing home, i.e. the security on the mortgage deed, one reason for this distinction is that with a new build you are adding to the housing stock rather than simply transferring it. The Reserve Bank and many other commentators have said that a restricted supply is one of the reasons for high house prices so it makes sense that they will offer an advantage to someone willing to increase the stock of housing in Auckland.

New Build CoatesvilleThe different percentage may not sound a lot until you put it into dollar terms. With the median house price in Auckland currently being about $850,000, if you were buying an existing home for you to live in, you would have to find a deposit of $170,000. Instead, if you go the new build route, then you only need a deposit of $85,000.

For investors, the news is better still. They can still opt for a new build with the same 10% deposit of $85,000. If the same investor buys an existing property, the deposit they need would be 30% or $255,000. This difference is massive and should make every investor in property look seriously at the smarter commercial option of new builds.

A More Modern And Better Appointed Home

The next benefit of going the new build option is that your property will be much better appointed than buying in effect, a second-hand home. The fixtures and fittings will all be brand-new, and you can choose the most modern designs according to your budget.

The kitchen and bathroom will have all the latest styles to make your home a talking point. And you can easily include features like a home theatre, playrooms, or a separate granny-flat.

Bedrooms and living areas can be designed to the layout and specification that you want rather than having to accept the best option when looking at open homes.

Less Maintenance With A New Build

Another big benefit, especially for younger families that don’t have a lot of free time, or for senior couples who don’t have the same desire, is less maintenance. Your home will be freshly decorated so you don’t need to look at that for five years. The walls, kitchen and bathroom will all be newly fitted-out with new appliances which will be under guarantee so again no need to worry about repairs or maintenance.

Better Quality Tenants For A New Build

If you are an investor, then with a newly built house, with higher specs for decoration and appliances, you will be able to attract a better-quality tenant. They will likely look after the property better and you or your letting agent will be able to be far more selective about the tenants you accept. For example, you could easily let a brand-new build to overseas corporate clients looking for a two-year stay in Coatesville. And with better tenants, you will probably be able to charge a higher rent too.

The Various Options Available When Purchasing a New Build

There are many ways of buying a new build.

The hardest by far is to purchase a piece of land or work with a property you already own and try to manage all the construction and installation work yourself. You need lots of time, knowledge, patience and a very understanding family if you choose this route. With this option however you do have increased flexibility in the design and overall finished look of the new build, as you have the freedom of selecting the builder and architect for the project.

You could buy off-plan but this is not as simple an option as many people think. We have seen a number of bigger property developers go bust in recent months. This is mainly because their financing was wrong and their costs were under-estimated. Often people buying off-plan have to come up with significant additional money before they can take possession of their home. These extra amounts can be six-figures!

A third option is a “House and Land Package”. These are offered by some of the national building companies and don’t have the funding problems of big developers because the carrying cost has been the land they bought years ago. The funding for the house only comes into play when a buyer comes along and they are the funders, not the building company. The two main problems with this option are that there is no choice about the location and is often on a development with other houses. The second problem is that they offer a limited number of designs to choose from. So if you want to have a purpose-designed home, this option is not for you.

Choose A Builder For An Architecturally Designed, Purpose-built New Build

If you want a bespoke design new home the only option is to have an architecturally-designed home built. The easiest way to do this is to start by finding a residential builder for new builds in Coatesville. This is for two main reasons.

First, they know the area and can give you a ball-park estimate to start with so you know the potential size of your project cost.

Second, they usually know a number of draughtsman or architects that they can recommend which will save you a lot of time and frustration.

Finally, a good house builder will also manage the entire project for you. Some people try to project manage themselves and it generally ends up costing them a lot of extra money and certainly a huge amount of stress.

Financing A New Build

Arranging finance for a new build in Coatesville is quite easy and straightforward. The banks are doing this all the time, and your builder will be paid in the increments agreed to for completing various stages of the project.

This means you are not paying the mortgage for the total cost from the start, but it increases as the value of the property increases with completion of the next stage.

If you are looking to build a new home in Coatesville or nearby, please give us a call. Not only are we local to the area, we recognise this is the biggest financial investment you are likely to undertake and therefore are committed to providing you with all the help you need to have a stress-free build. Cain Built can take care of the entire building process from start to finish, from new build house plans and designs right through to completion, so you can relax knowing you’re in good hands. Give us a call on 0800 224 628 or if you prefer, you can email us at admin@cainbuilt.co.nz.

Dairy Flat New Build Home – Certified Existing Plan Or An Architectural Plan

What ‘s Better For A Dairy Flat New Build – A Certified Existing Plan Or An Architectural Plan?

Building a new house is an exciting project. At the same time, it is also one of the most challenging endeavours you can undertake. There are lots of decisions you will need to make along the way but one of the most difficult is whether to choose an already existing certified design, or to go for an architectural plan from scratch. This article takes a closer look at these options to help you understand their pros and cons, and to make an informed decision in regard to building your new build in Dairy Flat.

Advantages Of Using Certified Plans For New-Builds

Fast Availability

Certified existing designs from New Zealand Certified Builders have the huge advantage of being already available so you don’t have to wait for architects to create plans from scratch, or waste time having to discuss, then review and amend ideas with designers. This one step alone can save you weeks of going backwards and forwards.

Having plans ready from the get-go also means that you can begin the consent application a lot earlier, which in turn means you can start your construction sooner.

Browse Plans Online

New build Dairy FlatSome of the Certified new-build plans and designs are available online, so you’ll be able to browse through multiple options to find the one that best suits your needs. If you have an open mind and are flexible, whatever the size and the layout of your dream home, you can find something suitable. Your effort will be well worth it, as you will save both money and time by not having to hire an architect to create original work.

Lower Cost New-Build Plans

Another important advantage of choosing an existing design is the price. Hiring an architect to produce a custom-design for your new build will cost you a lot of money. Certified designs have already been prepared so the cost is far less than a custom-design option. An already certified design will save you from problems in obtaining all approvals needed to proceed with your work.

Costing For The Builder

A further benefit of using pre-approved designs for a new build is that the builder already has a good idea of the cost of construction materials. This means you should have a much more accurate price estimate. Of course, each site will have its own cost challenges, but the material costs will be relatively easy for the building company to assess.

Advantages Of A Bespoke Architectural Plan

Despite the above, architectural plans do come with some advantages as well.

A Unique Design For Your New-Build

First of all, you will have the opportunity to create a living space just as you want it to be. A pre-approved Certified new-build plan will probably have been built somewhere else before. For some people this is an issue, so with an architectural design, you know you will have a completely unique design just for you.

A Distinct Design For Your Building Section

Dairy Flat new buildWhen you create your space from scratch, you can design it to suit your specific section and locality. You may want to take advantage of certain aspects of your property, such as coastal or rural views, streams or bush which can be incorporated or drawn on for inspiration to create the design and feel of your home. You can also choose the building materials that either match your location or are ones that you specifically want to use. An architectural design means that you can match your home to your location.

A House Designed Specifically For Your Wants

Perhaps the biggest reason people choose an architectural design for a new build is that they can incorporate their specific desires to build their dream home. This could be a granny-flat, a home theatre, a specific kitchen layout, windows and views for a certain aspect and so on. Certainly, if money is not a serious constraint, then having a new house built to your own specifications and design is a route to consider.

Drawbacks With Architectural Designs

The two main drawbacks of architectural plans are their cost and time to completion.

As you can imagine, a custom-plan costs more than ready-made ones. The architect needs time to discuss, interpret, and develop your project. This will inevitably require multiple conversations and meetings with the owner to get the design exactly right. An architect’s time does not come cheaply, so the more iterations and amendments that you have, the more it is going to cost.

Once you have agreed on your preferred layout for a new build, you will have to submit plans to the Council for approval. This will also take more time. Building Consent at Auckland Council can take months to come through. A pre-approved certified new house build plan will remove a certain amount of that application approval process.

Summing Up Certified Plans Vs Architectural Plans For New Builds

Dairy Flat new build homeAn architectural-design will allow you to create a home specifically to meet your preferences. It can also match the feel and environment of your building section. However, they are expensive and take more time to get to the start of the construction process.

Certified plans for new builds do cost less, are quicker to get to the start of construction and also mean that the builder can give you a much better costing for the whole project.

As members of New Zealand Certified Builders, we can offer access to over 30 architecturally designed plans that are ready to build immediately or which can be customised to reflect how you live. These plans cater for all different housing needs and have been designed for urban living, rural living and seaside areas.

At the end of the day, the choice is up to you. If you would like to have an initial chat to discuss your new build in Dairy Flat or neighbouring area, feel free to give us call us on 0800 224 628 or if you prefer, you can email us at admin@cainbuilt.co.nz, we’re here to help.