Demand for 'build it yourself' homes grows
Category Lifestyle
It used to be a commonplace belief that there's less competition for buying a plot of land and building a home on it, than there is for buying an established home. This may not be the case anymore, certainly not on KwaZulu-Natal's North Coast.
When land at Mt Cotton within Salta Sibaya launched, the sales came through thick and fast, and the initial release of plots were almost totally sold out within weeks. Gold Coast Estate experienced the same influx of interest and the developer released stands as a result of undeniable market demand. Looking at Mt Cotton and Gold Coast Estate as case studies, it's clear that buyers are looking for the quintessential coastal estate lifestyle but perhaps not always the ready-to-purchase homes themselves. But why?
Bespoke to your needs
The greatest advantage of building your own home is the most obvious. When you're in the driver's seat you can create a home that meets your exact specifications. The budding home chef can double the size of the kitchen, pantry and scullery if they wish, or the work-from-home consultant can add a coffee lounge to their home office.
Perhaps your family loves the outdoors? Get that extra big garage with integrated storage for your mountain bikes, canoes and more. The options are endless, and much easier than converting or modifying an existing home - especially when it comes to infrastructure for water and power. While building within an estate may come with architectural guidelines to follow, these will work in your favour to help create a street scene that connects with your neighbours, surroundings and views. You also receive the same security benefits and access to residents' facilities as part of your purchase.
Financial considerations
While the cost of building a home is debatable, because it may be more or less than buying an existing property based on a whole range of variables. Generally speaking, there are still some upsides for your bank balance.
The cost of maintenance for a new build home is less than an existing property, and most times will include a guarantee from the contractor to rectify any snags discovered in the initial settling period. Your new digs can also be built to modern energy- and water-efficient standards that make sense for your family, which will save you money in the long-term, instead of fitting them retrospectively in a standing home. Lastly, since there's no transfer of property from one owner to another, you will save on transfer duty and avoid some of the legal processes that home buyers have to go through.
These factors have largely influenced our clients who have opted for estate land over homes in recent months. When you find an incredible stand with views you love, elevations that suit you, and in a location with facilities and security that give you a lifestyle you desire - the choice is an easy one. Especially for those who want to be part of the process to design and build their dream home: it's a true privilege
Author: Devmco Realty
