looking to a long-term savings plan
As we’ve said before – building a new home from the ground up can have some hefty upfront costs that can cause an enthusiastic and excited home-maker to panic! But don’t be disheartened – an early and wise investment will mean long-term benefits and savings – especially in this market.
As we’ve ploughed through many layers of earth to build great foundations, we’ve also ploughed through many websites to read opinions and advice regarding home building in order to add to our vault of knowledge when dealing with our clients.
There are the obvious things to consider: budget, builder and supplies, but we’ve compiled a list to help you in defining and anticipating the lesser considered issues around building your dream home. It’s by no means complete, but it does help to settle some anxious moments when you feel you may have made the wrong decision!
ENERGY EFFICIENCY
It’s amazing how much energy older houses, that were built more than five years ago, consume. The rate at which technology has moved forward has provided us with appliances, designs and fittings that require far less energy to run. The very latest gadgets and gizmos always cost a little more to purchase, but the cost to maintain and utilise them is so much lower that they pay for themselves within a few months. Added to the monetary cost of energy is the environmental cost; in building your own home you are able to make responsible decisions regarding the energy consumption of your home and the overall impact that it may have on the environment.
LOCATION, LOCATION, LOCATION
Known as the 3 L’s of Marketing, location is also crucial to where you want to live. It effects everything from climate, services and natural light to transport costs. Things to ask include:
- Is the plot serviced for power, water and sewage?
- Is it close to local ammeneties (shops, schools, your place of work etc)?
- Does it get good light (and natural heating)?
- Is it near water or other influences that could de-stabalise the foundations?
- Is it in an area that is growing and developing?
MAINTENANCE COSTS
When you build your own home, if you’ve invested in high-quality materials, you won’t need to fit the bill for immediate maintenance or repairs. When moving into an older home you have very little indication as to what may need repairing until you notice it’s broken. It may just be a fresh coat of paint, but it may be a serious refurb’ that’s needed and could cost you tens of thousands of rands in unforeseen expenses.
FLOOR PLANS AND FITTINGS
As with the maintenance costs, in an older house you won’t know which appliances or fittings are about to expire on you. A week in you may hear the gushing of water in the middle of the night when the geyser bursts. In a new house, your geyser is insured. If it bursts in the first week – it’s not your problem. Another factor that is often missed is the design of floor plans and open spaces. Modern architecture is far more in tune with these elements of a home and newer homes are built to maximise all available space, both for aesthetics and functionality. In your own home, you can make sure that every square meter that you pay for has a purpose and a plan. Older house often have unused and ‘wasted’ space.
ANNUAL MAINTENANCE
In building your own home you are able to choose materials, fittings and features that require less maintenance and ultimately cost you less. However, when moving into an older home you may be saddled with high-maintenance costs that are annually required to keep things from breaking or looking ghastly. The cost to renovate or redecorate can often be almost as expensive as building your own house from scratch. With your own home, you’ll know these costs going in: with a pre-built home, you can easily be caught off guard.
These are but a few things to consider that are often overlooked until it’s too late. We specialise in building dream homes of luxury and deep personal value to our clients – if you need any help in making a decision to build or buy, contact us for our expert opinion!
