Custom Home Builds Make Economic Sense in a Red Hot Market
The Sydney property market is rising rapidly due to lack of stock and fierce competition for houses.
Recent data showed house prices in March increased nationally at the fastest pace in 32 years .
Sydney had the biggest surge with the inner west and northern beaches accounting for the biggest concentration of rising markets, according to property research group Hotspotting.
The ferociousness of the market is making it hard for people to decide if it is worth the risk of selling and then buying back into a rapidly changing market. That’s why so many are considering staying where they are and knocking down and re-building a custom home.
There are many benefits of staying where you are and building, this includes:
- saving on stamp duty costs
- eliminating agent fees
- already knowing your area, neighbours, schools, and shops
- minimising the financial risks of buying and selling in a rapidly changing market.
Denis Carroll, Director of Horizon Homes, one of Sydney’s premier luxury home builders, said the explosion of the housing market in Sydney was leading people to reconsider the option of staying in their current location.
“Knocking down and rebuilding becomes a more economical option in this market.
“Our clients are telling us that they’ve decided to build on their current block because it would cost less than buying an upgraded home somewhere else.”
Not just a financial benefit
The benefits of building a custom home aren’t just financial. Home has always meant something more than just a physical space. It is a place to relax, make memories, and raise your family. Home is a place that should bring you joy.
Horizon Homes is a boutique custom builder in Sydney that helps families take their dream of a new home and turn it into a reality.
We help with all the hard stuff like creating a custom design, getting the build approved and, of course, building the home itself.
Horizon Homes deliberately limit the number of builds each year. That’s so we can give each project the time and attention needed to create a beautiful, quality built home we’ve become known for.
If you’ve decided it makes sense to stay in your current location and knock down and rebuild, contact Horizon Homes. You’ll find us on 02 8882 9111. Alternatively, visit www.horizonhomes.com.au for more information about building a custom home.