Building a brand-new home is a popular choice for many Australians. It's a great choice if you want a highly contemporary home that has all of the latest features, modern innovations and a high standard of construction. It's also ideal if you want a home that you've been able to contribute to when it comes to style, size, layout and fittings.

Building a home will require you to use the services of a building company that has experience in constructing new homes from the ground up. However, not everyone chooses the same type of builder for the job. Here are the three main types of builders that are options for you if you want to build a home.

1. Volume builders

Volume builders are generally larger home building companies that have a range of standard home designs for you to choose from. Often, you can buy a house and land package with a volume builder, which makes the building approval and construction period faster and simpler for the customer.

A volume builder generally provides a new home for a very competitive price because the standardised designs mean that procuring materials and organising labour is cheaper and more efficient. The main downside to using a volume builder is that you'll have limited ability to modify and customise your home if certain things don't appeal to you entirely.

2. Custom builders

Custom builders give you the opportunity to have considerably more input into the size, style, layout and fittings in your home. They work with you to turn one of their standard designs into a home that will meet your needs perfectly, accommodate your personal taste and stand out as unique in a suburb that might be full of very similar-looking homes.

The downside to the increased flexibility in design is usually a higher price tag. However, if you really value having input into your home or you envisage this being your home for many years to come, then paying the extra is generally money that's very well spent.

3. Owner-builder

The third option when building your new home is to become an owner-builder and take charge of the project yourself. You can easily and quickly obtain an owner-builder licence from your relevant state government which lets you legally manage the build yourself. Instead of using a building company, you'll employ all of the tradespeople directly.

The main advantages of this building option are that you have complete control over the speed and quality of the work undertaken and that you could save on the cost of a volume- or custom-built home. However, unless you have the time and ability to dedicate a lot of time to the role, you may find that the project doesn't run smoothly and doesn't end up being as cost effective as you'd like.