/, Home Building & Construction/Build a New Home or Buy an Established One?

Build a New Home or Buy an Established One?

Australia is blessed with premium landscape and custom home builders Sydney. You can easily find yourself a dream home in a suburb that goes with your lifestyle. However, the main question remains intact, should you buy an established property or build your home from scratch?

Both of these options are favoured by custom home builders but you need to put some thought into your decision before going forward. To help you with this dilemma, we have listed some pros and cons associated with the property you dream about. 

First, let’s talk about the established property.

Established Property

Pros

  • The best part about owning an established property is that you know what you are getting yourself. With this, you can review and verify all specifications, look for professional images, have a look at the locality, and decide.
  • The next thing is that you can be near the CBD. Even in the outer suburbs of cities including Sydney and Melbourne, people are finding it difficult to buy land. So, if you plan on buying land, you might need to let go of the idea of living near CBD. However, with an established property, you can choose the home of your choice, close to the city centre.

Cons

  • The biggest disadvantage of buying an established property is that it will be expensive. Depending on where you choose to live, you may find higher rates than usual. Research has shown that building a home is cheaper than buying an existing home in major cities.
  • If you always dreamed about designing your home, maybe this option is not suitable for you. You cannot design a bespoke living space with an established property. Of course, you will get an amazing property but you won’t be able to make changes or renovate it completely. Also, if you plan to get some renovations done, it will add up to your costs.  

Building From Scratch

Pros

  • The option will help you build your dream space with the amenities you need. You can discuss your expectations with your home builders and maximise the functionality of your property to create an inspiring home. 
  • With the First Home Owner Grant for first-time buyers, you won’t be paying extra stamp duty on the home. If you choose to build from scratch, you can enjoy lower fees on things.
  • The next advantage is that depending on the design you can make it energy-efficient and environmentally friendly. New home builders Sydney can create a brilliant house design that is fixed with modern materials and appliances to turn it into environmentally friendly. 

Cons

  • Depending on whether the house has just been built or taking time, you will have to wait for several weeks or even months before moving in. On the other hand, this is not the case with an established property as it only gives a waiting period till settlement.
  • The next thing is that your budget for building a home will always vary. Depending on your builder and design factors into construction, the cost of building a home is never what you expected. Expenses will always keep on adding up if you choose to make modifications midway through development. 

Conclusion

Buying an established property or building a new one has its pros and cons. While an established property gives you a designed house, building from scratch gives you the liberty to design on your own.

If you wish to build your dream home and are looking for builders. We are here to help. Visit us here – our experts will help you in every step of your home building journey. Contact us at https://www.simonehomes.com.au/contact/ to get in touch with us. 

About the Author: