It’s the big
question of real estate – do you buy an established home or build a new one?
You’ll have to weigh up the pros and cons for yourself before you make the big
decision. Here are a few pros and cons for consideration to get you
started.
PROS OF BUILDING
- You get to choose the house layout and fittings.
- Less maintenance of the building in the early years.
- More chance of an energy efficient home to save money on utilities.
- You choose the block and orientation of your house.
- It’s all brand new!
CONS OF BUILDING
- You may have to rent while the new house is being built.
- Pay a mortgage for land and partially complete home you can’t yet live
in.
- Time-consuming liaising with builder and choosing fixtures and fittings.
- Builder can’t give you an exact moving date until near the time.
- Decisions, decisions, decisions!
PROS FOR BUYING ESTABLISHED
- You’ll know the exact cost of the house to the dollar.
- Less research and shopping time required.
- Just a deposit to pay, no mortgage repayments until settlement day.
- Don’t have the stress of building.
- What you see is what you get, there’s no guessing.
CONS FOR BUYING ESTABLISHED
- You may have to compromise on one or more features of the house.
- Higher stamp duty and settlement costs.
- You may want to renovate soon after moving in.
- Location – established facilities and can choose somewhere close to the
CBD.
Do your research
and write out your own list of pros and cons to help decide. Whether it’s a
block of land, a house and land package or an established house you are looking
to buy, Whitney Real Estate are here to help you. Call us today on 07 4313 1111.
