Everyone has their own reasons for why they might buy or build a house. We wanted to take a quick moment anyway, with the help of Domain, to list a few considerations for if you’re torn between what move you should make. Once you’ve decided on the best path to suit your needs, your friendly local Coutts Lawyers & Conveyancers will help guide you through the processes involved in finalising your purchase.
Buying an established house
- Usually requires a quicker process which will see you move in faster.
- Land sizes are generally larger than what you will find with new builds.
- Property location is more likely to be more central to established infrastructure.
- Established houses are more likely to be purchased for investment purposes.
- If the house is in the right location and if improvements are made, value may be added.
- Buyers can establish fair market value with nearby sales data available in established areas.
Building a new house
- This is a popular for first home buyers due to concessions available.
- Less maintenance issues than with established houses.
- New house designs are more likely to be energy efficient, delivering long term savings.
- You can pick a design that suits your family.
- Building can be a time consuming process with the potential for complications.
- Building is a perfect option when looking for your forever home.
- New builds are usually covered by warranties.
Have you made the decision to buy or build recentely and need a conveyancer? Meet your new conveyancer HERE.