New Homes vs Old
Before you decide either way, why not consider some of the advantages of building or buying a new home or moving into an established home?

The choice is yours

If you feel you need to move out of your current home but you cannot find all of the features you want in anything on the market, it might be easier and cheaper to buy some land and build a house. This assumes you have decided not to stay in your existing home and renovate it to meet your needs.

But you might be discouraged by the idea of dealing with builders and the inevitable delay in moving into your new house. So should you buy or build?

New Homes vs Old

Building a new home

There are a number of ways you can go about this:
  • Hire an architect and have them design your new home with all of the features you want laid out how you want them. This by far the most expensive option.
  • Contract a custom builder to build a house you have designed and taken to a drafting service that provides you with the working plans.
  • Buy a kit home and build it yourself or have a registered builder put it together for you.
  • Contract a project builder.
  • Register as an owner-builder and build or contract out the various building phases.
  • Buy a house and land package off the plan from a developer.
  • Custom builders tend to build only a few houses a year, usually one-off designs. They are usually more flexible than other builders but you pay for this.
  • Project builders build a large number of houses to standard designs. They may also offer a house and land package on a choice of blocks owned by them. Usually, they will accommodate some small variations in design but this will cost you more. Most project builders have display homes but to check the quality of their work try to visit some of their recently finished houses.
  • If you go down this path you will need to familiarise yourself with certain legal rights and obligations such as your responsibilities as an owner-builder, contracts with builders and protecting yourself against building defects.

    New Homes vs Old

    Buying an existing home

  • With an existing home, you can move in as soon as you buy.
  • What you see is what you get. If you've inspected the house thoroughly there should be no nasty surprises.
  • An established home is probably located in an established suburb or community and this can give you some certainty and comfort about where you are choosing to live.
  • You can predict the total cost by factoring in any necessary renovations.
  • The decision may come down to whether you can readily adapt an existing home to suit your needs or whether you feel ready to embark on a major project and start afresh.

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