Would You Choose Building A New House Over Buying An Existing Home?
There Are So Many Factors To Consider When Faced With This Option.
Does It Suit Your Needs, Is The Price Right And Do You Have The Time To Wait Or Do You Need To Move Soonest?
Pro’s Of Buying An Existing House
- Established homes normally have more character than a new build (which gives a ”çookie cutter” feel).
- The potential defects of an established house are often visible. When building, you aren’t sure of potential problems which may have been caused by your builder taking a few shortcuts.
- Buying an established property is usually a faster process. You could move into your home within 30 days, compared to waiting a few months for your new build to be completed.
- It is not common to incur additional costs such as fencing, driveways and garden setup, as you would experience when building.
- Generally an existing property is located closer to a city and so will be nearer to schools and employment opportunities.
Pro’s Of Building Your Home
- You are eligible for the first home owners grant. (Currently $15,000 which you could use towards your deposit, stamp duty or moving costs).
- You only pay stamp duty on the land when you build (compared to paying stamp duty on the actual house as you would when buying an existing home)
Once you have made up your mind on what option best suits you, you may still need a bit of extra cash for other costs involved in buying and moving. Apply for a small loan with us
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