Should I buy or build a house?

Should I buy or build a house?

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 conveyancer 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.