Build new or buy established – what’s the right choice for first homebuyers?
When it comes to finding a place to call home, one of the biggest decisions you’ll make is whether to build a new home or buy an established property. Weighing up the pros and cons is even more important for first homebuyers, who usually have a tight budget to consider.
‘Do you compromise on a few features and buy an established property, so you can move in straight away? Or wait a little longer and build a new home exactly the way you want it?,’ asks Homebuyers Centre New Homes Consultant Stefan Gigovic, who has worked in both the established property and building markets.
‘People are often quite shocked by how affordable building a new home can be. They also tend to be lower maintence and more energy efficient than an established property, saving you money in the long term.’
Below, Stefan steps you through the top benefits of building a new home rather than buying established.
1. Pick your perfect floorplan
Make sure your home reflects your specific needs – not someone else’s.
‘When buying established, you’ll usually have to compromise on design features or undertake expensive renovations to create a home that suits your personal needs,’ says Stefan.
‘Our customers love the fact they can choose a ready-made floorplan, with option to include a range of design options so you can personalise the home to suit your family needs and lifestyle.’
Modern floorplans also have the added benefits of contemporary design features, such as open plan design and high ceilings, elements that are often missed in older home designs.
2. Don’t waste time and money on excessive maintenance
When you buy an established home, you don’t know when products, finishes or appliances will need repair. Despite a thorough pre-sale inspection, your hot water system could call it quits three months down the track.
‘All Homebuyers Centre homes come with a minimum 25-year structural guarantee and a 12-month service warranty. It provides peace of mind to our customers that any minor issues will be covered,’ adds Stefan.
New homes are also built using cutting edge products that require less care and maintenance. Homebuyers Centre homes, for example, are made with MGP-1O timber which is 10 times stronger than what building regulations specify.
‘Driveways have also come a long way. Gone are the days of concrete driveways that are prone to chipping and need to be regularly repainted. Today’s exposed aggregate driveways are hard wearing and require little maintenance,’ adds Stefan.
‘I also love modern weather-proof external cladding for those that love the ever popular Hamptons style. It allows you to get the coastal look without the upkeep of traditional weatherboard.’
3. Save money on heating and cooling costs
Today’s homes are more energy efficient than ever before. Unlike established properties, new homes benefit from a government mandated energy rating, which could save you big bucks on your energy bills.
‘As part of ABN Group, Homebuyers Centre has been building homes for over 40 years. We know how important it is to keep up with the latest improvements in building know-how and tech. This includes high quality glazed windows, additional eaves, and external and roof insulation,’ says Stefan.
‘Building new also gives you the opportunity to maximise the orientation of your home to make best use of the sun, which can help reduce your power bills even further.’
4. Live in Metro Melbourne and Regional Victoria’s prime locations
Most new homes are built in masterplan communities with amenities nearby or within the estate itself.
This means you could have the luxury of parks, schools, childcare and shopping centres close by – often within walking distance.
‘New estates also tend to be more affordable than buying in established suburbs,’ adds Stefan.
5. Enjoy that ‘new home feel’
An established home was someone else’s creation and reflects their choices and memories. You may get used to scrubbing stained countertops and learn to love 70s-style appliances, but nothing compares to that new home look and feel.
‘An established property often features older carpets and weathered building materials that can attract mould,’ says Stefan.
‘New homes feature fresh fixtures and fittings, and building materials that comply with the latest building regulations and best practices. So, you know your home is the best possible living environment for your family.’
New homes offer the latest designs, styles, comfort and quality. Bringing your vision to life may be more affordable than you might think.
Find out what’s possible by reaching out to one of our friendly New Homes Consultants today.