Building & Buying New in Victoria

Jul 25, 2019
DSC01493 Retouched med

Buying a home is one of the most exciting milestones in life. There’s the flicking through brochures and imagining your own personal touches on a new space, the thrill of inspecting and of course, the elation of being told that your dream is becoming a reality.

Whether it’s your first time buying property in Victoria or you’re upgrading to make room for a family, every home purchase is a long-term investment. In fact, it’s one of the single biggest financial decisions you’ll make. That’s why taking the time to get it right, and make sure that you’re thinking ahead for some years into the future, is so crucial. Buying a house in Victoria, step by step, isn’t so scary with the right advice.

One of the first forks in the road you’ll encounter is that age-old dilemma: new build homes or established?

It’s true that established homes can have their benefits. There’s a certain charm about old timber floors and ornate fireplaces. And with fewer and fewer of them around, you might consider it a good, profitable investment.

But more often than not, buying established can quickly turn into a nightmare. Here are the top three reasons to choose new build homes, and to start building the life you want.

1. Your Style, to a T

There’s nothing like a blank canvas to inspire imagination, and that’s exactly what a block of land and new house build represents. When you build your own home, you have complete creative freedom to design the home that you’re going to love living in—no compromises.

We’ve all been to an established home inspection where we love some, but not all, of the property. Perhaps it has great natural light, but a pokey kitchen. Maybe the backyard would be perfect for the kids, but a single bathroom is going to be a problem. You start making plans in your head about knocking down walls, renovating or extending, and before you know it, you’re not so in love with it any more.

What’s more, matching up your dream home with your dream location is so much simpler when building a new home. Pick the land in an area you like, and away you go. On the flip side, you could be looking around for years before you find the established property you like in the area you want.

You’re never going to find your dream home, in your price range, in your ideal location, and be the only one interested. You’re going to have to sacrifice something—be it a feature, neighbourhood or your bank balance.

2. Peace of Mind, Guaranteed

Old homes can be beautiful on the outside while hiding any number of nasty secrets, like mould, termites, structural cracks and old plumbing and wiring, to name a few. Even a building inspection might not pick up every issue, plus, there’s every chance that problems will only arise after a year or two. The face of the matter is that buying established—particularly older homes that are 50+ years old, is a gamble. The question is: are you willing to risk one of the biggest investments of your life?

By contrast, new homes are just that—brand new. Plus, many builders will offer you their own warranties or guarantees about the workmanship for that added peace of mind. JG King offers a 50-year structural warranty to demonstrate just how reliable steel frames are.

If you’re looking at renting out your property, then building a new home is also a smart way to go. Brand new appliances and fixtures will attract a higher quality of tenant—plus, you won’t be plagued with maintenance issues month after month.

3. Move in Sooner

Perhaps one of the biggest draw cards of new build homes is the cost. Today’s building materials and methods have come a long way from even a couple of decades ago. Options available to builders today are not only better—but are also lighter and more durable. It means your upfront costs as well as your ongoing maintenance costs will be reduced, so you don’t have to spend five more years working on the deposit.

Add this to the points mentioned above around often having to remodel or fix up older homes, and a new house build is looking more and more promising for your bank balance. You’re looking at a far lower entry point into not just the property market, but your dream home.

Concerned about the timeline of a new house build? Experienced home builders can erect homes in a short space of time—in many cases, much more quickly than it would take you to renovate an old home.

Chat to JG King about how we can help guide you through the process of building a new home, as well as buying land in Victoria.