If you’ve been asking yourself, Should I buy a house? then you should consider the differences between new and established property.
Due to their high costs, established properties can be inaccessible for many families.
But fortunately, building a new home provides an affordable alternative.
Plus many more great benefits!
These benefits are not just for young families.
Whether you’re a first home buyer or investor, upsizing or downsizing, you can get more bang for your buck with a new home.
Read on to discover the pros and cons of building a house, and how it stacks up against buying established.
Benefits of Building a New House:
1. Price
Should I buy a house? and Can I afford a house? are often asked hand-in-hand.
You’re probably concerned about the costs involved and whether you can commit to the mortgage.
When you add up deposits and repayments on established properties, the costs can be staggering.
But there are many factors that make building a new home an economical choice.
New homes come with many government incentives and often better financing options than buying established.
You can take advantage of the Victorian government’s First Home Buyers Grant and stamp duty concessions.
First home buyers in regional Victoria can save thousands and thousands!
And here’s another price factor. When you buy land and build new, you lock in a current market price before having to repay your loan.
This is a great way to reduce interest that you would pay on more expensive properties. It also allows additional time to save while your house is being built.
Tip: A new home also allows you to claim tax deductions for depreciables.
2. Energy Efficiency
Building new can give you a more energy efficient home than if you choose an established property.
Not only will your appliances have great energy ratings, building new allows you to get an energy efficient design that cuts costs on cooling and heating.
With a newly built home, you’ll slash your power bills while enjoying the peace of mind that you’re doing the best thing for the environment.
3. Customisation
In your new place you get to tailor nearly every part of your home to suit your needs and lifestyle.
With JG King Homes, you can choose from various home styles and floor plans. Just take a look at our stunning new home designs to see what’s on offer.
You can pick timber flooring or carpet according to your preference, and select finishes and fittings according to your budget and taste.
4. Zero maintenance
Established properties are more expensive than new ones. And, the costs don’t end after you sign your contracts.
Established properties inevitably need maintenance, whether it’s landscaping the backyard or fitting out your home with central heating.
Even if nothing needs replacing at the time you buy, once you actually move in, it won’t be long before things start to deteriorate.
But newly built homes have all-new everything, so nothing is likely to break or degrade for many years.
And in the unlikely event that something is faulty, you’ll be covered by your builders warranty.
5. Low competition
Imagine spending all of your Saturdays at open inspections, looking for that perfect place to settle.
After months of slogging through not-quite-right houses, you finally fall in love with a place…
The asking price is a little on the high side, but you decide to bite the bullet and go to the auction.
Only trouble is, when the bidding begins, the price skyrockets and you find yourself stepping back from the fray.
The established property market is tough. And with so much competition, it can be hard to get a home that ticks all your boxes.
But when you build your own with JG King Homes, you get exactly what you want without having to compromise or worry about losing a bid.
6. Health & safety
Many established properties in Victoria do not meet current building standards.
For instance, a third of all Aussie homes have asbestos in them, and any home built before 1990 is almost guaranteed to have asbestos inside.
A new home guarantees your safety according to current building standards, and includes the latest technologies for your comfort.
Our homes are built specially for the harsh environments of Victoria.
Our steel framed homes are more fire safe than timber homes, and even reduce the spread of fire through a community.
7. Never lived in
Let’s not forget the benefits of living where no one else has.
Your newly built home will be clean as a whistle, with delightfully fresh carpet and free from that yucky mould you can never scrub out of the shower grout.
New homes also come with all the modern features you love like open-plan living and energy-smart configurations that you just don’t find in established properties.
Should I buy a house?
When you ask yourself, Should I buy a house? It’s important to consider the differences between buying established and building new.
Established properties are more expensive to buy, and they’re also less energy efficient and will often require expensive maintenance or renovations.
In contrast, buying a block of land and building a new home, or choosing from house and land packages by a trusted builder like JG King Homes, has an affordable price tag and lower ongoing expenses.
With so many reasons to love new houses, it’s easy to see why so many families choose to build with JG King Homes.
