When buying a property there is an overwhelming amount of choices. You’re faced with a million questions like; apartment or house? Does it need to be an energy efficient home? Do you live near your family? Finally, one of the most important questions, established home vs new home? There are a whole range of positive and negatives for each option, so our team of expert conveyancers put their decades of experience to use, and have listed all you need to consider before making your decision. 

Overview:

  • Is it cheaper to build or buy in Australia? 
  • Home maintenance and repairs 
  • Landscaping
  • Moving costs
  • Renovations & makeovers
  • Utilities and other regular services
  • Is it better to buy a new home or older home?

Is it cheaper to build or buy in Australia?

Making a choice between an established home vs new home is a tricky one. While moving into an established home is undoubtedly more streamlined than building a new house, it does not mean that everything will fall into place with just a click of your finger.

When making a purchase of an established home, it is wise to consider the additional costs that can materialise in your transition from your current home to your new home early on so that you can factor them into your budgeting process.

Home maintenance & repairs in established homes vs new homes

Another big consideration when looking at an established home vs new home is the potential maintenance and repairs of the home. One of the advantages of buying an established house is that everything is already set up for you. The previous owners might have also attended to some fixes but you could still run into problems later like plumbing issues or faulty electrical systems that you might not have considered. 

A building inspection is wise before your cooling off expires so that you are going in with eyes wide open and so that you can factor those future costs into your purchase. Remember that generally speaking, an older established home will likely see you with higher energy bills too – we’ve made significant strides in energy efficiency over the past 20 or so years. Considering these costs as one of the costs of moving from your current home will give you a more realistic picture of what you can expect.

Landscaping

While you might love that the design of your new house was sorted out by the previous owner, it is likely that you will have a few things of your own that you want to do to put your personal stamp on the place.

Landscaping isn’t cheap and we tend to focus so much on the building that it is sometimes forgotten. If you happen to inherit a yard full of weeds, give due consideration to the makeover that will be required. Think about outside entertaining and shading if that is an important part of your lifestyle. 

Renovations & Makeovers

An established property might not look as fresh and bright as a newly built home, so you may need to consider whether it needs some investment in a renovation. Looking at the wear and tear on your new property can wear and tear your dreams a bit, but small renovations and makeovers can make a big difference. 

A paint job to refresh heavy timbers may be just the thing to give the place a bit of a facelift or you might want to take on the big stuff like kitchens and bathrooms. Estimating the cost of major renovations is something you might need help with, so consider engaging someone to help you with those estimations upfront to avoid nasty surprises later.

Other costs to consider when buying a home

Utilities and other regular services

Renovations and moving aside, then comes regular life and it’s not just about mortgage repayments. Consider the cost of monthly utilities like electricity, gas, water, internet, pay TV, and things like regular cleaning or garden maintenance. Some might involve set up fees so keep a stash aside so you are not caught short.

At Eckermanns, we are constantly finding new ways to simplify the move process for you and make life easier. When you engage Eckermann Conveyancers to act on your behalf you will also be asked if you would like our Eckermann Select Service team to contact you to offer assistance with utility connections, removals as discussed earlier, insurances, Pay TV, Broadband connections and more.

Some might involve set up fees so keep a stash aside so you are not caught short.

At Eckermanns, we are constantly finding new ways to simplify the move process for you and make life easier. When you engage Eckermann Conveyancers to act on your behalf you will also be asked if you would like our Eckermann Select Service team to contact you to offer assistance with utility connections, removals as discussed earlier, insurances, Pay TV, Broadband connections and more.

Give consideration to all of the extras that might crop up after you’ve signed that contract so there are no nasty surprises.

Moving Costs

Moving houses in the same city is cheaper than moving interstate, but it is still likely to be a significant expense for you. Not all moves are theAll moves are not the same and there are base services and those with all the bells and whistles. Along with the volume of gear involved in your move, you might want to consider how much you can do yourself and how much you want to leave with your removalists service. 

Things like a full packing and unpacking services are possible but if you can do that yourself, then there may be significant savings. It will all depend on you, the time you have and your budget. The team at Eckermann Select Service can help you with getting a quote for your move. Find out more about it here: 

So, Is it better to buy a new home or older home?

Ultimately, what is better when it comes to an established home vs new home comes down to personal preference. Our team of conveyancers have over 40 years of experience with real estate in Ssouth Aaustralia and can make the process as smooth as possible, whatever you choose. Contact us today on 08 8366 7900 for any assistance.

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