Building new versus buying an older, established home – how does it stack up?

If you’re in the market to purchase a new home, you might be wondering – is it more beneficial to buy an already lived in established home, or build your brand new dream home? We outline the benefits of both options in our latest article.

When it comes to buying your dream home, there are many factors to consider – such as location, budget, nearby amenities, home layout, and more. 

The other decision you might be weighing up is whether it's more beneficial to buy an established home or build your dream home from scratch. 

In this article, we weigh up the benefits of both options. 

Building your home 

Pro: Your home can be as customised as you wish 

When you choose to build your dream home, you can customise as much – or as little – as you like. Working with a reputable company, like the 14 renowned builders within the Shoreline Display Village, will allow you to get guidance from professionals who can work with your budget, block of land, and requirements to ensure your home is uniquely yours. 

Pro: You don’t need to spend your weekends at open homes or auctions 

If you’ve ever been in the market searching for an established property, you’ll know how deflating it can be when you put in an offer on a home, only to discover someone else's has been accepted. In Greater Brisbane, where it’s currently a seller’s market, you might find that the process of purchasing a home may take several months before you’re able to land a home that suits your budget, desired location, and other requirements. 

When it comes to building your dream home, the good news is you don’t need to put yourself through countless auctions or open homes. At Shoreline, making an appointment with our friendly staff at our Sales and Information Centre is a streamlined and simple step towards your home ownership journey. To make an appointment and start your own exciting journey, click here. 

Pro: Your house will be more sustainable 

When you build a brand-new home, you have the opportunity to incorporate the latest technologies and energy-efficient features from the get-go. It’s no secret that newer homes adhere to more stringent building codes and standards, which saves you money on your energy bills and reduces your carbon footprint. 

Pro: You’ll have more time to save and make decisions 

If you’re keen to start your journey to homeownership but need more time to save, you’re in luck. Typically speaking, you can secure your lot with just a deposit, with no more to pay until settlement day – meaning you have more time to save your hard-earned cash and thoughtfully choose other important items such as your builder, home design, fittings, and more. 

Pro: You can take advantage of developer and government incentives 

From the Queensland Government’s First Home Owners’ grant through to the Federal Government’s First Home Guarantee, building can allow you to access more financial incentives that would otherwise be unavailable if you bought an established home. We’ve outlined which incentives you could be entitled to if you purchase at Shoreline – access the list here. 

Pro: You can avoid hidden issues or renovation costs 

When you build your dream home, you’re not inheriting any structural issues or design flaws that the previous owners have left behind. Most homeowners purchasing an existing home will opt to make some form of home improvements – ranging from a quick coat of paint right through to a home extension – and while the results can be rewarding, the process can be both time-consuming and costly. 

While renovations sometimes appear cheaper, hidden issues can arise along the way – meaning your initial budget could be quickly blown out by repairs, maintenance, and more. 

Buying an established home

Pro: You can get into your home sooner 

Unlike building a home, which can sometimes be a lengthy process, buying an established home may see you moving in within 30, 60, or 90 days – depending on your settlement period. 

Pro: You’re aware of the costs from the beginning 

Buying an established home means you’re aware of how much you’re paying from the moment you put an offer in on the house, making it easier to track your other costs such as stamp duty, conveyancing fees, removalists, and the like. 

If this is a feature you’re looking for but you’re still interested in building, the good news is some builders within the Shoreline Display Village offer a price lock – such as Plantation Homes and Coral Homes. To learn more, visit their display homes on Jingeri Street, Redland Bay.  

With a range of land lots and house and land packages now available for sale, you'll find an option to suit your lifestyle, life stage, and budget at Shoreline. With a range of registered lots also available, you can buy now and build sooner – find out more here. 

To learn more, get in touch with our friendly team at Shoreline to secure your dream lot or house and land package today! 

Disclaimer: The information in this article is general in nature and should not be considered as personalised financial advice. Consult a qualified financial professional before making any financial decisions.