The question of building new versus buying existing is one we’re often asked. Making an informed decision is key, because, let’s face it – it’s a biggie! It’s likely you’ll have a long list of must haves, things you’ll put up with and definite no’s. Things like location, number of bedrooms and bathrooms, design features, privacy, sun and heating. A myriad of variables, all needing to be accommodated within your budget.
As new home builders using an innovative building system, we’ve put together a list of the important things for you to consider.
Building New
Pros
- The most obvious benefit to building a new home is the fact that it’s brand new – you’re the first person or family to ever live there.
- A new home is tailored to your exact taste and needs. From the finish and colour of the kitchen cabinets to the carpets and flooring.
- 2020 technology means new homes are warmer, healthier and smarter and they use more energy efficient materials.
- You’ll have very low maintenance costs in the first 10 to 20 or so years.
Pros unique to Longview Homes
- We always build to a guaranteed fixed-price contract — so you know how much it’ll cost before we start.
- Our systems are finely tuned, so every Longview Home is built to the same exacting standard of quality.
- We guide you from start to finish. From plans, drawings, consents, site planning, materials, to colours, fixtures and fittings.
- Metra® Construction Panels replace timber framing and plasterboard making it warmer, drier and healthier.
- The build cost includes all tap-ware and mixers, appliances, joinery, fittings, toilets, tubs and carpets – which you get to choose.
- An estimated allowance for some items, means you have the flexibility to upgrade to your dream kitchen, if you want.
- We’ll be in touch every step of the way, to ensure your new build is on time, on budget and meeting the specifications perfectly.
- If you need site clearing, demolishing existing buildings or bulk earthworks before the build starts, we can help with that.
- We offer transportable small home options. These are fully constructed in our yard then transported to your site in a finished state.
- We’re flexible, so if you want to complete your home in stages, we can build to ‘lock-up’ and then stop.
- Move in sooner with Metra® Construction Panels. Because the panels are so durable and weather tight, the tradies don’t have to wait for each stage to start work. You’ll be raising a glass to your new home in as little as 12 weeks.
Cons
- Building a home, rather than buying an existing one, will test your “instant gratification reflexes”.
- You might have to sell your current home first, which could mean temporary housing in between. However, The Metra® Construction Panels used by Longview Homes means the build time is significantly shorter than a traditional build which average of 4 – 6 months.
- When buying an existing home, there is an assumption that the asking price has the potential for negotiation, whereas negotiation is not typically part of the home building process.
- At Longview Homes, we always build to a fixed-price contract — so you know how much it’ll cost before we start but with a traditional build, costs can spiral out of control due to upgrades, site issues, weather delays and so on.
Buying Existing
Pros
- Convenience is probably the biggest plus to buying existing. You make the offer, it’s accepted and when the deal is done, you move in.
- When your offer is accepted, the price is agreed, so you know exactly where you stand. Be sure to have a full property inspection prior to this stage, to avoid any unexpected big fix surprises later on.
- You might have a preference for a style of home or area that’s not an option with a new build. For instance, if you love older character homes in a neighbourhood that is all older character homes.
Cons
- Settling for less. An existing home probably won’t have all the features on your list of “must haves”. You won’t have the ability to choose or change the exterior paint colour from blah brown to cool charcoal.
- Customising the home to suit your needs and taste can be expensive. You may think you can put up with the 70’s shag carpet but the smell from the previous owner’s dog might be all too much and suddenly that’s another $3,000 for new carpet.
- Maintenance and replacement costs. You’ll probably have had a full inspection of the property before you buy, but unless all the appliances, carpets, window treatments and other such affects are brand new, chances are you’ll be needing to repair or replace them much sooner than you would if you build new.
Which is better – Build or Buy?
Of course, we can’t make that decision for you but we’d love to have a chat about what you need and how we can help you start your new home build journey.
Click here to send us a message and we’ll tee up a time for a chat.
