Stockland - Should I buy a new or old home?

Should I buy a new or old home?

STOCKLAND BUILDING GUIDES

STOCKLAND BUILDING GUIDES – SHOULD I BUY A NEW OR OLD HOME? < PREVIOUS I NEXT > 02

For more information FREECALL 13 52 63The information in this publication is provided as a guide only. All images and statements are based on information available to Stockland at the time of publication and may be subject to change without notice. The contents of the publication should not be considered legal, financial or other professional advice and you should consult an expert before making a decision based on anything contained in this publication. Any references or links to third party websites are for information purposes only and Stockland does not represent or warrant that the information on those websites are complete or accurate, nor does it endorse those websites or any company, product or service mentioned on those websites. Stockland will not be responsible or liable to any person for any loss, damage or injury arising (whether directly or indirectly) from the use of or reliance on anything contained in this publication.

The big picturePurchasing an existing property or building a new home is the first decision every soon-to-be home buyer faces, and it can be challenging to make without the right information.

Tip:Land size is a big factor in the price of a home. Consider how much yard space you really need, especially in new communities where there are usually parks close by.

A number of factors will contribute to making this decision, including your desired location, budget and the type of lifestyle you hope to lead. Some buyers might set out to purchase an older home, but begin to focus on designing a new model if they can’t find the right fit for their needs.

Cost: Homes in older established suburbs near the CBD usually cost more because of their unique location. In general, new homes cost more than older properties. But in recent years there’s been a shift in this trend; innovative home designs and smaller lot sizes have made new homes in many regions more affordable than the average established house.

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Location: Older homes tend to be located in well established areas with long term residents and existing services, which are often tailored for the existing community. New neighbourhoods are emerging in areas where services and facilities, such as parks, shopping centres and schools are also new.

Lifestyle: New homes allow you to build from scratch and let you create a living space that will make your family happy. New models require less maintenance and no renovations – saving you time and money!

Government grants: Governments offer a variety of housing grants and stamp duty concessions, which are often targeted at first home buyers. Government bonuses in Queensland, Western Australia, New South Wales and Victoria favour people for buying or building a new home. Be sure to check what is available to you once you’re ready to buy your first home.

Considerations

There are advantages and disadvantages in both options, which is why it’s important to consider both when making a decision.

http://www.stockland.com.au/residential/building-new/benefits-of-building-new.aspx

http://www.firsthome.gov.au/



Bricks and mortarOne of the biggest differences in new and established homes lies in construction methods and materials used during the building process.

Tip:If you’re considering an older home, a thorough pre-purchase professional inspection is vital to check for hidden issues such as termites or toxic building materials like asbestos.

Modern houses are built in line with contemporary standards as per building codes, and generally come with insurance-backed warranties.

New structures are generally built to a higher specification than older properties. This means fixtures and finishings like appliances, bench tops, lights and door handles are “standard” features, which may not have been included in houses built 10-20 years ago.

Current building standards regulate energy ratings, structure, ventilation, sound and temperature insulation, electrical and fire safety.

Modern homes tend to have more storage spaces and focus on outdoor living to tie in with lifestyle trends.

Hint:Stockland Display Villages are a great way to experience different floor plans in one location. Take the whole family along and see which designs they favour and will best suit your lifestyle.

Find out more

http://www.abcb.gov.au/about-the-national-construction-code/the-building-code-of-australia



Things will go wrong occasionally and need fixing but the newer the home, the less likely you are to be spending money on maintenance.

Modern homes are built with the modern lifestyle in mind, and tend to require less regular maintenance. If your home is new, your builder will be responsible for defects and your appliances will be covered by manufacturer warranties.

If you’re inspired by renovation TV shows, recreating an older home might better fit your personality.

Many Australians look for a good deal on price for an older home they plan to renovate. But just remember that renovating is an expensive and time consuming process that will still involve some compromise.

Maintenance and RenovationWhile home ownership has long been considered the Australian dream, there are elements of responsibility, like the maintenance of a home.

Find out more

http://housinglocal.com.au/



Sustainable livingSustainability is an increasingly popular factor that can influence the decision to build new or buy an established property.

A sustainable home is one that is more energy and water efficient, and will often attempt to make the most of natural sunlight and breezes.

Essentially, sustainable living is concerned with our impact on the environment, our surroundings and the future.

A sustainable home is one that is more energy and water efficient, and will often attempt to make the most of natural sunlight and breezes. New homes are generally built to a higher energy star rating and may come with the latest energy and water efficient appliances. This means a more environmentally friendly home, and will reduce your utility bills. A sustainable home will make better use of the available space and is more likely to be suitable to the needs of its occupants.

New masterplanned communities are designed to be more sustainable and self-sufficient than older suburbs.

This is evident in terms of the location of parks, shopping centres, schools, transport and job opportunities. Networks of walking and cycle paths create alternative travel routes between your home and nearby services, which help to reduce the use of cars within the community.

Find out more

http://www.energyrating.gov.au/



Established homes are generally located in older areas, which may have established services and infrastructure that was designed for a smaller population.

New homes are more likely to be located in newer communities that require forward-thinking and future planning to ensure they meet the requirements and services that residents need now and for generations to come.

As a new community is built from the ground up, there are more opportunities to socialise with your neighbours, who could become great new friends. As new social groups are formed, there’s likely to be greater opportunities to participate in local events and activities.

Residents of Stockland communities boast a higher quality of life and perceived wellbeing. They record an average personal wellbeing of 79%, compared with the national average at 76.4%.

Your communityBuying a home involves more than just finding the right house, it is also important to consider where the house is located.

Find out more

Residents of Stockland communities boast a higher quality of life and perceived wellbeing.

http://www.stockland.com.au/residential/stockland-communities.aspx

For more information please call us on 13 52 63 or email us at [email protected]

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Stockland - Should I buy a new or old home?