Personal

Build or Buy?

If your preferred location is an established suburb you may not have the option of building unless you can find a vacant block or a house that can be demolished.

On the assumption that you can find suitable land, what are the advantages and disadvantages of buying or building?

Buying
Buying an established home lets you see the finished product, in the context of the surrounding houses and general neighbourhood. This enables you to judge the home for street appeal.

All the hard work of establishing gardens, pathways and other finishing touches are usually complete.

You don’t have any of the hassles of deciding on plans, builders, fixtures, floor coverings, and the stress that is caused if something doesn’t go to plan.

You can move straight in at settlement.

Building
You get your choice of everything not someone else’s, including layout, colour schemes, curtains, floor coverings, and fixtures and fittings.

There is no repair work or redecorating required.

If you want a new home but don’t want the inconvenience of building you could buy a “spec” home that the builder has built and is offering for sale.

At the end of the day it is a very personal decision, and it depends on whether or not you can find an existing home that is close enough to your needs and taste. However, before you decide to build you should have a good look at what is available in existing properties, and for what price?