First Home Buyers

Building or Buying Your First Home?

If you’ve decided it’s time for a new home, you may be considering whether to purchase an existing home or build a brand new home yourself. Having a hard time deciding? 

While both are great options, there are a number of points to consider that may make your decision easier.

The Benefits of Buying an Existing Home

When buying an existing home, you’ll get the benefits of:

  • Moving in sooner
  • More likely to be an established neighbourhood
  • More opportunity for pre-purchase inspecting
  • The opportunity for authentic architecture from specific periods

The Benefits of Building a New Home

There are also advantages to building your own home, including:

  • The opportunity to build your dream home
  • The ability to customise your home to your exact needs
  • Owning a brand new home requiring no renovations
  • The option to purchase a house and land package

Other Factors to Consider

Regardless of whether you decide to buy or build, there are other important points to consider.

Mortgage and Finance

Whether you’re buying or building, you’ll want to organise pre-approved finance.

Contact your local bank or financial institution to obtain a pre-approved home loan and make sure your request is approved before you start the buying or building process.

Location, Location

Think about what you need for you or your family, in terms of proximity to schools, retail facilities, extended family, entertainment, and travel routes, for example.

Choosing your desired location will be a huge part of your decision whether to buy or build. You may also want to consider looking at areas with growth potential, and checking the local council guideline and planning laws.

The Right Property Manager or Building Team

Whether you’re looking for a property manager to take care of your purchase, or a builder to create your new home, you’ll want to be sure they have industry experience, an established reputation and a positive approach to communication and customer service.

Take a look at our our 10 point guide for more tips on building or buying your first home.

Contact the Rawdon Hills team for more guidance and information about first home ownership. Call our office on (03) 9702 3844, or for sales enquiries, please call (03) 9702 4477. You can also simply contact us online.