Should You Buy or Build Your Dream House?

28 August 2018

When you’re looking to invest in property one of the first questions you’ll be asking is whether you want to build or buy. Are you better off to search for houses for sale, or to work with a local builder to create a new home on your block of land?

There is no one-size-fits-all answer, and the right decision for you will depend on your future goals, financial standing, current investments and desired location. For some, building provides the perfect opportunity to tailor a personalised lifestyle and home. Others will fall in love with the existing layout and location of a built home, or prefer the certainty of an existing property for their investment.

Advantages Disadvantages
Buying • What you see is what you get, including design and build quality.
• You can move in sooner after settlement.
• Landscaping, plumbing and electricity are usually already completed.
• Some features may not be to your liking, which can be addressed through renovations.
• It can be a challenge to find your dream home in the location you like unless you use an agent.
• Older homes can have additional complications and expenses.
Building • You’ll have complete control over the design and build quality.
• You can choose and work with whichever builder you prefer, receiving a warranty for the work.
• You can create a home in your choice of location (subject to zoning and planning applications).
• Building takes time, so you’ll need to live elsewhere while your home is completed.
• There may be extra costs involved in the laying on of electricity and/or water.
• You’ll need to arrange your own landscaping and final touches unless these are included in a package.

Where do you want to focus your energy?
One effective way to decide whether to buy or build is to think about where you want to concentrate your time and efforts. If you’re looking to create or find your dream retirement block, then you could start enjoying your newfound freedom immediately by finding the ideal property (where someone else has already done the hard work). Or, if you finally have the time to design and oversee your long-planned development project then you’ll want to locate the perfect block as a starting point.

If you’re searching for acreage or a lifestyle property around Sydney then you will also want to factor in the additional requirements for these blocks. There can be a huge amount of work that goes into new fencing, landscaping, shed construction, water systems and yards. By choosing to buy or build you’ll ultimately be choosing the power to design your own property or the efficiency of having it all completed before you buy. Remember that by working with the right property agent, you shouldn’t have to significantly compromise on your preferred location, features and layout.

Whichever way you choose to invest, the best way to get started is to browse land and houses for sale in Sydney and surrounds.