Purchasing a home is not something that you will do twice or even once a year this is a structure that you will live in for many years before deciding to move on, so it is a decision that should not be made lightly. Ultimately, you will have two choices once you have made the decision to move “ to purchase an existing property or to build a new home in Melbourne. Whilst the former may be more cost effective initially, there are actually a number of factors that suggest building is the way to go.
purchase an existing property or to build a new home in Melbourne
There is a common misconception going around that suggests purchasing a new home is more expensive than purchasing an existing one. Whilst this is technically true, many people fail to take into account that maintenance costs can quickly drain any savings that you made. Then there is the issue of renovations and remodeling, which allows you to put your own twist into the home but it will set you back a fair amount of money. If your ultimate aim is to save money, then neither of these options is going to be any good.
Maintenance actually goes quite well with a brand new property, however, as you are able to keep it looking clean and attractive. With an existing home, on the other hand, you will have to try and remove years of built up dirt and grime that previous owners have allowed to accumulate before you can even think about maintaining the appearance of the property. This is often known as restorative maintenance, as you are undertaking work that will bring the property back to its former glory or update it.
When building a home, you are given the freedom to choose the interior design aspects you would like to use, such as the colour scheme and materials. With an existing property, however, these sorts of decisions will already have been made and the only way to change them is to pay to have the walls repainted or the floors re-carpeted. This means that you are spending more money on the house than you would probably like to or afford to. Otherwise you will just have to make do with whatever design is in place.
If you were to purchase a new home in Melbourne, you will be assured of its durability and efficiency. This is because builders are putting their reputations on the line each time they build a house, so they aren’t going to completely ruin it by making some novice mistakes. If you were to purchase an existing property, however, you would be given no such guarantees regarding its quality. This means that any problems that arise are your responsibility and yours alone“ no one else is going to pay to fix them.
If you have made the decision to pack up and sell the home that you currently live in, you will have to make a decision on whether you will purchase an existing property to call your own or whether you will build a new home in Melbourne. It is important that you carefully weigh up the pros and cons of making each of these decisions and that you choose the one that is right for your family. If you have the time and the funds, however, we would recommend that you consider building as your best option.
Author Bio: Joe Tabone the owner of Evenwedge Homes and Australian builder, who helps folk in building New Home for their living.