Buying a Home Vs Building from Scratch


Finding a new home to live can be accomplished in a number of ways. You can buy an existing property, you can demolish an existing property and build a brand new dwelling, you can buy off the plan, find a home and land package, or just secure the land and undergo the building process yourself if possible.

Buying an existing property is by far the most common option, but many people choose to have their dream home built from the ground up. So which option is the best avenue to choose?

Purchasing an existing home: 

This option is preferable for those under time and budget restraints. Finding an ‘older’ property may not tick all of your boxes in terms of style, amenities and floorplan, but it will offer other advantages such as convenience, location and land size.

Local facilities

As inner-city vacant blocks of land are very rare, building your own home would limit your available suburbs. This is where buying a house can be better for those looking to remain close to certain locations such as schools, hospitals, shopping districts or the city itself.

Land size

Land sizes used to be much more generous, meaning existing properties will have more options for spacious backyards and larger home designs.

Time and money

Once you find the right home, you can make an offer and negotiate until the property is yours. When you opt to build, you not only have to find the right block of land, but also the builder or architect to construct it. This will only add to your timeframe and budget.

Building your home:

Having complete control over your home design from day one is perfect for individuals or families looking for something specific and custom to their needs.

Create that dream home

From that third bathroom, to the spacious kitchen, open floorplan and extra hallway cupboard, the sky’s the limit when it comes to crafting your very own castle.

Cheaper in the long run

While you may have to spend more in the beginning, most new homes should be built to modern economic and sustainable standards, meaning less energy and maintenance bills in the years to come. Older homes contain more wear and tear and will most likely require on-going repairs to keep up-to-date.

Under warranty

Most reputable builders or architects should offer workmanship warranty, meaning any issues or defects with your new home will be covered for the near conceivable future.

Now that you have a better understanding of the pros and cons involved with both options, the decision comes down to what you place a greater priority on!