When it comes to buying a new home you ultimately have two choices: buying an established home or building a new home.
While an established home might seem like better value at first glance – and you can usually move in straight away – that’s not always the case. Here, we break down the cost-benefit of established homes versus building a new home.
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Maintenance costs
There are obviously substantial upfront costs when building a new home. However, the major benefit of building a new home with a quality builder is that your maintenance costs are likely to be minuscule for many years, as everything will be new and under warranty. As it’ll be built to your tastes, chances are that you won’t need to do expensive renovations or improvements for a very long time.
With an established home, however, it’s always a bit of a guessing game as to the quality of the property (even if your building inspection comes back clean). Most of the time, you’ll be undertaking renovations, which can be expensive, and worst case you might discover some nasty hidden surprises – such as old wiring or structural damage – which could cost you thousands to rectify.
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Energy efficiency
Nowadays, most new homes are built with the latest energy-saving technologies as standard, such as double glazing, energy-efficient appliances, solar panels and insulation. Indeed, Hamlan has made it a priority to build energy-efficient homes with a range of energy-saving features, some of which are standard inclusions that come with every Hamlan home.
Building a new home also gives you the opportunity to take advantage of natural orientation to reduce your power usage by making the most of the northern sun.
Established homes typically don’t have all (if any) of these features, and it can be expensive to install them. There’s also no option to adjust the home orientation if it’s sub-optimal.
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Ability to customise
With a custom home, you really can get everything you want – from the design and layout to flooring, fixtures and cupboards. You can put your own, unique stamp on your new home from day one – creating an environment that perfectly suits your lifestyle, now and in the future.
With established homes, you’re often limited by the existing structure – and chances are you’ll find the wall you want to knock through is actually a retaining wall.
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Modern features
New homes can be built with smart home technology, such as automated LED lighting or climate control systems. This technology is designed to make day-to-day life easier and more convenient, and can help save energy costs.
As with energy efficient features, fixtures and fittings, you may not get the latest in home design trends or features with an established home. Upgrading your property to take advantage of the latest technology or design features could be expensive – if it’s possible at all.
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Open floorplans
Lastly, current new home floorplans are masterpieces of open design – maximising space, creating seamless flow between indoor and outdoor spaces, and create a sense of openness while ensuring privacy when you need it. This is a great benefit for entertaining and family gatherings – as well as making everyday life smoother and more comfortable.
With established properties, you’re stuck with the floorplan that was designed when the house was built – which could reflect design trends from 20, 30 or even 40 years ago! Open plan floorplans often don’t flow as well – especially to outdoor areas – and may not even be possible, depending on the house’s structure.
Also read: 5 reasons to build your forever home in Greater Geelong
New home building with Hamlan Homes
Let Hamlan help you build the home you’ve always wanted. As Geelong’s leading new home builder, we offer a stunning collection of new home designs for aspiring homeowners.
With nearly four decades of history building homes in greater Geelong, and as recipients of the 2022 Master Builders Victoria, South West Residential Regional Builder of the Year Award, you know that you’re in safe hands with Hamlan.
Browse our current home designs and speak with a member of our friendly team to discuss your future dream home.
