24 June 2016 6 min read

Purchasing an existing property or building a new home is the first decision every soon to-be home buyer faces, and it can be challenging to make without the right information. While it can seem daunting, if you do your research and talk to the right people, you’ll be able to see what the best option is for you.

The Big Picture
Unfortunately, it’s not as easy as your dream home showing up before your eyes. A number of factors will contribute to making a decision. This includes your desired location, budget and the type of lifestyle you lead. You may feel a traditional home design is best suited for you, but soon realise you’re after modern features. It’s all about knowing what you’re looking for and seeing the advantages and disadvantages in both options. 

Cost
You will find homes close to the CBD usually cost more because of their unique location. Generally speaking, new homes do cost more than older properties but this trend has shifted in recent years. Due to the rise in innovative home designs as well as smaller lot sizes, newer homes have been made more affordable in a number of regions, compared to the average established house. 

Location

You’ll find older homes will most likely be located in well-established areas with existing services and long-term residents. This is because they are often tailored to the community already living in that area. New neighbourhoods not only bring new homes, but also parks, shopping centres, schools and other communal spaces.

Lifestyle

A new home allows you to build from scratch to suit your lifestyle and to make you happy. This means no more renovations and it will require less maintenance – saving you time and money! You can tailor each design to suit you and your family.

Government Grants

If you’re a first home buyer, you’re in luck! Governments offer a variety of housing grants and stamp duty concessions, targeted at first home buyers. If you’re ready to buy your first home, check the Government bonuses in Queensland, Western Australia, New South Wales and Victoria to see what’s available for people buying of building a new home.

Bricks and Mortar

Having a modern home design over an older property has many advantages. This includes contemporary building codes and standards and insurance-back warranties. Fixtures and finishings are also included, such as appliances, bench tops, lights and door handles – these are ‘standard’ features, which may not have been included in houses built 10-20 years ago. You’ll find current building standards control energy ratings, ventilation, structure, sound, temperature insulation, electrical and fire safety.

If you’re looking for somewhere with great storage options, modern homes are the way to go as they have more storage spaces and focus on outdoor living, which tie in with lifestyle trends.

Maintenance and Renovation

Modern homes are built with a modern lifestyle in mind. This means they require less maintenance, but things will occasionally go wrong and need fixing – nothing is perfect all of the time! For those who love watching renovation TV shows, you may find redoing an older home might better fit your personality. If you have your eye on renovating a property, take into account that it is an expensive and time consuming process. Whereas with a new home, your builder may be responsible for anything that goes wrong, and all appliances will be covered by manufacturer warranties.

Sustainable Living

At Stockland, we are advocates for sustainable living. But what is a sustainable home? It’s one that is more energy and water efficient, making the most of natural sunlight and breezes. Sustainable living limits negative impacts on the environment, meaning a more environmentally-friendly home and it will reduce your utility bills. 

Modern home designs make better use of available space and often come with the latest energy and water efficient appliances, resulting in a more environmentally-friendly place to live. Having a sustainable home design won’t take away any of the beauty of your new home, despite what you might think. Your new abode can still embrace the most cutting-edge design trends. 

Our masterplanned communities are designed to be more sustainable and self-sufficient by having close proximity to shopping centres, schools, parks, transport and job opportunities. This is  one of the best things about living in a new community, compared to older suburbs.

Your Community

Stockland communities are designed from the ground up, making more opportunities to mingle with your neighbours, who could become great new friends. Our tight-knit Stockland communities are extremely high on the liveability scale! Through building these relationships with other residents, there’s likely to be greater opportunities to participate in local events and activities.

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