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Should I buy or build a home in Perth? The million dollar question!

Should I buy or build a home in Perth

When it comes to buying your first (or next) home, there is often heated debates when it comes to building a new home, or buying something already established. As Perth Finance Brokers, we are often asked this question, and while we can never tell you what you should do, we can always share with you some considerations we had when making that exact same decision for ourselves!

So let's take a look at 3 important points to consider when it comes to buying a home in Western Australia (or anywhere in Australia for that matter!):

1. Location

If location is important to you (particularly proximity to the city), it can be difficult if you are wanting to build a home. Because land in these areas is often already developed on, most land developers often blocks in areas further from the city. The benefit to this distance is that this often makes properties more affordable. Should you wish to say close to the city, you can either buy established, purchase an apartment, or look at buying an older home and completing a "demo build" project.

2. Home Design

If design is important to you, it can often be difficult to find a home you can really 'fall in love' with. In these situations, a new home may be better for you because in most circumstances you can customise your home design, your colour selections and your fixtures and fittings. Should you wish to do this with an older home, you will possibly need to renovate the home you purchase.

3. Timeframes

Say you are in a rental and know that you need to be out of the home in a certain timeframe. Or perhaps you are purchasing a home to accommodate a growing family - these kind of situations are often time sensitive which means you might need to move into a home by a certain date. If this is the case, building may not be the best option for you as building a home can often take 6-12 months (or in recent times much longer), and it is hard to get an exact timeframe for a key handover date until very close to the end of the build.

While there are many other things to consider, these are definitely some important factors I take into account when looking at purchasing a home. If there's anything you feel is important that isn't in this post, feel free to share it below! 👇️



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