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Burbank Blog

A few home truths about building a home and all that surrounds it.

To buy established or to buy a home and land package?

24/10/2018


 

TO BUY ESTABLISHED OR TO BUY A HOME AND LAND PACKAGE?

To buy a new place or to build a new place? It really is the age-old question (mainly for those considering whether they should buy an established house or buy a house and land package – kind of a niche group now that I think about it and probably not the age old question I originally thought it to be – so sorry).

Semantics aside, it’s true that there are benefits to each choice and that there are also drawbacks to each. Much the same as eating a boiled egg in the workplace – you’ll enjoy it, but your workmates won’t.  

But I digress – to save us both time, let’s dive into the yays and the nays and find out which choice makes the most sense for you, right here, right now.

HOUSE AND LAND

YAY

Great value

Pairing affordable homes with affordable land, each at a high quality is the aim of most builders and developers who offer home and land packages, so you’re sure to find something in your budget that'll fit the whole family.

Great location within well-connected and planned estates

Estates (where H&L packages are located) are years in the planning, and have been expertly designed to appeal to their residents, so that they buy there! This means it’s likely you’ll reap the rewards of new facilities like schools, sporting amenities, transport links and more!

You get a beautiful brand-new home that you’ve helped bring to life and stinks of your style

Your home is new and it’s all you!

NAY

Distance from CBDs

Sometimes they can be further away from CBDs than you’d like and if your work is city based, sometimes the commute can be too much… this is definitely something to consider if you’re tossing up between buying a house or building one with a home and land package.

Not established – yet.

If you’re one of the first residents in an estate, then they may not yet have amenity they promised, as these ventures can take years to complete. Alas, they will be there one day! You may just need to be patient.

Estate requirements

You’ll be bound to developer requirements which may limit your choices with your garden, façades and fencing – but we can help you navigate all of that!

BUYING ESTABLISHED

YAY

Location

You can weasel your way into those inner-city nooks you’ve been hankering for. Finding land in built up areas like CBDs and their neighbouring suburbs can be a tough slog, so buying established or renting really is the way to go if this is a non-negotiable for you.

Traditional design

Although you can still find Victorian style or Art Deco designs around with builders, they are only mimicking that true traditional beauty, and are less authentic than the ‘real’ thing.

No fuss

The process of buying a new place is far speedier than building a new place, mainly because the house is already built (mind blown).

There is still some fuss however – you'll have to first save enough to buy the house, ensuring you’re able to secure a loan. Then you have to find the house that works for you, within your budget. Then, you buy, assuming the building report is ridgy-didge and that everything is structurally sound. All in all, the process from buying your new place and moving in is around 30 to 90 days!

NAY

Expensive

They can be pricey and the market being as competitive as it is right now, finding and securing that home at a price you can afford may not be the easiest thing after all.

House may have hidden nasties (like when you find a nondescript hair in your restaurant purchased spaghetti)

Plumbing, the house structure, and built-in appliances may be a little worse for wear if your new home is in fact not new, but incredibly old. Be sure to check it’s not wrecked, before you hand over a cheque and learn that it’s a wreck. That'd be a pain in the neck. 

Not crafted exactly to your needs

If you’re buying a pre-existing home then you’ll have to compromise on a few things as it won’t be moulded exactly to your wants and needs - by contrast if you were to build your own home, you could ensure that all of your desired sweet features are included. 

Well that about covers it I think. To view Burbank’s range of house and land packages, head here. Good luck sweet homebuyers – you’ve got this. Oh and if you need anything or just want to chat, do call 13 BURBANK and we’ll sort you out.

Have more questions? Read our earlier blog on 5 tips to finding the perfect home or if you should travel or buy your first home, and make sure you're as informed as possible for your new journey!