General Chat Thread

[Rowan]

This is something I've been seeing more and more. There are lots of people moving into newly built homes. I don't think there's anything wrong with it really. Just find it fascinating. Isn't it more expensive? Did you get to pick anything out and ask for specific things or did you pick from the cookie-cutter model? Is it a condo, or a detached home? Do you think you'll need to fix things up once you move in?

Its actually cheaper. When it comes to the cost of owning land and a home, 80% of the cost is going to be the land, houses are not worth that much (unless we are talking mansions). So the land was 180k, house is 160k and then theres about 45k worth of upgrades and on-site costs. We found a floorplan we liked (choosing a floorplan is about as cookie-cutter as it gets) then you literally choose everything else. This will include render, bricks, roofing, fencing, colours, benchtops, floorboards/carpets, cabinetry, stovetops, lighting, architraves the list goes on and on. Its a 4 bedroom home with a living area as well as a lounge room and the normal stuffs (bathrooms, 2 pantry, laundry, outdoor area with decking etc) Nothing needs to be fixed up, as its all built fresh and everything will be included as specified.

The reason its more expensive to buy a property is because you are most likely buying a property that is 7 years+ old and the value of it would far exceed that of a new home (since the value of land always go up in price) and you will also pay tax on transfer of home and land.