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New or Established? It's a No Brainer

JAC Homes • Oct 01, 2019

Of course I am going to tell you the benefits of building new but I think you are going to want to listen why.

I have had several phone calls recently where the client has said to me “oh I am just trying to work out whether to build a new home or buy established.” To me it’s a no brainer, build new, yes, I am the builder and of course I am going to say that. But I have brought established homes and I have built my own home. I will tell you my personal feelings on each scenario, I will let you decide whether I am justified sprouting the virtues of building new. 


Every time I brought an established home, before we fully moved in, we felt the need to make it our own, we just wanted to feel like we invested a bit of ourselves in the home, even though we did these things and we were satisfied with the end result, it was never truly enough, I remember pulling up tiles in the toilet and the overwhelming stench of built up urine accidents over the years making me gag, we would repaint the walls or change the carpets again the smells were unbearable from all the accidents that had soaked into the carpets and penetrated the floor boards even though they had been professionally cleaned, there was always the ghost of someone else’s home not ours, maybe benches in the kitchen were too low for me and would give me a back ache robbing me of my enjoyment of cooking, or they should have put the window here so I can keep an eye on the children playing in the back yard, in the end it was just not right and not long after I would be dreaming up my own ideal home, how it should be, I would spend hours drawing up plans changing it and changing it until the point I couldn’t change it any more and then I knew it was perfect, I played out every scenario for every room until I knew it was just right, how would the furniture fit? how would we get enough light in this space? how would the room evolve over the years?

Yes you did get to move in straight away with an established home, but for me the anticipation of building was way more fun, watching each stage unfold was just so exciting and thrilling, the planning stage, working through your design, picking the colours, appliances and finishes, knowing that yes this is all me not any one else, this is my personality, I am not going to just make do. Then watching the building come to life, the excitement of watching them dig up the ground for the first time, then the slab going down, and then like magic the frame was up and you could finally see your 2D plan in 3D, you could walk through the home imagine a bed there or a lounge here, see your family sitting at the dining table there, the anticipation of building, it was like a kid with Christmas coming (better). Each stage just kept building up the excitement on the previous stage, and as you get closer to the end, the excitement is almost unbearable and then the day you are given the key, oh what a day.
Then there is the maintenance of the established home, now that used to depress me, the last established home we brought was constantly needing repairs, the fascia boards needed replacing, the painting seemed to be endless, the insulation needed to be updated, and even that was not enough because the energy efficiency of old homes are no where up to the standards of new homes, the constant expense of cooling and heating, the oven breaking down in the middle of cooking dinner and then urgently trying to chase one up the next day and organising an electrician on short notice, the hot water system breaking down, trying to chase up a new unit and a plumber the next day while you brave a cold shower in the middle of winter, yes these things will happen with a new home but chances are it is going to be 10 years before they do.
And that is why I think building brand spanking new is a no brainer, of course everyone is different, and building new is not for everyone, but I feel everyone has that secret desire to build their own home, constantly mapping out in their mind, their own unique plan, dreaming of what they will build if they won lotto, I would like to think it is not just me.
By JAC Homes 01 Nov, 2023
The process of buying a new home is an exciting and important milestone in anyone's life. With so many options available, it's only natural to want to explore different possibilities before making a decision. One popular way to do this is by visiting display homes, which are fully furnished and decorated model homes that showcase the builder's work. While this may seem like a great way to get a feel for what's available, there are some compelling reasons why visiting display homes might not be the best idea. In this blog, we'll explore the potential downsides of relying solely on display homes during your home-buying journey. 1. Unrealistic Expectations Display homes are meticulously designed and decorated to create a picture-perfect environment. The furniture, decor, and layout are carefully curated to maximize the appeal of the space. While this can be visually stunning, it can also create unrealistic expectations for what a real, lived-in home will look like. When you visit a display home, keep in mind that the actual house you purchase will likely be an empty shell, waiting for your personal touch. 2. Limited Customization  Display homes are built to showcase the builder's vision, which means they often come with a specific set of features and finishes. This might not align with your personal preferences or needs. If you have specific customization requirements or a particular vision for your future home, relying solely on display homes may limit your options and leave you feeling unsatisfied with the end result. 3. Overlooking Important Details When you visit a display home, it's easy to get caught up in the aesthetics and overlook important practical details. You may be so captivated by the stylish decor that you forget to consider factors like storage space, electrical outlets, or the functionality of the layout. It's crucial to look beyond the surface and assess the home's suitability for your specific lifestyle and needs. 4. Ignoring Location and Neighborhood Display homes are often built in controlled environments or communities specifically designed for showcasing the builder's work. This can make it easy to overlook the importance of location and neighborhood amenities. The proximity to schools, shopping centers, public transportation, and other essential facilities should play a significant role in your decision-making process. Relying solely on display homes may divert your attention away from these crucial aspects. 5. Limited Exposure to Different Builders Visiting only display homes from a single builder might result in a narrow perspective. There are many reputable builders out there, each with their own unique styles, features, and pricing structures. By limiting yourself to one builder's display homes, you may miss out on discovering other options that could better suit your preferences and budget. Conclusion While visiting display homes can provide valuable insights into a builder's capabilities and design sensibilities, it's important to approach them with a critical eye. Relying solely on display homes can lead to unrealistic expectations, limited customization options, oversight of important details, and a narrowed view of available builders. It's crucial to balance these visits with thorough research, consideration of your specific needs, and exploration of different neighborhoods and builders to ensure you make the best decision for your future home.
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Owning your own home is a proven pathway to long-term financial well-being and allows you to plan for the future, which is important, especially if you have a family to look after. If you’re tired of renting and would like to become a new homeowner you will need to take some things into consideration. Work out your finances When it comes to home loans, there is a big difference between what you think you can afford and what you can get approval for. That’s why it’s important to get a better understanding of how much you earn and how much you spend. Ensure you have pre-approval first. There is a bit of misunderstanding in relation to pre-approval. Pre-approval only gives you an idea of how much a bank will be willing to lend you. It allows you to know the maximum amount you can spend on a house, but that’s about it. Pre-approval is often conditional on a successful credit check. If your circumstances change, it’s possible that your pre-approval is no longer valid. Once you know the home you are going to build the bank will require a bank pack, this includes your homes council approvals and your contract so that the bank can value the property, you will need to outlay some money upfront before the bank will give you a loan so having some savings is very important. Construction finance can be complex and the amount of deposit required will vary depending on the lender you approach. Talking to a lender that specialises in construction loans may be a good starting point, because if they do not understand a construction loan, they are only going to confuse the matter. When it comes to building your first home you need to get your priorities straight. Make sure you’re clear on what is most important to you, so we can help you work out what type of home will work with your budget, keeping in mind that your first home will not necessarily be your dream home but it will start you on the path to owning that dream home. What changes when you’re a home owner. Saying goodbye to landlords and moving out of your parents’ home means more freedom. As a home owner you can create spaces for your needs and make your home truly yours. But owning your own home also comes with different responsibilities. You have new bills to pay and council rates due. So, it’s important that you’re ready to manage these and plan ahead. However, the investments you make in your new home will reap rewards. Money that would ordinarily be paid into rent now goes towards paying a mortgage, reducing your debt. As debt reduces and home prices invariably increase over time, equity is created and wealth is accumulated. The current low and relatively stable interest rate environment allows you to reasonably budget for your monthly mortgage repayments. Your landlord can’t suddenly increase your rent when your lease is up. It also means Increased stability, no more packing up and having to relocate if your landlord chooses to sell their investment property. Your home is your own to do with exactly as you wish! You’re paying off your own home, not someone else’s. And most importantly as a first home builder you most likely have access to the $15,000 FHOG and the $25,000 building grant that is $40,000 that that you don’t have to find and added to the equity of your home. So escape the rent trap and contact JAC Homes today to start your new home journey.
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