Existing Homes vs House & Land

Common Sense and Market experience will guide you …

Deciding on whether to buy an existing property through an Estate Agent or whether one should invest in an Off the Plan Apartment / Unit or a House and Land Package is a new age old dilemma.

What we mean by traditional Real Estate is property that has already been built and is back on the market via an Auction or Private Listing.

Besides the fact that purchasing an existing property on the open market is difficult to access what you want, there is also a lot of competition exploring the same property opportunities that you are exploring.

It’s rare to walk in to the first place you see and buy it. Usually there is a lot of time wasted opportunity and money to be out-laid before you finally make that important purchase. What about the ongoing stress of it all?

There are a host of cash costs that you will have to fork out for. Pre-purchase, or due diligence, fees are another often-overlooked cost that can creep up on you. Building, architect and pest inspections, as well as valuation fees, can all add up to many hundreds of dollars. Then add full Stamp Duties onto your purchase price.

The biggest hidden cost of all is the cost of procrastination; invest today rather than tomorrow. By not finding the “perfect” property on the open market … you are Procrastinating!

Setting up your pre-purchase finances can add to the bills, such as account and mortgage establishment fees.

Comparison chart …. Open Market vs Off plan House and Land Packages

 

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