BUYING NEW, IS IT FOR YOU?
There’s plenty of pluses, if you do the resarch and checks
There is no doubt that many of us relish the chance to buy a new home, as opposed to the used version. And why wouldn’t you? Everything new, under warranty, the latest designs and fittings, no modernisation or renovation required.
Move in, hang your pictures inside, plant some flowers and shrubs outside, sit back and enjoy. For many, this is the perfect housing option as a first home, investment property, downsize or upsize.
However, that feeling of low-risk, carefree home purchasing can lead to a false sense of security. Here are my top ‘buying new’ warning tips. Never expect to make a quick profit. Already constructed? Have your new home professionally checked throughout and look yourself.
Off the plan? Do the vital research, acknowledge exactly what you are getting and ask many questions.
Know your title, community title, freehold, body corporate, zoning, shared drives/access, easements, obligations. Don’t forget adjoining land and that zoning – what is it now, what can it be?
Buying a block? Make sure you know the parameters of development approval, covenants, guidelines for heights, set backs, council guidelines, drainage, fencing etc. Obtain an independent soil test.
Understand local house prices and compare value.
Never buy without a site visit.
Familiarise yourself with the area.
Use email to log any changes in writing.
Selling Houses Australia Andrew Winter is host of