New Vs Old from an OO perspective?

[TMNT]

so i went to a house where the vendor was looking for some stupidly high figure, even the agent said he is dreaming, but he is isnt budging.

This is established house, original but neat on a 600sqm block

however, just a few hundred metres away, there is a new estate that the asking prices for townhouses on 300sqm blocksare the same as the asking price of this house.

From an investors perspective, we all know buying established is usually better,

however, if you were a young family, stretched budget, and most likely arent even thinking about buying a second property, why would anyone go for an establsiehd old house even though its got a backyard, when you can buy brand spanking new without any maintenance issues a few hundred metres away.

I see a lot of suburbs, where the new dwellings are so competitive in price, I ask myself, geeez, at those prices, my established one must have gone down in value 10%,

Whats everyones thoughts on it?? for example, if I had chosen to live in Melton VIC, id buy brand new for $240k, rather then $230k for an estaliblished average house

 

[Perp]

If I were renting, I'd go for the low-maintenance new-build on the smaller block.

If I were buying, I'd go for the established home on the larger block.

 

[Dbz_Vic]

Very personal decision, and that is where it becomes difficult when you are also an investor. A PPOR is a place you and your family will be living in for many years to come I presume. In terms of making money i have seen people make money from flipping new house+land, and also renovating established however got to take into consideration many other personal factors and variables as well as no one size fits all. I say buy whatever you feel most comfortable with, and what will be good for your family. End of the day family comes first, if not whats the point? Me personally we built our ppor because it was affordable, its brand new (who doesn't like new things?), and it was very close to work. However some days I do think of the what ifs but you will think that no matter what you buy.

Don't forget bigger block = more maintenance, but more privacy. Smaller block = less maintenance, more noise. Its always a compromise.

 

[TMNT]

even though im a hardcore investor,

if I was going to buy a place and live in it for the rest of my life and I wasnt thinking of it from an investment perspective, id definitely go new!

same price, you get a brand new house, smells good, feels good, no maintenance issues,

if I buy established, its older, more maintenance, chances are its uglier/smellier/older fashioned

 

[Angel]

For me it would be "same price, twice as much land. No brainer."..go established just like buying a three year old car for half the price of brand new.

That new smell goes away very quickly and maintenance can be a nightmare if the builder or developer was a bit dodgy.

 

[travelbug]

For me it would be "same price, twice as much land. No brainer."..go established just like buying a three year old car for half the price of brand new.

That new smell goes away very quickly and maintenance can be a nightmare if the builder or developer was a bit dodgy.

I agree. In 10 years time you've got 2 older places, one half the size and worth less than the other.

 

[tess85]

agree - you're paying the premium for buying a "new" place. I'd rather someone else pay that premium, make almost no CG then buy it off them