With so many housing options available in Australia, it can be hard deciding which area is best for you. Whilst it may seem like a daunting decision, and quite an important step into owning and building your own home, we’re here to make it all a bit easier. We’ve compiled the pros and cons of building in an estate or an established area, so that you can start to figure out where you want to be in your future home. If you are looking for land for sale or already starting to think about the process of building a house, this blog will help get you thinking in the right direction.
The Pros of Building a House in an Estate
Affordability and Plenty of Land for Sale
The most obvious advantage to building in an estate is the reduced cost associated with land packages. Land for sale on the fringe of an urban metropolis will be cheaper because it’s further away from the busy CBD. The all-inclusive set up can alleviate stress when making financial decisions around how to proceed with your first home. Building in an estate that’s being established also includes future employment opportunities, therefore adding value to your property as the community grows. This also makes it a fantastic investment opportunity.
A Streamlined Process for Building a Home
Another benefit to building a house in an estate is the streamlined process surrounding the build itself. By utilising the knowledge of established designers, the stress surrounding endless design decisions is alleviated and you can feel safe knowing your home will remain stylish in the years to come.
An Established Community
Building further away from the city can seem daunting when looking at established areas, though as life becomes busier, getting away from the hustle and bustle can be a great decision when raising a family. Land for sale in estates is also great for families, as you can feel safe knowing that your kids are growing up in a supportive community, surrounded by large parks and lakes, perfect for picnics on a Sunday afternoon.
The Cons of Building a House in an Estate
When building a house in a suburb in a growth stage, amenities and employment opportunities are still being established. While some may enjoy the peace of an estate, being far away from the CBD can be daunting, especially when there’s limited choice for schools and work.
Best for: Investment Properties and Upgraders
Maintaining a streamlined process while offering a wide range of customizable packages means that buying a house in an estate is a great choice for any type of builder including First Home Buyers, Investors, Downgraders and Upgraders. If you’re looking for a way to break into the investment market or already have an impressive portfolio, the price point and growth potential of estate properties is a real driver for purchase.
The Pros of Building a House in an Established area
Existing Value For Home Buyers
When looking to build in an established area, the most obvious reason to do so is the existing value associated with the suburb. Amenities and employment opportunities are already evident, meaning planning for a future can be an easier process. Having those resources in close proximity to your home adds immediate value, and a clearer understanding on how the value of your property might change in the future.
Additional Design Control
Building on an established block of land also allows for more creative control when designing your home. There are fewer rules you’ll have to abide by and you won’t have to manage developer or estate expectations, giving you the freedom to design your dream home.
The Cons of Building a House in an Established Area
Due to the immediate value associated with an established suburb means that land is generally more expensive in these areas. If the land you purchase requires knocking down an existing property before you build, additional costs will need to be taken into account.
When building within an estate, the day-to-day admin processes surrounding planning and approvals sits with the estate, leaving your experience stress free. Building in an established area means that you will be responsible for organising all plans and approvals so that the property abides by council regulations as well as established community expectations.
Best For: Downgraders
When building in an existing suburb, there are many things to consider, price being one of the main challenges. If you have a larger budget available, existing amenities, time on your side and employment opportunities provides the security of guaranteed value. This option may be more suitable for downgraders looking for a smaller place to move into rather than a large, family or open plan home in an estate. For First Home Buyers, whilst these areas can be very enticing, they can also be at a very high cost and with very little design flexibility, without doing a knockdown rebuild, which is a whole other set of costs.
If you’re feeling a bit lost at where to build the best home for you, we can help. We can help sort through your needs and figure out where the best area is, and the designs that will be best suited to your lifestyle. To have a quick chat about your needs and wants from an area and your new home, give us a call on 1800 184 284 or book a call on our website.