15 Advantages of Buying an Established Home

by Expert Valuer // in Read This First

When it comes to purchasing your home, the decision between a brand-new build or an established one can be a defining choice. While the allure of a never-before-lived-in dswelling has its appeal, the charm and practical benefits of an established home should not be overlooked. From immediate move-in possibilities to the unique character and history that comes with an older property, the advantages are diverse and abundant. In this blog post, we'll explore 15 compelling reasons why buying an established home might just be the perfect path for your next real estate venture. Whether you're a first-time homebuyer or a seasoned investor, these insights might reshape the way you approach your next property search. Let's dive in!

Here are the 13 advantages of buying an established home, not in any particular order of importance:

  1. 1
    Mature Landscaping - Established homes often come with mature gardens and trees, providing instant aesthetic appeal and potentially saving you time and money on landscaping.
  2. 2
    Character & Charm - Older homes may have unique architectural features and designs that offer a sense of history and character not found in newer constructions.
  3. 3
    Move-In Immediately - An established home is typically ready for immediate occupancy, which can be more convenient if you require immediate accommodation. There's also no need to continue paying rent while waiting for a dwelling to be built, if you opted for an Off-the-Plan or House & Land purchase.
  4. 4
    Established Neighbourhood - Buying in an established area means immediate access to existing community amenities like schools, parks, shops, and public transport. There's no need to continue waiting for 'Coming Soon' amenities. 
  5. 5
    Potential for Renovation - For DIYers and handy persons, an established property may offer opportunities for renovation or improvement, potentially adding your personality to the home and its value.
  6. 6
    Stable Property Values - Established neighbourhoods often have more stable property values and a track record of growth, which can provide confidence in the investment.
  7. 7
    Better Built - Older homes might be built with techniques and materials that are no longer used today, sometimes resulting in a more solidly built home. 
  8. 8
    Potential Cost Savings - Brand new homes attract GST and hefty marketing costs (particularly, in new housing estates) that are passed on to the purchasers. You don't pay GST and at most, a fraction of passed-on market-costs for established homes, hence saving tens of thousands of dollars.
  9. 9
    Known Neighbourhood Character - In neighborhoods that have been around for a while, the character and communal atmosphere are well-established. This allows you to more accurately assess whether the area aligns with your lifestyle and personal preferences.
  10. 10
    Ancillary Improvements - Established homes often come with additions such as decks, pergolas, patios, 'granny flats,' or cubby houses that you would otherwise have to build yourself, thereby saving time and money.
  11. 11
    Know What You are Getting - Unlike Off-the-Plan and House & Land purchases, an established home can be physically inspected. This allows you to see exactly what you're purchasing, rather than relying solely on floor plans and artist's impressions.
  12. 12
    Established Schools & Services - Older neighborhoods often have well-established schools, healthcare facilities, and other essential services.
  13. 13
    Room for Negotiation - Sellers of established homes might be more open to negotiation, especially if they are motivated to move quickly, offering potential financial benefits to you.
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