Real Estate In Australia - New And Resale Homes
July 31, 2008 by Mira
The thought of living in your dream possession that has been furnished with new gleaming furnishings is thoroughly an exhilarating feeling. We all are aware of the fact that purchasing a home in a place like Australia can be a fund draining experience. Hence, you must not give up the option of looking at resale homes in your look-out for your dream house.
The very thought of resale homes may bring in to your mind a house that is almost in a dilapidated condition with damaged windows, cracked ceiling and floors, rusted wires and broken pipes. No, this might not be the actual case of all resale homes! You can be successful in enjoying some additional benefits while going in for resale homes instead of freshly constructed houses.
The most important factor to be considered is the cost. It is well known that pre-existing houses tend to be comparatively less expensive than newly built houses. The additional difference in the cost of a new home might be attributed to factors like current cost of the land, prices of construction materials, labor costs etc. Hence, if you locate a resale home that suits yours requirements, you may think seriously about buying it.
Another common problem that is encountered with to-be-completed homes is that of noise pollution. Many of these projects are slated to accommodate hundreds of homes and take some years to be fully complete and ready for possession. Hence, if you happen to be one of the first early occupants, you will be forced to face the problem of traffic congestion, construction hazards and noise pollution. These issues are totally absent in the case of resale homes.
However, if you are buying a brand new home, the other major accessories like the furnishings, bath and kitchen fittings, and floor tiling can be decided well in advance to suit your styling requirements and budgetary limitations. In the case of resale homes, you might face stiff opposition from the rest of the neighbors in case of undertaking complete renovation of the interiors of the house.
While considering resale houses, please remember to go through the records of previous payment made by the earlier owner towards all amenities. In case of arrears being built up, you might face acute problems while moving ahead of your furnishing plans in the home.
Can You sell Easily if You Want To?
If you purchase a home which is a part of a major construction project that spans over a couple of years and you decide to sell your property even before the entire project is completed, you must bear in mind that you will be competing with the real estate developer. This might have its impact in the time taken to sell and the price quoted for your brand new home.
Hence, while embarking upon your dream journey of buying yourself a cozy and comfortable home, consider both newly constructed and resale houses. Weigh the pros and cons of both options and make the life-time decision a wise and happy one.
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