In the the midst of this, Perth has come out as the most affordable city to build a house in*. Given these findings it is a great time to focus on getting into the property market and putting your home-ownership plans into action.

Here are the quick-fire facts on Perth’s current market conditions:

  • The established market has a median time to sale of 18 days, which makes it difficult for first homebuyers to access this market;
  • There are concerns around availability of rental properties and the quality of the current inventory;
  • Perth’s median house price is $595,823, about $10K under the next most affordable city which is Darwin;

WHAT ARE THE PROS AND CONS OF BUYING ESTABLISHED

Often, established houses have bigger blocks, this provides more physical and mental space for household members. In most cases, established houses are already landscaped with well-established gardens, which takes out a lot of hard work (or adds more if not maintained) and can be immediately enjoyed as soon as you move in, if suited to your taste.

With an established house, you are already able to walk through, physically touching  and feeling the walls prior to potentially purchasing, whilst being able to get a sense of the place. Additionally, apart from waiting for the paperwork, you are getting it immediately and in today’s current climate that is certainly advantageous to many.

With this, we do have to think that with an established house, it is an older one. Whether it be 10, 20 or even 50 years old, this comes with issues of its own.

They inevitably require more maintenance than a newly built one. Perhaps it’s just a coat of paint but it could also be a vastly more expensive problem. Buyers do need to prepare for such situations.

Buying an established house means you are buying one that was purpose-built for society at that time, with the materials they had at hand. So, the function of a house which was built in the seventies is vastly different from what we require in a home today. Not only from a floorplan perspective, but from an environmental and sustainability one, too.

Older houses may not have the energy efficiency rating that meets today’s standards, meaning new homeowners end up paying more to correct this and paying for heating and cooling the house, as well as negatively impacting the environment.

Renovating can be an exciting thought and allows you to make an established house your own, however it can be of huge expense, particularly in a market where building costs have increased, trades are scarce & timeframes have increased.

WHAT ARE THE PROS AND CONS OF BUILDING NEW 

Building a new home does mean that you have complete control of the aesthetics, functionality, future-proofing ability and energy efficiency.

You aren’t buying a floorplan that suited life 20 years ago. Nor are you buying design trends from 10 years ago. New Generation Homes is proud to be at the forefront of innovative, energy-efficient and beautifully designed homes with customisable & flexible floorplans for life now and into the future.

New Generation Homes also offers a choice of the latest innovative construction methods. This means you can choose the method that’s right for you.

FLEXIBILITY IS THE FUTURE

Ultimately a flexible floorplan and meeting today’s energy efficiency standards is what will help future-proof your home.

As we have seen over the past few years, anything could become our new normal so a home that can adapt to the changing needs and expanded social function of a house will ensure comfort and peace of mind. Build future flexibility with New Generation Homes today.

Why not have a look through our home designs today, and start building your home for your future.

*CSIRO Study 2016 – Measuring buildings – Air tightness of new house construction.

All New Generation Home designs meet rigorous energy efficiency and thermal analysis assessments. We have invested in years of technology, research and testing to ensure our newly built homes are sealed air-tight as required – in fact, our homes are 51% better than the national average*.

The Pandemic has had an impact on the building industry and building costs due to supply issues and this has ultimately increased build timeframes – Not all builders are the same, Summit Home Group has helped over 40,000 Western Australians realise their new home dreams in over 40 years. Led by an experienced management team, we have navigated through high-pressure industry environments and are current back-to-back winners of the Housing Industry Association’s WA Professional Major Builder 2022, 2021 & 2020 as well as Master Builder’s WA Project Builder of the Year 2022 and 2021.

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