Should I build or buy an exisiting ?

[KitKat]

I am looking to move into a new place sometime this year or maybe next, but I can't decide on whether to buy a house off plan, or to buy an existing one.

What are the pros and cons of either way?

[Carl Taylor]

what are your long term goals?

is this a place you plan to live in for many many years?

or something to make money on?

[KitKat]

We plan on living in it for about 3-4 years then renting it out as an investment property.

I have been speaking to a few people, and they say if this is the case then it may be better to buy an off plan type place as you can get discounts on stamp duty, and when you go to rent the house there are depreciations we can take into account on the property.

Does anyone know much about this at all?

[Lifesboxmodularhomes]

ezinearticles.com/?Build-A-New-House-Or-Buy-An-Existing-One?-Use-Your-Head-And-Your-Heart&id=164311

Hi KitKat, I do hope this article could support your idea. I can not put the HTML Link now, just copy and paste into browser.

[HWT]

We're building a new house, it should be ready by February. The big downside is you can't walk into it and get a feel for sizes. Its fine if you know that XxY is a good size because you've had it in another house, but if you don't know you might wind up with spaces that are too big or too small for you. But then, that's why they have display homes.

[sorcar]

Ive built two brand new houses.

Remember there are many costs that are not written down on a contract when it comes to building a house.

Having said that and if done correctly you can instantly build and sell for a profit in a good area.

[Karl Thew]

I'm guessing it is too late for you now KitKat, seeing as you wrote this almost 3 years ago but i'll throw my 2 cents in for anyone else it may help.

The beauty of an existing house (for an investment property) is that it's already there and ready to rent out straight away so you don't have the holding costs with no rent coming in while you build. If it's a pretty new house anyway you will still be able to use depreciation to lower your taxable income and gain the tax benefits. Depreciation can be quite substantial in improving cash flow.

The beauty of building is that you will only pay stamp duty on the land, which can lower your stamp duty quite significantly. You will also get the full benefit of depreciation. Renters are also willing to pay more for a newer house, and it is easier to rent out.

As sorcar mentioned when building a new house it is important to take into account costs which aren't written down, such as holding interest during the build, and you will also want to account for finishings (such as tv antennae, air conditioning etc) and landscaping, which can cost anywhere from $4,000 to $15,000 for an average house). Also it is important to try and ensure that the build contract is prepared as a fixed price contract, so that the builder can't then go and add all sorts of extra costs for footings etc. afterwards.

Feel free to ask any questions and I will do my best to answer them. I work for a property investment company called Investa Solutions (www.investasolutions.com.au) (we are currently working on a new website, so please excuse the bad current one.) or visit property.investasolutions.com.au for our selection of investment properties around Australia. We will have a few more coming up in Victoria over the next month or two.

[AlbionColt]

For conducting best services in your office it is very important to have a big office space so there is no problem in ventilation and also fresh air also enter to our place. Also there will be that much space so that particular meetings can be conduct at that place. So for a good virtual office there should exist an office space. It’s a good kind of place to have a conference meeting there more important it’s a great place to feel environment.