Location and history put established houses in the lead for value for money.
Whether to buy an older, established property or a new one is a choice all house buyers face, whether it’s a first purchase or subsequent buys. However, the same rules apply no matter what the property’s age.
The old adage about location, location, location is vital. Being close to good infrastructure – public transport facilities, schools and a good shopping strip – is important in any property purchase (although such infrastructure is more likely to be well established in older suburbs than new ones on the fringes).
That and the question of aesthetics aside (the latter is sure to play a bigger role in an owner-occupier’s decision), Catherine Cashmore of JPP Buyer Advocates says there are many factors to consider in deciding whether to buy old or new.