Should You Buy or Build Your First Home?

Jumping into home ownership comes with a whole host of decisions. Finding ways to finance the property, deciding on the location, and designing the space are all major steps, but the first decision is whether to buy or build.

Is it worth investing in new builds in Auckland? Or is it better to buy an existing property and renovate it? Today, we’re pitting the two options head to head so you can make the call that best suits your circumstances.

More Cost-Effective To Buy Or Build?

Buying an existing home often comes with a lower upfront cost, but that’s not the full picture. Older homes may need extensive renovations, repairs, or major system upgrades. Think plumbing, electrical, or insulation. Hidden costs like these can creep up quickly, making a seemingly “affordable” purchase anything but.

Building a new home may mean more control over the budget. You can decide where to spend and where to save. Consider if the land already has essential services like septic, power, and water. If not, that’s an added cost to factor in.

From a pure cost point of view, new builds Auckland-wide can have a slightly higher initial price tag, but they can provide better value in the long run.

Timelines For Building Or Buying

Timeline is another major factor to consider here. In a hurry to move? Buying an existing home is the faster option. Once the sale is settled, you can move in almost immediately, depending on the home’s condition.

Building takes time. Securing permits, construction, and final inspections: the entire process can stretch from months to over a year, which can vary heavily depending on the contractors’ skill. However, building allows you to create a home that perfectly suits your needs rather than compromising on an existing layout.

If time is a concern but you still want a personalised space, a middle-ground option could be purchasing an older home in a great location and renovating it over time. That way, you get the best of both worlds: speed and customisation. 

Freedom & Control

A new build allows full control over the design. Want an open-plan living area? A walk-in pantry? Extra storage for hobbies? A new build can encompass your wishlist.

Buying an existing home, especially in a competitive market, usually means making trade-offs. Maybe the place has great bones but an outdated kitchen, or is perfectly located but not very spacious. While a renovation may be possible, you must work within the limits of what’s already there.

If making a place your own is high on the list, choosing one of the many spots for new builds Auckland-wide or buying a place with significant renovation potential is the way to go.

Location Location

All about location? Buying an existing home in an established area can be a smart move. This approach will ensure access to schools, transport, and a ready-made community. The downside? Houses in prime spots tend to be older and more expensive.

Building usually means looking at newer developments, which might not have the same level of infrastructure just yet. But if you can find an empty section in a good spot, you get the best of both worlds. 

Another option is to buy in the desired area and renovate. That way, location and design are both covered.

Upkeep & Maintenance

Finally, one thing many people don’t think about when making the call between new builds in Auckland and buying pre-built is how much maintenance they might need to do in the years following their move-in date.

Older homes can have a lot of charm, but they can also come with a never-ending to-do list. From fixing leaks to replacing outdated systems, maintenance costs can add up fast, and these DIY tasks might mean giving up weekends..

On the other hand, new builds are built to modern standards with better insulation, energy-efficient materials, and minimal upkeep. That means fewer headaches and fewer weekends spent fixing things.

Building from scratch or doing a solid renovation is the way to go if you’re not keen on ongoing maintenance.

With all that said and done, your primary consideration should be what’s most important to you. Determine what matters most, assess your options, and consult a qualified builder to find the best avenue for your dream home.

Renovations and new builds Auckland-wide with Harrison Building Company.

Whether buying pre-built or starting from scratch, our certified team is ready to help. We are members of the Master Builders Association, bringing years of industry experience to our work.

If you are looking for an efficient, trustworthy team for a new build or renovation, we can help. Get started today by getting in touch.