New Build vs Older House in South Africa

When you’re looking for a new home, you have to make decisions, and one of the most critical decisions you must make is whether to build a new house or purchase an older property.

In South Africa, this dilemma is a little more sophisticated, primarily due to the inflated expenses of building your own home and the scarcity of land, as well as the general location of older properties. In this article, we’ll explore some of the key points to consider when looking at property in South Africa.

The Difference Between New Builds and Older Properties

As the name suggests, new-build homes are homes that were recently constructed and have never been lived in. On the other hand, older property is a property that has had at least one owner.

While most modern homes are often referred to as new builds, they would be classified as an ‘existing home’ if they have ever had any residents.

The key differences between these homes have to do with how long the house was lived in before you, the condition of the property, and the price of the house in relation to its condition.

New Homes

Whether a new build or an old property is best for you will largely depend on your personal needs and what you want from your next property.

For new homeowners, the decision might seem arbitrary on the surface - new homes are, well, new, which implies some pretty apparent advantages to you as the homeowner. You’re able to choose the floor plan and begin your new home life with state-of-the-art appliances and updated amenities.

But you may have some limitations as to where you’re able to build your home, and you might learn that the costs of construction are too steep for the potential benefits.

Old Property

Older, existing properties offer the buyer a little more flexibility, both regarding location and cost. Of course, old properties are not without their own set of disadvantages.

It can be quite a mission to secure funding and financing for old properties, and there’s generally more competition when it comes to purchasing older homes. What’s more, you also can’t move an existing property (at least, not very easily), so if you find an old house that you fall in love with, but you don’t like the area, then you’re either going to have to settle for living in an area you don’t like, or you’ll have to find another house.

There are many things that you should consider when you are purchasing your first home in this country, and it’s essential that you look over all of the variables. Owning your first house is a big responsibility, and you want to be sure that you’re making the right choice.