Advantages
Existing properties will be in established suburbs and likely close to services, transportation and central business areas.
Older properties may be cheaper than newer properties
Existing properties can be renovated into your dream property.
Disadvantages
Established properties may require repairs or upgrades, depending on the age of the property.
There are no stamp duty exemptions for buying existing properties.
There’s three basic decisions to make when you’re picking the type of existing property to buy - will it be a house or unit, and where to buy.
Here are some of the advantages, disadvantages and considerations of your options.
