How to decide on whether to buy an old or new property in Canberra

Buyers weighing up an old character property or, perhaps, a new build packed with the latest lifestyle options need to carefully think through their decision.

Local agents say there are many factors that can influence that choice and list their top pros and cons for both.

Brenden Blewitt, of Blewitt Properties, says the choice between old and new largely depends on who is looking.

“Many people are firmly in one camp or another – some will only ever consider new and others character,” he says.

“Younger families and professionals are often looking for new properties on smaller blocks that require less maintenance. They’re also looking to move into areas that are well-serviced with amenities and infrastructure.”

Blewitt says older buyers are drawn to established character homes for their block size and their proximity to the city or other precincts such as Manuka and Kingston.

Louise Harget, of Belle Property Kingston, says character homes have a wonderful feel, something hard to replicate with a new build.

“But buyers need to expect idiosyncrasies and, sometimes, very real challenges around energy efficiency – not to mention heritage restrictions and restraints when contemplating extensions,” she says.

“A new build is simple, low maintenance and has reduced ongoing expenses – a huge appeal to a large section of the market.”

Harget says on the other hand character homes can be adapted to contemporary lifestyles.

“The most successful renovations are those in which old homes incorporate modern needs including bringing in more light while upgrading kitchens, bathrooms and developing an indoor-outdoor connection,” she says.

Old or new: your choice

• Location. Character homes are usually located close to the city and are often sited on much larger blocks. They have a strong appeal to families looking for outdoor play and entertaining space.
• Lifestyle. New homes reflect modern lifestyle needs. They are characterised by flowing, open, floorplans that welcome in light and boast multiple living areas and seamless connections to outdoor entertainment spaces.
• Value. The equation is principally influenced by the key influencers: location, block and home size, condition and features. But the real value is down to the buyer: new or old – what’s your preference?

Allhomes’ top pick of new-build homes on the market:

GRIFFITH

17 Bell Street

$2 million +

4 bed 3 bath 2 parking

Strong lines etch this brand-new residence into its Griffith skyline with masterful architecture ensuring the home also integrates into its inner south landscape.

The modernist theme is also reflected within the interior design of the residence, soaking the home in natural light while providing a seamless connection with the outdoor entertaining spaces.

The living and dining areas are highlighted by oak floors, with the formal spaces divided by a stacked stone floor-to-ceiling feature integrating a two-way gas fireplace.

Of course, the chef’s kitchen is ultra-chic and manages to artfully balance dual ovens, induction cooking, a cafe-quality built-in coffee machine, under-bench fridge-freezer and an integrated wine fridge.

A sculptural aspect to the home is delivered by a sleek staircase with oak tread and a glass balustrade.

There is a separate family room upstairs, ideal for children, close to generous bedrooms and porcelain-tiled bathrooms with free-standing baths.

Outdoor entertaining is provided by wrap-around decks, an alfresco kitchen and a bespoke fire-pit complemented by low maintenance landscaping that is shielded behind the privacy of Leighton Green hedging.

Other features include ducted airconditioning throughout, double glazing, an oversized double garage, dual hot water systems, a 4000-litre water tank, and security and intercom systems.

The Griffith location is close to a range of schools as well as the Manuka and Kingston shopping precincts and the parliamentary triangle.

Auction: 11am, July 21

Agent: Belle Property Kingston, Louise Harget 0412 997 894