New, established or off-the-plan: Which home option is right for you?

There are plenty of options when it comes to buying a home. Among the most common are off-the-plan, established or a knockdown-rebuild.

Theo Koutsikamanis of Bastion Property Group, who lists this week’s Ainslie feature property, says the home is an example of how a new build on an old site is helping to breathe fresh life into an established suburb.

“Buyers are definitely attracted to this type of product where all the work has been done,” he says. “There’s still a lot of uncertainty around [construction] costs and timelines – a turnkey project like this is very appealing.”

Koutsikamanis says established homes that may be a few years old are also popular with buyers.

“It’s a similar story in which buyers are looking for homes where nothing needs to be done, or it’s not critical to have any substantial work done in the short-term,” he says.

Apartment specialist Boris Teodorowych of Boris Property says the apartment market is somewhat fragmented.

“There’s a lot of complexity in terms of red tape and rising costs,” he says. “Off-the-plan high-density apartments definitely reflect that with prices hitting as much as $12,000 per square metre.”

Teodorowych says that previously built apartments of a similar size can be significantly more affordable.

“It’s somewhat of a two-speed market with some buyers willing to pay higher prices for brand new,” he says.

Teodorowych says another popular product is the boutique type of luxury apartment development that appeals to downsizers seeking quality and privacy.

Benefits of different options

New

There’s nothing like the appeal of a brand-new property and being the first to own it. Other benefits include the incorporation of the latest fixtures, fittings and finishes – and lower maintenance requirements.

Established

Aside from the benefit of being able to move in straightaway, established homes are usually in suburbs that enjoy the infrastructure of schools, shops, public transport and other amenities.

Off the plan

This option can help fix costs and provide confidence around completion dates, though buyers should take independent advice. Buyers can also inject a level of customisation into colour schemes and materials.

Feature property

“Everything old is new again” – that’s the story continuing to unfold in Canberra’s established suburbs as modern classics arise where more basic dwellings once stood.

And that’s certainly the tale behind this new contemporary beauty in Ainslie, right on the CBD doorstep.

Designed by award-winning architect Terry Ring, the two-storey family home offers refined elegance. It takes full advantage of its 875-square-metre block and surrounding views.

View property

First the headlines: four bedrooms, four bathrooms, three living areas, a pool and spa – and a pool house.

There’s some whiz-bangery at the front door. Opened via fingerprint, digital code, Bluetooth or key, it’s enough security tech to shame a bank.

Internal highlights include engineered hardwood timber floors, soaring ceilings, electric blinds, and large, high-set double-glazed windows and sliding doors that draw the outdoors in.

The ground floor houses the main-bedroom suite – with a walk-through wardrobe and a luxurious en suite – a study, formal lounge and the central family-dining-kitchen zone.

The chef’s kitchen delivers two-tone custom cabinetry, marble splashback, a centrepiece kitchen island and a butler’s pantry. There’s plenty of brand hardware, including multiple ovens and wine fridges.

Upstairs offers three generous bedrooms, one with an en suite, and a living area.

The outdoor area claims “resort-standard” with fully landscaped gardens and stunning travertine paving sweeping the entertaining space and around the sparkling pool and spa – plus that pool house with its own bathroom and bar.

The double remote-controlled garage seamlessly blends into the exterior cladding and is future-proofed with an EV charger.

Or try these

View property

Price guide: $1.19 million

Private sale

Agent: Ray White Canberra, Kate Coultas 0404 857 929

View property

Price guide: $1.95 million

Private sale

Agent: Berkely Residential, Bill Lyristakis 0418 626 593