Pros and Cons – Preece Construction

Preece Construction builds new homes or can take care of renovations and additions.

To help you decide what’s best for you, here is a list of pros and cons.

Pros	Cons
Building a new home costs less per square metre than the cost of renovating.	You may need to rent a property while your new home is being built.
As the home is new, there will be less maintenance and warranties apply.	Costs to relocate may include removalists and perhaps renting a storage unit.
Materials used for the new home may be better designed and carry a warranty.	Selling your exiting property may incur real estate fees and stamp duty.
You may qualify for government assistance like a first homebuyer’s grant.	Grants don’t over the cost of relocating.
You only pay stamp duty on the land when you build.	Building takes time and some lenders don’t like that.
New homes are typically more energy-efficient.	Check with the lender about fees for progress payments.

Pros	Cons
You will be able to stay in the neighbourhood that you love.	You may need to rent a property while the renovations are being done.
Renovations will make your home feel like new again.	New materials for the renovation may not match the old.
You don’t need to have all the renovations done at once.	You may have to live with a messy home for longer than you would like.
Personal details like home address won’t change.	Once building begins there may be unforseen costs.
You can give your home a personal touch.	There are no guarantees you will get your money back when you sell the house.