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The Pros and Cons of Buying New or Existing Property

Is it better to purchase an established property or something new?

Just like the smell of a freshly purchased car, some people really vibe on having a brand new house that no-one’s ever lived in before. It’s free of defects and nothing needs to be repaired.

While they’re often built in up-and-coming areas with brand new parks and facilities nearby, new developments tend to lay on the outskirts of cities, with limited access to public transport.

Existing homes on the other hand tend to be in established suburbs that are close to amenities such as hospitals, schools and transport. They might need a lick of paint or even a full face-lift but the cost of those repairs are minimal compared to the overall value of the house.

Stamp duty exemptions are also something to consider.

If you’re looking at buying property and wondering if you are eligible for a stamp duty exemption, get in touch with Fidget Money!

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