Should You Buy a New Build or Established Property in Victoria?
/Should You Buy a New Build or Established Property in Victoria?
Buying a home is one of the biggest decisions you'll ever make—and in Victoria, the choice often comes down to whether to go for a shiny new build or an established, lived-in property.
Now, while new builds and off-the-plan developments are marketed with glossy brochures, promises of high-tech finishes, and “cutting-edge design,” the reality is often quite different.
New Builds and Off-the-Plan – Buyer Beware
It’s a tough truth, but buyers need to know: the government simply doesn't enforce the rules properly when it comes to new housing. Sales agents can say just about anything to get you across the line, but what’s delivered months (or years) later rarely looks like what was advertised.
The most common feedback from buyers?
“The place was meant to be finished by Christmas... we didn’t get the keys until the following winter.”
“The brochure said stone benchtops – we got laminate.”
“We thought we were getting a quiet park view – turns out there’s a four-storey apartment going up next door.”
Even when contracts say certain things will be included, the process to enforce it—if it even can be enforced—is slow, expensive, and often more stress than it's worth. By the time you're holding the keys, you're holding a very different product to the one you were sold.
Established Properties – What You See Is What You Get
The real strength of buying an established home is exactly that: it's already built. You can walk through it, inspect every corner, and make an informed decision.
If you're not sure about the condition, you can order a building and pest inspection before you commit.
There are no surprises with fixtures or finishes – they’re all right in front of you.
Settlement dates are agreed up front and generally stick – not “once the builder finishes” or “subject to council approvals.”
You don’t need to wait 18–24 months for construction. Once contracts are signed, the clock starts ticking toward a known date.
Plus, the home is already part of a neighbourhood. You can see the streetscape, meet the neighbours, check school zones, and even test out your morning coffee spot.
The Bottom Line
If you value certainty, timing, and knowing what you’re actually buying – an established property is the clear winner.
New builds can work out, but they’re a gamble. You’re trusting a developer, a builder, and a long list of unknowns. For most people, that’s a risk not worth taking.
When you're ready to buy, make sure your contract and property documents are properly reviewed. We’re here to help you go in with your eyes open and your expectations grounded in reality.