Melbourne is one of the most beautiful places in Australia and around the world, with its state-of-the-art urban developments and recreational areas. It is rich in historical and modern elements, artistic features, fun festivals, sporting events, and great food.

If you reside in this state, you're surely living an enviable lifestyle. With every wonderful thing within your reach, there would be no reason to leave.

So, if you're looking to move to any city within this state, you have plenty of options. You can find some of the most valuable real estate properties in Truganina, among many other cities, with its close proximity to the Melbourne CBD, schools, town centre, and recreational facilities. Commuting won't be a problem in the area as well, because it has its own train station.

But should you buy or build a house in Melbourne? Which one allows you to save more?

Median Cost of Building a Home

As of 2019, the median lot price in Melbourne is $330,000. If you construct a house on that land, expect to shell out the estimated cost, which is $195,275. If you combine those figures, you'd arrive at $525,275.

Let's say you've already constructed your house. If so, there are finishing costs to spend for, which would likely be an additional 15%-20% of the total price. There's also the stamp duty unless you're a first-time home-buyer who's granted a concession. In Melbourne, stamp duty cost on vacant land (based on its median price) can fall at $14,870. 

For first-time home-buyers, the First Home Owner Grants (FHOGs) can offset your finishing costs and stamp duty. In Melbourne, you're eligible for a $10,000 FHOG for building a new home with a value up to $750,000. With these in mind, let's calculate all your potential outlay so far, with stamp duty included:

$525,275 + $131,318.75 (additional 25% finishing costs) + $14,870 = $671,463.75. Subtracting the $10,000 FHOG, your the final costs would be $661,463.75.

Median Price For Buying a Home

The median price for buying an established home in Melbourne is $914,518, a figure that's already over $250,000 higher than buying land and building a home. If you factor in the stamp duty, that'll be $964,464. Your FHOG won't be applied if you buy an established home, so therefore, building a home in Melbourne is $303,00.25 cheaper than buying. 

Benefits of Building a Home

You're in control if you build a home. You get to decide its size, layout, and design. The interiors, such as the kitchens, bathrooms, basements, and bedrooms, are all for you to visualize and put to life. The fun part is furnishing. You're free to choose the paint colors, the finishes, the flooring style, cabinetry design, furniture, decor, and light fixtures. Working on those may not be easy, but even so, they're exciting and they allow you to explore your creativity and personal aesthetics.

But while there are benefits, there are also some downsides. Building a home takes many months, and if your old place already got sold before your new home finishes building, then you'd need to find a temporary place to reside in, which means paying for rent. 

The finishing costs are inevitable as well, and as mentioned, they can add up to 25% more to the price you already paid. To save as much as you can, negotiate with your builder. Before even starting on the project, ask them essential questions such as how much money do their buyers usually spend on upgrades, what are the inclusions in the base price, and how much would the finishing costs likely be. 

Play smart by budgeting for the costs you can pay in cash. You may also want to hire an agent because they're experts in negotiation. Get the help you need and with all the hard work, you'd be living in your Melbourne dream house in no time.

295 thoughts on “To Buy or Build a House in Melbourne? Let’s Weigh Your Options”

  1. Pingback: UK Retirees Find The Right Homes Down Under | Ronpenndorf

  2. Pingback: Why Melbourne Draws People from All Over the World | Ronpenndorf

  3. Pingback: Details Make the Difference When Building a House | Ronpenndorf

  4. Pingback:

  5. Pingback:

  6. Pingback: online canadian pharmacies

  7. Pingback: telegra.phHow-Has-The-COVID-19-Pandemic-Changed-Our-Lives-Globally-02-24

  8. Pingback: weruybsd.fireblogz.com39575666four-issues-to-do-immediately-about-online-pharmacies

  9. Pingback: derkuy.timeblog.net45076032key-pieces-of-online-pharmacies

  10. Pingback: list of reputable canadian pharmacies

  11. Pingback: global pharmacy canada

  12. Pingback: canadian drugs

  13. Pingback: graph.orgThe-Way-To-Get-Health-Care-At-Home-During-COVID-19---Health--Fitness-04-07

  14. Pingback:

  15. Pingback:

  16. Pingback: canada pharmacies online

  17. Pingback:

  18. Pingback:

  19. Pingback: seketu.gonevis.comhigh-10-tips-with-order-medicine-online-1

  20. Pingback: canada drug

  21. Pingback: 625a9a98d5fa7.site123.meblogage-dependence-of-healthcare-interventions-for-covid-19-in-ontario-canada

  22. Pingback: hernswe.gonevis.comscientists-model-true-prevalence-of-covid-19-throughout-pandemic

  23. Pingback:

  24. Pingback:

  25. Pingback:

  26. Pingback:

  27. Pingback:

  28. Pingback:

  29. Pingback: hsoybn.estranky.skclankytadalafil-from-india-vs-brand-cialis---sexual-health.html

  30. Pingback: buy cialis without a doctor's prescription

  31. Pingback:

  32. Pingback:

  33. Pingback:

  34. Pingback: ghswed.wordpress.com20220427he-final-word-information-to-online-pharmacies

  35. Pingback:

  36. Pingback: kuebser.estranky.skclankysupereasy-methods-to-study-every-part-about-online-medicine-order-discount.html

  37. Pingback:

  38. Pingback: kerbiss.wordpress.com2022042714

  39. Pingback: heswcxc.wordpress.com20220430online-medicine-tablets-shopping-promotion-one-hundred-and-one

  40. Pingback: canada pharmacy online

  41. Pingback:

  42. Pingback: canadian pharmacies

  43. Pingback:

  44. Pingback: legitimate canadian mail order pharmacies

  45. Pingback: canada pharmacies online

  46. Pingback:

  47. Pingback:

  48. Pingback:

  49. Pingback:

  50. Pingback:

  51. Pingback:

  52. Pingback:

  53. Pingback: canadian pharmacy meds

  54. Pingback: sekyuna.gonevis.comthree-step-guidelines-for-online-pharmacies

  55. Pingback: canadian pharmacycanadian pharmacy

  56. Pingback:

  57. Pingback: canadian pharmacy online 24

  58. Pingback: canadian discount pharmacies

  59. Pingback: online pharmacy

  60. Pingback:

  61. Pingback: online pharmacy canada

  62. Pingback:

  63. Pingback:

  64. Pingback: online drug store

  65. Pingback:

  66. Pingback:

  67. Pingback: canadianpharmacy

  68. Pingback:

  69. Pingback: gewsd.estranky.skclankydrugstore-online.html

  70. Pingback: kqwsh.wordpress.com20220516what-everybody-else-does-when-it-comes-to-online-pharmacies

  71. Pingback:

  72. Pingback:

  73. Pingback:

  74. Pingback:

  75. Pingback: discount canadian pharmacies

  76. Pingback: canada pharmacy

  77. Pingback: canadian pharmacy online

  78. Pingback:

  79. Pingback: discount canadian pharmacies

  80. Pingback: canada drug pharmacy

  81. Pingback: northwest pharmacy canada

  82. Pingback: 628f789e5ce03.site123.meblogwhat-everybody-else-does-when-it-comes-to-canadian-pharmacies

  83. Pingback:

  84. Pingback: canadian pharmacies shipping to usa

  85. Pingback: canadian medications

  86. Pingback:

  87. Pingback:

  88. Pingback: canada online pharmacies

  89. Pingback:

  90. Pingback:

  91. Pingback: canadian prescription drugstore

  92. Pingback:

  93. Pingback:

  94. Pingback:

  95. Pingback: canadian pharmacies online

  96. Pingback:

  97. Pingback: iercvsw.wordpress.com20220614canadian-pharmacies-the-fitting-manner

  98. Pingback:

  99. Pingback:

  100. Pingback: 62b2f636ecec4.site123.meblogcanadian-pharmaceuticals-online

  101. Pingback:

  102. Pingback:

  103. Pingback: legitimate canadian mail order pharmacies

  104. Pingback:

  105. Pingback:

  106. Pingback: canada pharmacy online

  107. Pingback:

  108. Pingback:

  109. Pingback: canadian prescription drugstore

  110. Pingback:

  111. Pingback: www.formlets.comformsv7CoE3An9poMtRwF

  112. Pingback:

  113. Pingback:

  114. Pingback:

  115. Pingback: buy viagra online usa

  116. Pingback: hub.docker.comrepositorydockercanadianpharmacyspharmacies_in_canada_shipping_to_usa

  117. Pingback: drugstore online

  118. Pingback: canadianpharmacy

  119. Pingback: online pharmacy canada

  120. Pingback:

  121. Pingback:

  122. Pingback: prescriptions from canada without

  123. Pingback: canadian pharmacies that are legit

  124. Pingback:

  125. Pingback:

  126. Pingback:

  127. Pingback:

  128. Pingback:

  129. Pingback:

  130. Pingback: most reliable canadian pharmacies

  131. Pingback:

  132. Pingback:

  133. Pingback: www.formlets.comformsN2BtJ3kPeJ3KclCw

  134. Pingback: best canadian pharmacies online

  135. Pingback:

  136. Pingback:

  137. Pingback: canadian drugstore

  138. Pingback: canadian pharmacies that are legit

  139. Pingback: canadian pharmacies that are legit

  140. Pingback:

  141. Pingback:

  142. Pingback: londondrugscanada.bigcartel.comlondon-drugs

  143. Pingback:

  144. Pingback:

  145. Pingback:

  146. Pingback:

  147. Pingback: safe canadian online pharmacies

  148. Pingback:

  149. Pingback: canadian pharmacies online prescriptions

  150. Pingback: pharmacy

  151. Pingback: form.jotform.comdecotecanadian-pharmacies-shipping-to-the

  152. Pingback: online pharmacies

  153. Pingback:

  154. Pingback:

  155. Pingback: sbwerd.estranky.skclankycialis-generic-pharmacy-online.html

  156. Pingback:

  157. Pingback:

  158. Pingback: buy cialis germany

  159. Pingback: buy cialis online safely

  160. Pingback: buy tadalafil no prescription

  161. Pingback:

  162. Pingback: buy tadalafil no prescription

  163. Pingback:

  164. Pingback:

  165. Pingback:

  166. Pingback:

  167. Pingback:

  168. Pingback: www.divephotoguide.comuserbuycialisonline

  169. Pingback: buy cialis pills

  170. Pingback:

  171. Pingback:

  172. Pingback: buy cheap cialis no prescription

  173. Pingback: form.jotform.comogmynbuycialisonline

  174. Pingback: linktr.eebuycialisonline

  175. Pingback:

  176. Pingback:

  177. Pingback: canadian pharmacy viagra brand

  178. Pingback: canadian pharmaceuticals

  179. Pingback: top rated online canadian pharmacies

  180. Pingback: linktr.eeonlinepharmacies

  181. Pingback: northwestpharmacy

  182. Pingback: drugstore online

  183. Pingback: telegra.phRecommended-canadian-pharmacies-08-12

  184. Pingback: Canadian Pharmacy USA

  185. Pingback: canada online pharmacy

  186. Pingback:

  187. Pingback: buyviagraonline.estranky.skclankybuy-viagra-without-prescription-pharmacy-online.html

  188. Pingback: buy cheap viagra in canada

  189. Pingback:

  190. Pingback: buy cheap viagra on line

  191. Pingback: buy cheap viagra on line

  192. Pingback:

  193. Pingback:

  194. Pingback:

  195. Pingback:

  196. Pingback:

  197. Pingback:

  198. Pingback: buyviagraonline.bigcartel.comviagra-without-a-doctor-prescription

  199. Pingback:

  200. Pingback: telegra.phHow-to-get-viagra-without-a-doctor-08-18

  201. Pingback: graph.orgBuying-viagra-without-a-prescription-08-18

  202. Pingback:

  203. Pingback: buy viagra online no prescription

  204. Pingback: www.divephotoguide.comuserbuyviagraonline

  205. Pingback: hub.docker.comrbuyviagraonlineviagra

  206. Pingback:

  207. Pingback:

  208. Pingback:

  209. Pingback: buy viagra with no prescription

  210. Pingback:

  211. Pingback: buy viagra us pharmacy

  212. Pingback:

  213. Pingback: viagraonline.estranky.skclankyviagra-without-prescription.html

  214. Pingback: buy viagra with no prescription

  215. Pingback: buy viagra cheap

  216. Pingback: viagraonlinee.livejournal.com492.html

  217. Pingback:

  218. Pingback:

  219. Pingback: www.kadenze.comuserscanadian-pharmaceuticals-for-usa-sales

  220. Pingback:

  221. Pingback:

  222. Pingback: 500px.compcanadianpharmaceuticalsonline

  223. Pingback: dailygram.comindex.phpblog1155353we-know-quite-a-bit-about-covid-19

  224. Pingback: challonge.comencanadianpharmaceuticalsonlinemt

  225. Pingback:

  226. Pingback: canadian pharmacys

  227. Pingback:

  228. Pingback: canadian pharmacy world

  229. Pingback: www.scoop.ittopiccanadian-pharmaceuticals-online

  230. Pingback: reallygoodemails.comcanadianpharmaceuticalsonline

  231. Pingback: viagra canada

  232. Pingback:

  233. Pingback: reallygoodemails.comcanadianpharmaceuticalcompanies

  234. Pingback: generic stromectol

  235. Pingback: buy ivermectin online fitndance

  236. Pingback:

  237. Pingback: 500px.comporderstromectoloverthecounter

  238. Pingback:

  239. Pingback: stromectol australia

  240. Pingback:

  241. Pingback: cialis from canada

  242. Pingback: canadianpharmaceuticalsonline.bandcamp.comreleases

  243. Pingback: best canadian mail order pharmacies

  244. Pingback: www.provenexpert.comcanadian-pharmaceuticals-online

  245. Pingback:

  246. Pingback: listorder-stromectol-over-the-counter-10

  247. Pingback:

  248. Pingback:

  249. Pingback: www.repairanswers.netquestionorder-stromectol-over-the-counter-2

  250. Pingback: www.repairanswers.netquestionstromectol-order-online

  251. Pingback: stromectol for scabies

  252. Pingback: order stromectol over the counter

  253. Pingback:

  254. Pingback: web904.combuy-ivermectin-online-fitndance

  255. Pingback:

  256. Pingback: canadajobscenter.comauthorereswasint

  257. Pingback: canadian rx world pharmacy

  258. Pingback: bursuppsligme.bandcamp.comreleases

  259. Pingback: best canadian pharmacy

  260. Pingback: pinshape.comusers2462760-order-stromectol-over-the-counter

  261. Pingback: stromectol pharmacokinetics

  262. Pingback:

  263. Pingback: web904.comcanadian-pharmaceuticals-for-usa-sales

  264. Pingback: stromectol children

  265. Pingback: 500px.compbersavahi?view=groups

  266. Pingback: canadian cialis

  267. Pingback: www.provenexpert.comcanadian-pharmaceuticals-online-usa

  268. Pingback: canadian pharmacycanadian pharmacy

  269. Pingback: melaninterest.comusercanadian-pharmaceuticals-online?view=likes

  270. Pingback:

  271. Pingback: buyersguide.americanbar.orgprofile4206420

  272. Pingback: experiment.comuserscanadianpharmacy

  273. Pingback: slides.comcanadianpharmaceuticalsonline

  274. Pingback:

  275. Pingback: challonge.comgotsembpertvil

  276. Pingback:

  277. Pingback:

  278. Pingback: soncheebarxu.estranky.czclankystromectol-for-head-lice.html

  279. Pingback: lehyriwor.estranky.skclankystromectol-cream.html

  280. Pingback: stromectol cream

  281. Pingback:

  282. Pingback:

  283. Pingback:

  284. Pingback: canadian pharmacy

  285. Pingback: canada drug pharmacy

  286. Pingback: moaamein.nacda.comprofile4220180

  287. Pingback: trust pharmacy canada

  288. Pingback: network.myscrs.orgprofile4220200

  289. Pingback: online pharmacy canada

  290. Pingback:

  291. Pingback: www.ecosia.orgsearch?q="My Canadian Pharmacy - Extensive Assortment of Medications – 2022"

  292. Pingback:

  293. Pingback: canadian viagra

  294. Pingback: canadian viagra

  295. Pingback:

Comments are closed.


Real Estate Redefined.

Scroll to Top