New home in established suburb v established home, established suburb

Hi all

I am hoping to get some thoughts on whether building a new home in an established suburb in Perth is a good plan of attack. Generally speaking, the details would be as follows: land approx 500-600k, new house cost of approx 200k. Land in Perth in suburbs such as Joondana, Como, Vic Park. The build would be a 3 to 4 bedroom house that would be expected to provide for a small family and thus be lived in for 5 years minimum but more likely 10 years. This plan has been developed to take advantage of the recent grants announced by the Fed and WA govt for home builders. Before announcement of the grants, we were just looking at buying an older established house in those surburbs (trying to maxmise land value for CG purposes). Obviously, a new house isn't great for CG but the grants offset the downside to a large extent.

Interested in thoughts

 

How much cheaper is the established home of the same size?

you want new? Go for it.

 

Thanks Trainee. I don't have a comparison to hand. I suppose my question is specifically whether people consider the grants (approx $55k) sufficiently offset the rapid depreciation incurred on a new home.

 

$200K seems a bit low for a 3-4 bedroom house.