Updated: Feb 18
What is an established house? Should you buy an established house?
A residential established house is the most purchased type of property in Melbourne and Victoria. What is an established house? What do you need to know when buying this type of property? What are the pros and cons? How does an established house compared to other types of residential properties in Melbourne?
First off, what is an established house? It is a house that has already been built and pre-owned. Someone has already lived in it and are moving on from there. Some might call it a second-hand house or a resale house.
Benefits - Advantages of an Established House
One of the biggest benefit of buying an established house is its simplicity. The house is already available for you to view, touch, see, and you can imaging yourself owning and living in it. What you see is essentially what you get. If you are happy with it, you make an offer, and if it is accepted, you organise the financing, and wait for the keys. It is that simple. There are many established houses in the Melbourne property market to choose from. With price ranging from under $400k to well over $20million.
Most of these are in matured suburbs and in high d