Build or buy: Which is better in the Murraylands in 2026?
Raine and Horne Murraylands’ Michael Cox and Casey DeMichele offer their advice on an age-old debate.
This sponsored story is brought to you by Raine and Horne Murraylands.
If you’re looking for a new home, traditional wisdom might tell you that it’s cheaper to build than buy.
You have to wait a bit longer to move in, but you’ll end up ahead.
But is that true any more?
A lot has changed in the Murraylands’ housing market in recent years, with prices surging and demand shifting between different types of properties.
Here to break down the buy versus build debate are Raine and Horne Murraylands’ Michael Cox and Casey DeMichele.
Timing
The biggest issue you’ll need to deal with as you decide whether to build or buy is time.
With housing in short supply all over Australia, builders are very much in demand and it may take a lot longer than you expect to get a new house built – perhaps two years, by the time you go through planning approvals and construction.
Trades are likely to be stretched further as several major land releases come onto the market in Murray Bridge over the next 12-18 months.
If you buy land in one of those subdivisions, there may be additional delays before you even reach the start line with a builder, while you wait for developers to build the infrastructure that will give you access to your block.
You can use that extra time to work with your builder or architect on a design, so you’ll be ready to go as soon as possible; but that may not be for everyone.
“It can be up to three years from signing a land contract to moving into your home,” Michael says.
“We get a lot of people start to consider (building) and, as they do their homework, go ‘nah, I’m just going to buy established’.”
Are you willing to keep renting, or paying your existing mortgage, for three more years?
Or would you rather move into an older home sooner?
Availability
One issue common to both vacant land and established housing is this: demand is still high.
Although the property market has returned to something closer to “normal” over the past six months, with houses selling in weeks rather than days, competition remains strong.
One point to note is that recent changes to negative gearing mean investors now have an incentive to buy newly built homes, rather than existing stock.
“I think it’s opened up (the market) for local buyers to get in on the used properties more than what they were,” Michael says.
“Maybe you can get a reasonable purchase versus what you’ve been competing with in the past.”
Costs
Is building still cheaper than buying?
House values in regional South Australia have increased by 94 per cent over the past five years, according to industry analysts PropTrack, but land has risen at a similar rate.
Where once you might have found a decent-sized block in Murray Bridge for $60,000, now it might cost $300,000.
Add on the cost of building a home – which might be another $500,000 these days – and you won’t necessarily end up ahead.
“When you add up all the little (costs) of building – fencing, landscaping, tanks, concrete – buying established could look pretty appealing,” Casey says.
New homes will have a higher resale value, Michael says, and you can save tens of thousands of dollars in stamp duty by purchasing a vacant block.
But there is definitely merit to the idea of looking for an established home, even with the maintenance costs that may come with it.
“You can get your keys in 60 days’ time and start doing what you want to do,” he says.
Personal preference
The biggest advantage to building your own home, of course, is that it will be just that: your own home.
You can pick the features, materials and layout you want; and adjust a design to suit your budget and the lay of your land.
“(You can) be involved in the design and the colour tones and the room sizes ... and know, the minute you step in, that nobody else has used that shower, nobody else has used that kitchen, it’s brand-spanking and it’s yours,” Michael says.
“That’s a really exciting thing for people.”
Unless you’re extraordinarily lucky, an established home might take a bit of work: a fresh coat of paint here, a dishwasher there.
The benefit, though, is that you can physically walk through it before you decide to invest in it: “You can touch it, you can feel it, you can get the building inspector to make sure everything’s all good, you know exactly what it’s going to look like.”
Not everyone wants to live in a subdivision, and not everyone is able to make a decision about the place they’ll spend the next chapter of their lives based on a concept image.
So is it better to buy or build in the Murraylands right now?
Let’s circle back to our original question.
Ultimately, Michael says, there are advantages and disadvantages to both options.
“It’s not about which is better,” he says.
“It’s about which is better for an individual.”
Whichever way you are leaning, his advice is to get yourself into the market in whatever way feels right to you.
“The reality is: real estate always ends up growing (in value),” Michael says.
“You can sit there and wait for the market to drop, but I think the reality is, if you’re in a position to get into the market, get into the market.
“You won’t get immediate gratification like the past couple of years, but over time, your asset will grow.”
- More information: Visit www.raineandhorne.com.au/murraylands, call 8532 3833 or drop into the office at 4 Seventh Street, Murray Bridge.
Advertising to more than 20,000 highly engaged locals can do wonders for your business. Call Jane Intini on 0418 835 768 or email jane@murraybridge.news.
Peri Strathearn
