Wavell Heights continues to shine as one of Brisbane’s most sought-after suburbs—thanks to its elevated blocks, family-friendly streetscapes, and proximity to key amenities and the CBD. But for buyers eyeing this premium pocket, a pivotal question remains: should you secure a turnkey home or take on a knock-down rebuild?
At Brisbane Buyers’ Agency, your trusted Brisbane Buyers Agent, we’ve helped hundreds of clients navigate this very decision. Let’s break down the numbers, the lifestyle factors, and the strategic angles to consider—so you can make a confident, informed choice.
Option 1: Buying a Turnkey Home
For buyers wanting immediate occupancy and a hassle-free experience, newly built homes in Wavell Heights present an appealing option. They offer contemporary design, premium finishes, and no construction delays—ideal for those who value lifestyle convenience and are prepared to pay for it.
Recent sales show that high-spec new builds are selling between $2.35 million and $2.75 million, with most sitting comfortably above the $2.5 million mark. These properties are move-in ready, making them ideal for families or investors looking to lease quickly.
Examples include:
- 22A Bayview Terrace – Sold for $2.75m
- 19 Tabulam Street – Sold for $2.6m
- 11 Gurley Street – Sold for $2.65m
These homes represent the premium end of the market—and they sell fast.
Custom build homes Brisbane northside
Option 2: Knock-Down and Rebuild In Wavell Heights
If you have a vision and a bit of patience, the knock-down approach offers a pathway to customisation and, often, a more cost-effective result. The median purchase price for older, post-war homes suitable for redevelopment is around $1.2 million.
|
Option |
Median Price / Land Cost |
Estimated Build Cost (incl. site, finishes, landscaping) |
Total Projected Cost |
Potential Savings |
|
Turnkey Home |
$2.35m – $2.75m (avg ≈ $2.50m) |
N/A |
≈ $2.50 million |
– |
|
Knock-Down & Rebuild (380m²) |
Land ≈ $1.20 million |
≈ $1.026 million (build) + ~$70,000 (landscaping/pool) |
≈ $2.075 million |
$400K – $500K |
This table highlights that—based on recent data—choosing to build on a redeveloped block can lead to potential savings of $400K–$500K compared to buying new.
Recent sales of knock-down properties include:
- 25 Palomar Parade – $1.37m
- 24 Esdale Street – $1.3m
- 6 Albar Street – $1.26m
For the right buyer, this is an opportunity to build exactly what you want—without overpaying for someone else’s design.
Build Costs: What You Need to Know
As leading Buyers Agents Brisbane-wide, we’re constantly tracking construction trends.
David Farrer, Director of Sales and Business Development at McCarthy Homes, provides valuable insights into current construction costs:
“Currently, construction costs on a (turnkey) build with a typical size of 380m² would be approximately $2,700 per m². Such a price would encompass premium finishes and is based on a relatively flat site.”
These costs make Wavell Heights a viable path to equity growth.
Beyond the Numbers: Key Considerations
When deciding between buying or building, it’s important to look beyond the spreadsheet.
- Timeline: Building can take 12–18 months, so interim accommodation may be necessary.
- Customisation: Building gives you full design control—ideal for growing families or those with specific lifestyle needs.
- Capital Growth: In suburbs like Wavell Heights, well-executed rebuilds often attract strong resale interest, especially on larger blocks with thoughtful design.
So, What’s the Verdict?
Both strategies—buying new or building from scratch—can be the right move depending on your goals.
- Choose a turnkey home if you value convenience, speed, and minimal disruption.
- Consider a knock-down rebuild if you’re after customisation, potential cost savings, and longer-term upside.
At Brisbane Buyers’ Agency, we help clients weigh these decisions through the lens of strategy—not emotion. Whether you’re seeking a Buyers Agent Brisbane-based, or considering your next move on the Gold Coast, our team creates a clear Buying Brief to align your purchase with your long-term goals.
Book Your Free Insight Session with Paul Palella, your buyers agent in Wavell Heights, Brisbane 4012.
We offer a complimentary strategy session to help you explore all your options:
✔ Tailored Buying Brief aligned to your goals
✔ Access to off-market and pre-market opportunities in Wavell Heights
✔ Investment modelling based on your personal scenario
Call me directly on 0409 499 034 or email paul@brisbanebuyersagency.com.au to take the next step with clarity and confidence.
Brisbane Buyers’ Agency – The Buyers Advocate Brisbane homeowners and investors trust to secure high-performing properties with confidence.