Budget allowances - Land vs House
Page 1 of 1
Reading various articles online, as we're just starting out, and some mention a 25% max allowance of your budget to go towards the land....
We're sitting on 35% if all goes to plan, but gosh that 10% would make such a huge HUGE difference to our final product. But land where we want to build doesn't get any cheaper than it is at the moment.
So how much did your land cost you?
Thanks!
Depends on so many things though, we signed up for our land in a suburb approx 40km south of Perth CBD 21 months ago, it was just over $250k back then.
Depends on your builder and level of finishing in the house too. You *can* complete a house for $250k here, there are likely houses in our estate where people have done that, but we've opted for a higher end builder, with lots of lovely upgrades - because that's what our lifestage and budget allow for now. Plus landscaping varies, some people may be content with what the builder provides (crappy grass and half a dozen plants) or others may spend tens of thousands.
At the other end of the scale, when I built my first house, the land was more than the build!
$165k for land and $158k for the actual building
I think land tends to be more expensive generally, and you have less control over it. I can change builders, take things out, add things in to vary my price. But when it comes to land, the block price is the block price, same with site costs.
Suppose depends where you build.. generally you pay more for larger land, larger land = bigger house, so higher construction costs.
Related
6/07/2023
1
Coming back to your old stomping grounds, huh? Renovations on a budget can be quite the journey. It's like giving your house a new lease on life. The twist of not knowing…
3/05/2024
0
I'm based in Adelaide and I'm considering purchasing a house and land package from Weeks Homes. I found a deal that looks good, but there's a complication: the land isn't…