Browse Forums General Discussion 1 Jul 17, 2009 11:49 am Hello groovers, I have been doing some research trying to decide whether to build or buy established, then I found this forum. Wow what a help! I only just joined so if this topic has already been covered please send me the link, but I was just adding up some basic costs of building our dream house to see if we can afford it or not. I know it is more expensive than buying established, but if it is our dream house and we can live happily ever after in it, we can extend ourselves a little bit. We have found the house design we LOVE, and just looking at hidden costs not included in the plan. Assuming we find a good flat block to build it on (HA) On the inside I'm looking at: Carpet Tiling to Living Area Curtains Airconditioning And on the outside I need to consider: Pergola Rainwater tank Plumbing the rainwater tank to the toilets Fencing Retaining General Landscaping and Gardening Driveway Are things such as connecting to the electricity and water in an already developed street included in the contract? And what other costs should I consider if we are builidng the house exactly as displayed in the display home? I'm sure I have missed heaps..... We have found a Rossdale design which we love, but if we will end up broke building it, we may just buy established! I apologise if there is already a forum covering this kinda thing, I have done a search but couldnt find one myself, but I'm not very computer literate at times Thank you groovers for your help and have a jolly good day Re: Should I Build or Buy Established? 2Jul 17, 2009 12:11 pm All display home builders have different options, and many have different specials on (some may suit what you need better than others). All in all I found out that whenever I looked at a home, I would be adding about $30-40K to the builder's advertised price. I then needed another $20K or so for landscaping, driveway, fences, etc. Blog is now up - http://www.jbdave.blogspot.com/ Re: Should I Build or Buy Established? 3Jul 17, 2009 12:27 pm Thanx for your reply! After checking out a few display homes I was surprised that they used the term 'as displayed price' because so much that was displayed was not included in that price after reading that very very small fine print. I took a guestimate which is about the same as you suggested so thanks for that! It is still affordable at the moment! YAY! Re: Should I Build or Buy Established? 4Jul 17, 2009 2:08 pm Don't forget that you need to add site costs to any "base" price. These can range from $1000 to ......... well sky is the limit really. Every builder is different - you would need to go to the builder in question and ask "what is included and what isn't". Even things like kitchen drawers instead of cupboards will cost extra / different colour bricks to what their standard range is / different roof tiles / different windows / front doors etc - everything that isn't classified as standard will normally cost you. Some things are worth waiting for. Re: Should I Build or Buy Established? 5Jul 18, 2009 8:03 pm We've also had to make that decision and have decided to build. Stamp duty alone is what put us off buying an exisiting house. The $30K or so, that would've been paid in stamp duty for an existing house, will help with the cost of those extra's you've mentioned and we'll end up with a new house. The thought of paying $350K, depending on the location, for a house that was 25 years old was NOT appealing. Sandra Re: Should I Build or Buy Established? 6Jul 18, 2009 9:14 pm I am building and it is becoming a nightmare. You think when you build you get exactly what you want. Well I am finding that not to be true. My brickwork is awful, my builder has not build my portico as per plan and has changed the whole look of the house. My house was $160k, and I spend another $85k, not including any of the outside paving/landscaping/rainwater tanks. These extras add up so quickly my tiling was an extra 18k, upgrading the kitchen/bathroom was 20k aircond was 11k downlights 2k nicer doors and handles 1k, spa 2.5k, panel lift door 1k, render 1.7k, portico 1.5k, footings was 18.5k, vanity 1k, bipart doors 3k...and all the other things like gas points, water for fridge, dishwasher provision, bathroom recesses, flick mixers none of this was standard for me Re: Should I Build or Buy Established? 7Jul 20, 2009 12:40 pm Thanx guys, I hadn't actually considered the lower stamp duty that could go towards the house. In South Australia it is pretty high! I am visiting the display home again this week and going through with the salesman room by room to find out exactly what is included. I've heard good things about Rossdale and the guy has been real honest with me so far. We also know a few tradies that could help us out with things like tiling and groovy things like that. I can't believe you have been hit for another $85k just for changing a few things. Holy cow! I would think it would be cheaper to get the builder to do these things seeing as he is there anyway, obviously not..... wow! Might have to add a bit more to my budget for hidden extras than I had planned! Thanx again so much guys! Have a jolly good day!!!!! Re: Should I Build or Buy Established? 8Jul 20, 2009 1:19 pm If you are really new and green to home ownership, I would rather buy established. Then I'd know what exactly I was getting. Then when you already have a good stable house to work off, consider building your dream one. Re: Should I Build or Buy Established? 9Jul 20, 2009 2:26 pm We spent approx $50k more than the base price on siteworks and upgrades. And we will be spending another $50k after the build on landscaping etc. But when it's finished, it will be comparable in value to other established homes in the area. I suppose it depends on whether you want the hassle of building but the end result is getting a house to your own tastes and design. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Should I Build or Buy Established? 10Jul 20, 2009 2:37 pm We decided to build, as where we live we get the first home buyers of $36,500 so that was an incentive for sure. We also are building a house and land package! (our first home) so this suited us better. Everything is inculded apart from window dressing and light fittings. With this you know what you are getting. We have to pay Stamp duty and lawers fees but this was a better option for us so when we want to sell, we will make money.! We have borrowed an extra $5,000 to upgrade a few extra's like tiles and my 900 oven! (i need that ) and we will just save cash for other things we need, they are material things anyway. Landscaping - we get pavers included and fencing so that's covered, i will just plod along with the garden over xmas as i have a new baby now but by then i will have a bit more time outdoors. Re: Should I Build or Buy Established? 11Jul 22, 2009 8:26 pm I'm starting to wish I had bought established!!! I'm building on my own so my budget is tight. And I've only just realised that I have done my sums wrong and now I'm over by about 10k and I haven't even gotten to colour selections yet!! argghhhh I'm starting to feel worn out. Although I will admit, its an exciting process to go through but can be very stressful. Just watch your budget and stick to it. I wish I had, now I'm stressing how I'm going to pay an additional $40p/w for the mortgage that I hadnt accounted for Deposits paid 29/4/09 Land settlement 12/08/09 Build contract signed 24/08/09 Colours done 28/09/09 BLOG-http://www.eljaysbuild.blogspot.com/ Re: Should I Build or Buy Established? 12Jul 23, 2009 11:46 am Howdy groovers, Thanks again. I went back to the display home yesterday and found out exactly what is included in the 'as displayed' price. Luckily everything except the floor coverings and curtains are included, and we love the way the display home is set up so we don't need to change anything. Phew, that will save us a little bit.... My husband has built before and is keen to do it again (with a different company this time though) so he is aware of some of the catches and hidden costs, but that was 15 years ago. I'm budgeting for about $50k blow out cost for the house, and guessing the yard will cost about $35k to do as my husband is a handy man and can do some of the garden himself (although he is not as handy as he sometimes thinks so I will get a tradie in for most of it) HA Now I guess we just have to wait to find a block we can afford.... might be waiting a while Thank you all so much for your advice and stories. It is going to cost a lot more than we thought, but depending where we build, will only be a bit more than buying established - and we get a house that is perfect for us! Thanx again groovers, and have a jolly good day Re: Should I Build or Buy Established? 13Jul 24, 2009 11:44 am This is not to discourage you.... this is what we are paying on top of the builder cost: 1. Hydraulic works - 40K + GST (This could depend on the council and your land) 2. Carpet ~ 9.5 K 3. Timber flooring ~ 8 K 4. Extra Tiles ~ 2K 5. Light fittings only ~ 2K Other costs to come 1. Landscape 2. Driveway 3. Decking 4. Fencing 5. Front gates and side gates 6. Light fitting installation 7. Blinds This is going to be over 100K on top of the builder cost! Anyone got a weekend job for me? - San Re: Should I Build or Buy Established? 14Jul 25, 2009 8:09 pm thanx for the heads up, i have grabbed the floor plan and already got quotes for all the things that aren't included on the inside of the house, so the only thing i can't plan for (i think - probably forgot something) are the footings / site costs (which i know could be an astronomical amount depending on the block and other things).... fingers crossed we can find a good flat block (HA) as for the outside things that you mentioned, i thought it may come to about 50k, but if we are able to do some of it ourselves and with some tradie friends, we may be able to bring that price down to about 35k if we get some things at wholesale and save on labour costs too. does that sound like an accurate guesstimate? of course this all depends on IF we find a block we like, in an area we like, which would fit the kind of house we like. it's a big IF, but we are in no rush. this website is so great for newbies like me who are doing their homework! i love it thank you again and have a jolly good day Looking at some of the designs on websites, they are all selling very similar products. I get that you want something stylish. It's worth looking for search terms like SaveH2O… 2 6973 i imagine you also have another contract with an architect? and yeah, whatever other's said about special conditions and appendices 16 15822 hey there! π so, itβs kinda common for standard drawer depths to be around 500mm since most cabinets use this size to fit the usual runners… 3 20857 |