HELP ME PLZ

semut · Jul 16, 2007 11:26 pm

Hi guys...
I am new with this forum, but i desperately need a help.. i am planning to buy a house in truganina..the land is about 320 sqm...it will become 3 bedroom, 2 bathroom and single garage...i will build this with persaud's home???is anyone has build a house with this company and how much you guys think for this kind of building???thank you so much...
thx
semut

First_Timer_Ray · Jul 17, 2007 11:33 am

All I will say is to be careful of land prices in the Truganina/Tarneit area. There are SO many new estates with land for sale that I don't think the value is there for a lot of them.
We were recently told by a mortgage guy that a lot of the land in Tarneit is valued $10K or so less than the selling price, but the developers are throwing in fencing or some sort of rebate that you really aren't getting for free. Problem then comes with borrowing against the value as it's not the same as the purchase price.
We have a 451m2 block and to be honest - we found it very difficult to get a 3 bedroom house with double garage on it (granted it was an odd shape). Our house plan is 23sq inc garage, and we won't have a great deal of spare land. I wouldn't want to go any smaller!
We have not long moved into a brand new rental (whole nother story) in Tarneit and the house takes up the WHOLE block. There is about 3m from the house to the fence on one side, and about 2m to the fence at the rear and other side. It's kind of pointless as the space can't really be used for anything!
Can't comment on the builder as I've never heard of them before.

Ray.

Adrian B · Jul 17, 2007 11:41 am

First_Timer_Ray

All I will say is to be careful of land prices in the Truganina/Tarneit area. There are SO many new estates with land for sale that I don't think the value is there for a lot of them.
We were recently told by a mortgage guy that a lot of the land in Tarneit is valued $10K or so less than the selling price, but the developers are throwing in fencing or some sort of rebate that you really aren't getting for free. Problem then comes with borrowing against the value as it's not the same as the purchase price.
We have a 451m2 block and to be honest - we found it very difficult to get a 3 bedroom house with double garage on it (granted it was an odd shape). Our house plan is 23sq inc garage, and we won't have a great deal of spare land. I wouldn't want to go any smaller!
We have not long moved into a brand new rental (whole nother story) in Tarneit and the house takes up the WHOLE block. There is about 3m from the house to the fence on one side, and about 2m to the fence at the rear and other side. It's kind of pointless as the space can't really be used for anything!
Can't comment on the builder as I've never heard of them before.

Ray.

Have to agree with ray here.

We bought a 18x31 block but put a 4 bedroom 31 sq house on it. Back yard is not huge but just nice and practical.

As for costs, we paid $120k for the block, which has free colorbound fencing and front landscaping. The block is rectangular. Other estates we saw, had the same block for $155k, with no fencing, landscaping etc etc. Also the other estates had more winding roads, which mean tthe block shapes were smaller and not rectangular. Many had deminishing rear boundaries, meaning the front was wide enough, but unless you have a house design that tapers in at the rear, you are going to have some issues.

Another BIG thing is that there are a HEAP of estates in south West / Western Melbourne that only go through Oliver Hume for sales. Ours was not one of these, and it seems that the estates that do not use OH are cheaper. Not sure why, just an observation.

sneakersss · Jul 17, 2007 12:55 pm

Ah yes, the good ol' problem with valuation of the land. We had this problem and it's a big pain in the butt.

But anyway, as the other guys said consider the lot size very carefully as what you are planning to buy and put on is a very big ask from my opinion. Try find the house you want first and a block that will fit it. My friend bought a very narrow block and couldn't find a project home to fit so they had to custom build a two storey. And we all know to build a two storey house is extra.

Adrian, we have the same size block and house. I must say, though, the price you paid for your land is very good.

Well, compared to mine, anyway.

semut · Jul 17, 2007 11:19 pm

so the land in Tarneit or Truganina is not really have value???im going to buy a land about 10 x 32...the price is about 85k..the house will be 15.5 sq with 3 bedrooms, 2 toilets and bathroom and single garage...do you guys think it will be all rite...
thanks
semut

Emi · Jul 20, 2007 10:33 pm

I also have to agree here. We bought in Pt Cook 9 months ago and just got extremely lucky with a block in Boardwalk estate. Before this we were looking at Tarneit. Its the age old argument of Supply v. Demand and there is more supply of land in the Tarneit area than demand - look at how much some of the estates ie. Seasons and Wyndham Waters have dropped their prices over the last 12 months.

In my opinion Semut and take it for what it is my opinion I now would rather buy in Wyndham Vale over Truganina if thats the amount of money you have to spend. Adrian please note this is only my recent opinion after the seeing the new estates Reflections/Reserve/Manhattan Place etc The reason being is that I believe it is valued a little cheaper and thus a closer price to what it is really valued. BlueStone Green and the newer releases of Manor Lakes will have recycled water. Finally there is the Middle Ring Road going in in a few years which will make it closer to the city and therefore more desireable to live. As an investment point of view, I think its a better buy.

Sorry for the essay but I definately think its worth a look.

Emi

Adrian B · Jul 21, 2007 1:21 pm

I havent looked at land rpices for a while so good to see that they are dropping in Seasons. Some of the prices they wanted were insulting to say the least.

I think you also need to look at other things apart from price, although it is obviously important.

We plan to be here for a long time (of course anything changes) so we look at our future as well as what we wanted now. We wanted a quiet court, so that when the little ones are on the way, and grow up, they have a 'safer than others' area to ride bikes. Also we have lived on heavy traffic roads and from a noise perspective we are over that. even with good insulation, you still get vibration, tyre screetchng and accidents. If you have a look at most new estates, ther are not a lot of courts.

We found a good court, plenty of parking, well off the main estate drags, and as entioned fencing and front landscaping included.

Could we get more value from other estates? probably yes. but for what we wanted this was the best option, and we are realy happy with it.