Browse Forums General Discussion 1 Feb 12, 2015 10:34 am So, my wife and I are planning to buy our own house. We have already met with couple of the builders and the next meeting is scheduled with Porter Davis this Saturday. we are pretty excited and stressed out equally. We do try to ask as many questions as possible, however the only questions that is bothering us is the "total" cost and for which we haven't yet received a clear answer. I understand the site cost, and other costs that are specified in the brochures. The only thing that I don't understand are if there are any other expenditures like solicitor's fee, inspection fee, lender fee, (if any of this is applicable). These might be small expenses but it becomes a major factor when we add up everything. I would really appreciate if anyone who has gone through same situation, could help me with the answers. It will really help us to decide as to how much we can keep as deposit and how much we can set aside for these expenses. Building the Bermuda 23 (In Frame Stage) by Porter Davis in Livingstone , Cranebourne East Re: Cost involved when buying house and land package 2Feb 12, 2015 11:31 am Loan approval fees Stamp duty on land Draw down fees Council rates while you're building Building inspection fees (if you hire one) Driveway if not includes Fencing if not currently fenced on all sides Connection fees to services (if any) Landscaping Moving Mail forwarding Ive not put the costs here as they can vary wildly based on quality, location and duration. Creator of superduperonium, expert at expert things, nobel laureate, can hold my breath for 10 minutes. Re: Cost involved when buying house and land package 3Feb 12, 2015 12:44 pm Rates on land before/when building Utilities when building Morgage whilst building can be abit of a killer if you're paying rent at the same time Blinds/ curtains Upgrades you can't live without on the home Re: Cost involved when buying house and land package 4Feb 12, 2015 1:44 pm Thank you for the replies We are planning to buy in Cranbourne East. @Ponzu: Are these expenses massive? Do we have to keep large portion of money aside to bear these expenses? Any approximate figure would do.. Do builders agree to take care of some of expenses like utility bills ?Is it recommended to ask these sort of questions during the first meeting with sales person? We would be bearing mortgage whilst building and paying rent at the same time. Sorry for so many questions, but it is getting really stressing Building the Bermuda 23 (In Frame Stage) by Porter Davis in Livingstone , Cranebourne East Re: Cost involved when buying house and land package 5Feb 12, 2015 2:57 pm there are some ideas about building costs at this link: http://www.anewhouse.com.au/2012/01/what-will-it-cost/ The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: Cost involved when buying house and land package 6Feb 12, 2015 6:33 pm hsingal Thank you for the replies We are planning to buy in Cranbourne East. @Ponzu: Are these expenses massive? Do we have to keep large portion of money aside to bear these expenses? Any approximate figure would do.. Do builders agree to take care of some of expenses like utility bills ?Is it recommended to ask these sort of questions during the first meeting with sales person? We would be bearing mortgage whilst building and paying rent at the same time. Sorry for so many questions, but it is getting really stressing I agree with the above expenses. No, builders aren't responsible for utilities. Definitely add a contingency for upgrades in the selection process, independent building inspector (can't recommend this enough!), contingency in case water meter needs to be moved or if the meter box electrical run turns out to be further, temporary fencing if required by builder, and a general contingency for unforseen expenses. No I wouldn't recommend talking about these in the first meeting. There is much more to do first. In the first meeting you probably won't even realise which of your selctions you want to upgrade. Ask them for a list of who their selctions are done through (if they aren't all done at the builders own selection centre) i.e. Tiling might be through Beaumont tiles. Then go to Beaumont and ask to see the builders standard range for you specific builder. Then you can see if you like this range or are going to upgrade. There are also many hidden upgrades like rectified edges on tiles which adds to labour costs when the tiles are laid. Most people also add extra electrical outlets in the house. You may add another coat of paint or upgrade the paint quality etc etc. Follow build threads on here from the builder you chose and others to get ideas of issues others have encountered, costs, things not to forget (there is a thread for this) etc. Good luck! Re: Cost involved when buying house and land package 7Feb 12, 2015 9:18 pm Yes. These fees can be large. Or not. Put together a list of everything you can think of and just call around, check the sro site for duty calculations, call some fencers and ask about rates etc. Put it ina spreadsheet and youll get a clearer picture of costs. Dont stress, just take small steps to filling in the big picture. Creator of superduperonium, expert at expert things, nobel laureate, can hold my breath for 10 minutes. Yeah I don't know why I came to a forum. Place is full of wierdos/pedos thought internet may help but I suppose I'll try my luck with someone in person. Cheers. I tried… 0 6444 13 6632 The price you're seeing for a high-spec 2-storey home in Perth sounds steep, but unfortunately, it's kind of the norm these… 8 7982 |