Oct 25, 2016 10:20 pm
I'm getting married soon and my fiance and I were thinking about having our own house in Adelaide in a next 5 years... or so
I was convinced that buying is more affordable and smarter option these days, but then I did some research and realized that prices are pretty high... now I'm not sure anymore.
So, could anyone tell me how much could it cost you to buy VS build a proper family house in North Adelaide?
I'm such a newbie when it comes to real estate market and I could really use some advice.
Re: Home buying vs Home building in Adelaide2
Oct 27, 2016 12:13 am
hi Chloe. I don't think you'd find any land in Nth Adelaide. it's pretty established and exclusive, so even finding a run down house to knock down would be very rare. where ever you live, it will cost you more to build for sure. people do it to get a new house that's exactly what they want. if you can find an established house that you like, in good condition, it will save you a lot of pain. So much sloppy work/poor practice in the building industry.
Re: Home buying vs Home building in Adelaide3
Oct 27, 2016 7:10 am
I was also thinking that buying is smarter, more affordable and less stressful solution.
After researching, I've found out that the prices are pretty high already (according to this property price information https://www.lifull.com.au/house/south_australia/metropolitan_adelaide-dist/price/) and they are about 3.5 per cent higher than last year. Also, I've read that the prices are going to grow rapidly (don't know is this info legit though).
I think it will need us a few years of saving (at least five) before we can invest in buying, so I'm afraid that some decent house is simply going to be beyond our budget until then. When I think about that, building our dream house slowly looks tempting... However, you are completely right about land and building industry.
I guess I will have to research more and think a bit. For now, buying looks like a huge investment (too risky maybe), but building looks impossible.
Re: Home buying vs Home building in Adelaide4
Oct 28, 2016 10:59 am
If its only going to happen in 2021, dont worry about it now. By then property will have crashed and prices will be 40%+ lower than they are today. Current obsession with RE will implode soon enough. Ponzi schemes always do.
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