Browse Forums Building A New House 1 Feb 24, 2009 8:04 pm “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. Re: Who would have brought an established home in hindsight. 5Feb 24, 2009 9:26 pm "Your emotions are the slaves to your thoughts, and you are the slave to your emotions." — Elizabeth Gilbert Living in our new house. Currently scaping the land. Re: Who would have brought an established home in hindsight. 7Feb 24, 2009 9:56 pm Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Who would have brought an established home in hindsight. 9Feb 24, 2009 10:30 pm “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. Re: Who would have brought an established home in hindsight. 11Feb 24, 2009 10:52 pm “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. Re: Who would have brought an established home in hindsight. 13Feb 25, 2009 6:41 am Henley - Wilshire Mk 3 ... I love my house!! Site start: 4th Feb 09 Handover: 10th Sep 09 Blog: http://stormygirlscastle.blogspot.com/ Build Thread: viewtopic.php?t=7166 Re: Who would have brought an established home in hindsight. 17Feb 25, 2009 10:03 am We looked briefly in to building and then went straight in to an established place. There is a new development in Adelaide on the old Cheltenham racecourse. The first release of land happened last October. It was $300,000 for a 500 square block. It would then have been around $150,000 for a modest home.
We quickly realised that building was not for us. We bought a wonderful older property in Cheltenham in a beautiful tree-lined street for $390,000. It is on a 600 square block with 3 bed and study, double driveway, carport, garage, air-conditioning. Yes, it needed a bit of work, and still does, but it is mainly painting and decorating. The new built place would have required so much more. Although it needs work, our place is very comfortable as is and has a very homey feel to it. And on top of it all we didnt have to wait for it to be built. Re: Who would have brought an established home in hindsight. 18Feb 25, 2009 10:22 am No I wouldn't have bought established - I enjoyed building my house and something I always wanted to do.
Not that buying established is a bad option - we bought established house before, and lived in it for 22 years, renovating and extending over time. Re stamp duty, we paid very little on this house, land here is relatively cheap and secured ours at bargain price as part of house/land package and then only pay stamp duty on the land. Not sure about the laminate comment, Zerosignal - we renovated our old kitchen in 2000 and still loved the laminate when we left in late 2008. HelsnGreg - that is a lot wrong with a house then only 4 years old - I'm sure that is not the norm, previous owners must of done things really cheap and nasty and not looked after it for things to be that bad that soon Re: Who would have brought an established home in hindsight. 19Feb 25, 2009 10:49 am This is our first home, so we dont have any first hand experience. However, when we decide to buy our first home, we were looking at both options, establised and build. At the end of the day, to buy an old (30 years +) in the area we are currently living in, cost about the same as building a new house in a area only 15mins away. So we decide to build, especially if you take into consideration the stamp duty and small FHOG for an established house! Idiots are fun, that's why there is one in every village! - Dr. House - Re: Who would have brought an established home in hindsight. 20Feb 25, 2009 12:32 pm Hmm, 2 months ago I was wishing we were buying established as house prices around here dropped substantially...and the price of building stayed the same...however...I have to also remember that a year ago we looked everywhere for an established house we liked - and like other posters, couldn't find anything that was exactly right! I'm now loving all the input I get to make into MY new house (and with interest rates having fallen...well, it's all a bit easier!)
Re the stamp duty equation - yes, its a big whack on an established home - BUT, we buildees have to pay interest only on our loans during building - we're basically just giving that money to the bank with nothing to show for it!! very similar to stamp duty I would think!! (exept it goes to the bank and not the govt...) In short, nothing wrong with either, just a personal choice Thanks mate. Yeah good points! Leaning towards Option 3 to get a bit extra space in the cabinets but not going too crazy high (and expensive). Would require a mini… 13 39760 Bought in Nov 21 at the height of the market (classic). Good area, atrocious floor plan. BUT has land out to the left-hand side that we can extend out on (see second… 0 8784 |