Browse Forums Building A New House 1 Feb 27, 2009 12:13 am Hi all you kind people.
Please share your thourghts on my situation. Do I build or buy established. I can get the FHOG. If I build its more, cool, happy with that. But cant get it all together. Im very fussy on a block. Must be in the right part of town. Must be flat, not rock, wide street, you know what I mean I sure. If I want the grant I must act fast to find a block, builder etc. I feel a bit pushed but Ive been looking for some time and have not committed. Also I have a deposit down this a builder and I will cop a price rise in 2 weeks. Do I say forget the 26k and buy established and get 17k and have a bit more time to look. Is it normal to be so perdantic when you are about to spen 400,000 I want it to be the right thing for my family, not just me. Do I need to stop waisting time and just do it, Im never going to find the perfect block am I. I would prefer to build as I think its better value maybe more but better value and new. This is my first home and Im nervous about it all. I can invest in high risk stuff no problems but buying a home seems to freak me out. Can you folk tell me was it like this for you or is it just me. Any hints on what to do. Great forum with great people, really enjoy reading peoples expirences. Kind Regards KW............... “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. Re: Need help, surgestions, not sure what to do.............. 3Feb 27, 2009 5:20 am It all depends on where you live as to what you can get for your cash. On the Sunny Coast the Mrs to be and I could have bought something but it would have been a box and still needed about 40k in renno's before it would have been liveable.
Or for the same dollars without the renno's build and get what we want and move in. That was what sold us on building. Re: Need help, surgestions, not sure what to do.............. 4Feb 27, 2009 7:55 am Hi,
I dont have any advice but am in almost the same situation. I have put a holding deposit in the prices by the builder and was waiting for the next release of the development to be released(only 17 lots) now it has been released I have been told thereare approx 50 people interested in these 17 lots and Im not too sure this is the street i want to live in, and considering prices have gone up $20000 since the previous release its a big decision. Just if you had a crystal ball, will the land prices go down? Will the FHOG be continued? Selecting the timing is just a gamble, but i am determined to build as i want the freedom of choice. Re: Need help, surgestions, not sure what to do.............. 5Feb 27, 2009 7:55 am Hi,
I dont have any advice but am in almost the same situation. I have put a holding deposit in the prices by the builder and was waiting for the next release of the development to be released(only 17 lots) now it has been released I have been told thereare approx 50 people interested in these 17 lots and Im not too sure this is the street i want to live in, and considering prices have gone up $20000 since the previous release its a big decision. Just if you had a crystal ball, will the land prices go down? Will the FHOG be continued? Selecting the timing is just a gamble, but i am determined to build as i want the freedom of choice. Re: Need help, surgestions, not sure what to do.............. 6Feb 27, 2009 8:12 am Its easier to get what you want where you want it if you build, problem is that there arent many bits of vacant land close to the city.
The best way is to look at those real estate sites that show you a map with the for sales marked on it, that way you can easily identify how close to the city it is + find one in a closed street. Next is to find one without rock...cheapest way wouuld be to visit land, once chosen, and take a 1.5m metal spike and a hammer and see how easily you can hammer it in the ground. The rest is up tou you and your chosen builder, just make sure that you secure the land before choosing a house. Oh and be careful of the liquidated damages clause in your building contract (there are other threads that deal with that on Homeone) Re: Need help, surgestions, not sure what to do.............. 7Feb 27, 2009 8:15 am Hi KW,
We had been saving up for our house for a while and wanted to buy a house this year FHOG or no FHOG. However we changed our mind to building ... here's why : Established home : Pros: Property prices going down, Ready to move in, all additionals already covered (upgrades to evap cooling, backyard landscaping.. etc) Cons: Settle for whats available, 17K grant, its old and used, huge stamp duties New home: Pros: U get what u want !! 26K grant, save on stamp duties Cons: Is it worth all the headache ?? Hidden costs, waiting time before move in We setlled for building cos dint find any established house that we really liked. Also, a friend of mine decided to do the same and we are now eachother's airbags! At the end ... figure out what best suits u! Land Settled 27/04/09. Site Started 30/4/09. Slab poured 21/5/09. Frame up 27/5/09. Building thread : viewtopic.php?f=31&t=15699 Re: Need help, surgestions, not sure what to do.............. 8Feb 27, 2009 10:24 am Thanks kind people. Yes its up to me. I know I need to make up my mind and just do it. Pros & cons in all things in life. If it was a perfect world I would build, Im sold on the pros and will put up with the cons. Much better value.
Being from a business background Im thinking resale, investment also. Jessica mentioned falling house prices, They should be but not to the tune of 26k buy June 30. Cant find a bargan established as most vendors naturally want to make a profit. Step 1 Find the place I want to live. 2 Check extablished. 3 find block 4 Find builder 5 Build 6 Stress out 7 Move in 8 Live happily Ever after. Sound good? Thanks for the support and ideas. KW................ “It's just as unpleasant to get more than you bargain for as to get less” George Bernard Shaw. Thanks for your reply! All valid points and I agree with you on many of them. I am in QLD, any recommendations on a construction lawyer would be helpful 3 2634 Hi there, I'm a conplete newbie to this, but I'm looking to put a floor down in my 6x9m shed. It's currently sitting on a 100mm thick concrete perimeter (dirt floor… 0 6467 Hi VK, I am now retired however I have stood beside over 300 owner builders in the past 18 years that have successfully built their own homes. First of all a building… 10 22661 |