Why you decided to build?

ESB · Sep 09, 2010 10:05 pm

We decided to build as there just isn't anything that ticks all the boxes for us By the time we renovate an established place to suit us, we will have spent the same amount as if we'd built new ... so thought why not. ::dizzy::

n&n02 · Sep 10, 2010 12:51 pm

We had half renovated our old house but came to a cross-road of having to do some really big renovations and spending HUGE $$$. We needed new bathroom/toilet upstairs, half of downstairs (the area which included a 2nd bathroom/toilet/bedroom/rumpus room) needed to be ripped apart as it had bad moisture issues, a new deck to replace the existing one, new driveway, landscaping, laundry, roof needed to be resealed, the list goes on and on and on with old houses.

So we looked at the cost of a new house with land vs the cost of how much those renovations would cost us and the bonus of having a brand new house. Well the pros we're obviously in favour of building new. We owe more on our new mortgage than our previous one but by the time we added up those renovations and added them to our old mortgage we are heaps in front!

(Plus DH will now have weekends/ a life back cos he has to do no more renovating!! ::lol::

)

KnockItDown · Sep 10, 2010 1:28 pm

We owned an existing small 3/1&1 house on a good sized block but the house was positioned with a huge front setback. We investigated our options of extending forward and backward but the cost prevented this. Going upward was also ruled out due to costs.

We also could not find anything affordable in the size we wanted so selling up and buying again would have seen us with an even larger Home Loan.

Other considerations were the age of the house also meant a complete re-wire and re-plumb so we went the Knock down rebuild road.

Estim · Sep 10, 2010 2:14 pm

We were looking to rent and worked out it wasnt mush more to pay off a mortgage. We looked at established houses and to be honest at the lower end of the market they were
%@#*. I work for a builder so it seemed the best way to go. The difference is we got a brand new house in a good area, compared to a 20 odd year old house in a not so good area.

kexkez · Sep 10, 2010 10:52 pm

we couldn't find anything established that suited our needs.

asha · Sep 11, 2010 2:44 am

We are currently on our fourth build in just over 9 years. Must be a glutton for punishment but am sure this will not be our last either.

Built our first place when I was 19, the main reason for doing so then was that it was cheaper to put a $500 deposit for house/land package than it was for bond on a rental.

After having our first house built specifically to our tastes (which in 2001 meant a bright blue and yellow bathroom.....OMG what was I thinking) we realised that we probably could not ever see ourselves buying someone elses place, on top of that every house we looked at we worked out we could build it better for cheaper.

mecha-wombat · Sep 11, 2010 4:36 am

well after looking at the CR@P that people are trying to sell for top dollar in Sydney, the economics of just getting those places up to 20th century specs was just as much as building a new home.

After fixing up the 2 bedder we currently live in, well I am well over it!!! Can't wait to sell and start harrassing someone else to complete the house, instead of myself

Dove · Sep 11, 2010 6:24 pm

We like where we live in Melb's West. It worked out cheaper to squash the old house and build a new one than it was to renovate the old house with all the left over problems that a Reno didn't cover.

We have had the odd Oh Dear and Oh Gosh but it was the best decision.

shonzilla · Sep 11, 2010 8:15 pm

Was sick of renting and everything established was costly for a
safe suburb. I've changed my mind today. I should live in a caravan
in the bush the way thing have gone latly.