Browse Forums Building A New House 1 Aug 14, 2009 1:33 am Hey Guys, Looking into building my first house, unfortunately it is going to end up being an investment property because it is atleast $600,000 to build a very very basic 120m2 house here in Karratha which is absolutely insane. So i have a few questions as Perth is a new and very different experience to trying to build a house up north! At this stage i will be looking into Building in Baldivis as it seems like a nice area, close enough to Perth and close to all the amenities. Now the questions........ -Is it easier finance wise to get a house and land package? or buy the land then go and get a house once you have the land? I've got 20k deposit and can't go through keystart -Recommended builders for House and Land Packages and Houses? (at the moment i'm awaiting some quotes from Dale Alcock and Celebration Homes) -Is Baldivis a good area to build an investment? -From experiences what is a realistic price for House and Land ready to move into? so turnkey? Thanks guys, Re: First Build Help......Perth! 2Aug 14, 2009 2:23 am Welcome karratha, House & Land package would probably be easier, but I am not sure if it is the best option (I have house & land). I know Baldivis has lots of land still available, don't see why it wouldn't be a good investment. I will recommend by builder... but then I am biased (i work there) though they are good, otherwise I wouldn't build with them You should be able to get some land and a house for around $400000 give or take, depending on tastes and land prices (4 x 2 house). Candace Built with New Generation (Summit Homes) We own land!... with a slab on it! Plus a shell of a house with stuff inside ! Re: First Build Help......Perth! 3Aug 14, 2009 11:21 am Hi, just a thought ... if it is for investment only and you are living up North, why don't you buy an established house or unit? There are some absolute bargains out there, you can claim all your expenses on tax regarding fees. You have a great deposit. With $400K budget, you have to take in to account the establishing of a new house, landscaping, painting, lighting and electrics (there is never enough in the basic price) ... these over and above costs can easily climb up to around $40-$50 k extra. For an investment property, apartments and smaller units are excellent, usually less maintenance. For the budget you have you can buy in quite a nice area. You can replace carpets, repainted etc. and claim it all back on tax. I'll give you an example to think about, we just sold our investment unit for $289k ... an investor bought it, and they had a tenant moving in the weekend after settlement at $260 rent per week. (Mandurah area). Good Luck with whatever direction you take. Re: First Build Help......Perth! 4Aug 14, 2009 12:15 pm I'd check out suburb profiles online to see if it is the right spot for your investment house. I know they have a train station but not sure about other amenities? I think investment is very much about location and amenities as these things attract renters. *Built with Gemmill Homes in WA* Slab - 1st June 2009 Plate Height - 17th June 2009 Lock Up - 18th August 2009 PCI - 5th October 2009 Hand Over - 15th Oct 2009 https://forum.homeone.com.au/viewtopic.php?f=31&t=20844 Re: First Build Help......Perth! 5Aug 14, 2009 1:35 pm Thanks guys, yeah a unit is something i might look into, a lot cheaper as well..........The reason i was looking into houses was because the amount of equity that's in it once the house is built then use that to get myself a house where as an existing house isn't going to give me that equity in the next 6 months. Jaelee, yeah thats the worrying thing, all the builders say it's 179k then all the hidden costs come out, but most of them have given me turnkey price so everything right down to the letterbox and clothesline is done. A few of the estates give you 7k or 10k for landscaping and they do the fencing which is pretty good. Baldivis is going to have a few primary schools, close to a private high school and only 5-10mins along Safety bay road to the Warnbro station. Considering i thought these guys wanted business, emailed about 10 different company's, heard back from one.... Dale Alcock and been waiting since Monday for them to get back to me again.......just as bad as up here! Thanks again Re: First Build Help......Perth! 6Aug 14, 2009 2:12 pm Karratha, just look in to the equity thing. There are established places on the market now that are way below replacement value. Because the market it so low, IMHO whatever you buy in this market can only go up. If we were looking at another investment property I would buy established. Less stress too and an immediate tenant paying you rent. Building new you will have payments to make with no incomings until house is complete. You are also not close by to check the progress and quality of the build. With regards to Baldivis it's a great area. Lots of houses going up. My friends have just about finished building there. It has an excellent private school called Tranby. It certainly is a growing suburb and the fact they have kept so many trees makes it still feel quite country. Another new suburb not too far from Baldivis and growing all the time is Lakelands, again has an excellent private school, just opened a huge auditorium, and a planned new train station (still being discussed). Again they have kept a lot of the trees to give it a nice country feel. Another couple of suburbs to check out would be around Pinjarra, Austin Cove, Yunderup, Ravenswood (Riverland Ramble) area. Excellent growth in all these areas as the freeway (Perth to Bunbury) is just about open there (next month??), with a main exit on Pinjarra Road. Good capital growth potential, and I believe in Riverland Ramble are offering house and land packages for around $300k. Just my two cents worth .... It's exciting looking, and whatever direction you take .. it's a great market to be looking at real estate, be it established or building. Re: First Build Help......Perth! 7Aug 14, 2009 10:42 pm Thanks Some more suburbs to look in, actually have a friend who lives in South Yunderup, very nice peaceful area and only 10mins to Mandurah. The other reason i can't buy an existing house as i found out today is the stamp duty, on 380k it was something like 15k ontop of a 5% deposit so not doable, however building it's only 4.5k so big difference. Got a quote back from Dale Alcock, in the Evermore Estate, Baldivis.....for a decent 4x2 on 482m2 plus a heap of rebates from the developer 395k, thats every single thing done ready just to walk in and thats aircon, letterbox, landscaping, retic, tv antenna and a few other small things you don't even think of. Seriously looking into that, i think it's a great deal personally and from what i've heard Dale Alcock is a pretty good brand, might be a few k dearer than others but they seem to have very positive feedback. But going to see what kind of packages i can find in Lakelands as well......... Cheers, Re: First Build Help......Perth! 8Aug 14, 2009 11:13 pm Your deal with Dale Alcock sounds excellent. DA do have a good reputation and Baldivis is a very good location. Great you can get an all inclusive price. You will then know exactly where you stand. I love South Yunderup too. My parents live there on the canals ... so peaceful. They are also going to be building a private school in the area (Baptist College). I think with the freeway exit and the marketing of Austin Cove people will soon discover South Yunderup ... not sure if that's a good thing or not Exciting times ahead for you ... again, good luck and all the best of wishes. Re: First Build Help......Perth! 9Aug 15, 2009 9:31 pm Thanks, certainly a scary thing to leap into! but will see how it all goes. Think i might sign up subject to finance, got a few other quotes back for similar houses but bigger blocks of land and all are dearer with the exception of HBC but then you need to add everything in anyway so ends up being that price. Only thing im not sure about is the land......481m2 but then it's only a first house and an investment so really who cares! Re: First Build Help......Perth! 11Aug 18, 2009 1:00 pm I certainly wouldn't worry about a 481sqm block for investment. There is less garden to worry about looking after - as long as there is a piece of grass for the kids to run around on and a spot of the BBQ. *Built with Gemmill Homes in WA* Slab - 1st June 2009 Plate Height - 17th June 2009 Lock Up - 18th August 2009 PCI - 5th October 2009 Hand Over - 15th Oct 2009 https://forum.homeone.com.au/viewtopic.php?f=31&t=20844 Re: First Build Help......Perth! 12Aug 18, 2009 1:07 pm karratha The other reason i can't buy an existing house as i found out today is the stamp duty, on 380k it was something like 15k ontop of a 5% deposit so not doable, however building it's only 4.5k so big difference. Are you eligible for the FHOG? If so, you also get the First Home Owners rate of duty. On a $380k established house you wouldn't pay any duty. http://www.dtf.wa.gov.au/cms/content.aspx?id=206 http://www.dtf.wa.gov.au/cms/content.aspx?id=955 Of course you'd need to occupy the house once bought to be eligible... so maybe not an option. New beginnings. Re: First Build Help......Perth! 13Aug 18, 2009 1:25 pm Another investment oppertunity is to buy an already built display home. If you look on all the builders websites you can see display homes for sale or ready built homes for sale. All the hard work is done and you get a newly built home with the builder paying you rent or its already finished and ready for renting......just a couple of other options. Then its not an established house as such because some of them are still to be finished. hi guys. Please be nice. First time home builder in Qld. I would like some feedback please on whether I should build my granny flat first before my main house at the… 0 4724 So it looks like we finally have some movement on site! Definitely later than expected, but I'll take any progress at this point. I'll drop by over the weekend to get… 5 28788 Thank you so much everyone. This all makes a lot of sense. I guess when you talk to a builder who butters up everything to look very polished, you get to start believing… 7 18099 |