Browse Forums Building A New House 1 May 21, 2010 7:33 pm Hi everyone, seems I am in the right place for this question as you all seem to have so much experience in this area. We have owned our home for 5 years, it is a very ugly old house that needs lots of work. We bought it pre children thinking we could do it up ourselves however 2 children arrived on the scene and now it is so difficult to find the time and inclination to renovate and it needs so much work just to make it more functional let alone attractive. We have thought perhaps we should demolish and rebuild but we have a fight about finances, it doesn't seem to work out like a very wise financial decision. When we could sub divide and on sell make a profit and build elsewhere. It seems sinking all the money into this house would leave us with a very big mortgage as we would essentially just be adding at least $200,000 onto our mortgage right? We do love the area we live in though so we are in a quandry? Anyone else been in this situation???? Re: N00b alert: Help have a question???? 2May 21, 2010 7:39 pm Could you sub divide, build two, live in one & sell off the other therefore easing your mortgage???? Cooper's Build - Perth NOR viewtopic.php?f=31&t=30525 Prelim- mid Sept 2009, Pre Start 2 Feb, Siteworks- 21 April 2010, Slab- 10 May, Deliveries- all by 26 May Bricking- 28 May - 26 June, Roof complete 5 Aug, Float 28 Aug, Lock up 16 Sept Cabinets 1 Oct, Tiling 22 Oct, PCI 18 Nov, KEYS 3 Dec 2010 MOVED IN 17 DEC 2010 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 39767 Hi All, I just wanted to close this topic out with an update. So we ended up agreeing to a number with the insurance company, and after an extensive amount of hand… 8 23405 You have mandatory building inspections and privately engaged building inspections. The difference between the two comes down to inspecting the building so it's safe and… 3 18084 |