Browse Forums Building A New House 1 Jun 21, 2010 11:52 am Hi Guys, In the current market trend,the cost of building a house is equal/more than buying a established property and more stressful.then why people prefer to build than to buy an established house. In the current trend,Land price alone comes to 200 k plus building goes around 200k to 240 k.it almost comes to 450 k to 500 k .with 500k you can buy an established house some what closer to the city than compared to land estate. lets discuss .... Re: building vs Buying a established property 2Jun 21, 2010 12:44 pm We could have bought in the same suburb as where we are building for the same price (land + construction), but we would have had to have done about 60-70k in renovations to bring the established house up to a level that still doesn't meet the finish of a brand new house. The established houses all had the closed in feel to them, and we wouldn't be able to choose tcolours/finishes for everything there. With building, we were able to move walls, add space where we wanted, choose our tiles, fixtures, fittings, wall colours, carpet etc etc etc, and the house has the open living feel to it, and it is completely brand new, it isn't used. Wouldn't you rather buy a brand new car rather than a used car, which could have soooo many problems with it that aren't disclosed to you. With exisiting homes, there can be many issues with them that you don't pick up, like leaks in the pool, garage door motors that get stuck dependant on what the weather does, garages that flood in torrential rain etc, with building, if things like that happen, it gets fixed under the warranty. Re: building vs Buying a established property 3Jun 21, 2010 12:56 pm Hi jean, We have previously bought 2 established houses & now are in the process of building our dream home. We initially looked around for an established again but found nothing we loved therefore we looked at land & display homes & designed a house to exactly what we wanted. Another thing to consider is if you have a budget of say $600,000 then you have to add stamp duty (big $) on top of purchase price for an established home where as not so for building. We could certainly use the extra $ saved with this towards the finishes to our new home. We have always made sure we had a building structural & engineers report done before buying established so we had piece of mind there. I don't think it's at all like buying a used car as there are some beautiful established homes on the market (just not our dream home when we were looking)!! & you can move in in 6 - 8 weeks as opposed to waiting 12+ months build time....... Pros & cons to both 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 Re: building vs Buying a established property 4Jun 21, 2010 12:59 pm I purchased land in an established suburb.. The houses in that area are very expensive, and usually require extensive renovating.. Building a new house costs you around $1100 psqm, with a volume builder, and renovations are usually in the order of $2500+, if you need another story, then that figure doubles. So I guess it depends, if you can find a house which doesnt need renovating and ticks all your boxes, then it's probably better to buy existing. If however you can't then building a new home in an existing suburb can often work out around the same price. I predict that when my build finishes I should be at least the average price for the suburb if not more... But how many houses in my suburb will be new, have a media room, sala, rumpus and 4 bedrooms? Well not too many i predict. Re: building vs Buying a established property 5Jun 21, 2010 1:02 pm if i had to do all over again, i will still build my own home. i learn so much from building one that it is becoming scary to buy an established home. sure building home is a painful and frustrating excercise but at least it is within your control. buying an established is no easy thing either now. people are just outbidding my offer ALL the time. it left us frustrated plus the weekly house inspection that you need to go thru. in the end i will choose the former for pain. at least there will be light at the end of the tunnel when the house is all done and of course you can get what you want and the way you want it. my 2cents MP Re: building vs Buying a established property 6Jun 21, 2010 1:19 pm You'd be pretty lucky to find a decent 4 bedroom plus study and 2 living areas house for $500K in my suburb and surrounds! If you did, then it would most likely be in original 50's - 70's condition and need extensive renovating! Prices here are going for over $1M for pretty average houses on good sized blocks. And around $700K for some pretty horrid looking ones! We had our house valued in '07 before we chose to demolish it and build our dream home. We knew what it was worth, and we knew what we needed to pay for the size and style/quality we wanted. The 2 didn't even come close, and we have built for cheaper than what the difference was, without having to pay stamp duty, or renovate someone elses tastes. Yes, it was stressful, but we got what we wanted for cheaper, and we love it! 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: building vs Buying a established property 7Jun 21, 2010 4:53 pm I'm with you Stormy, we've demolished and are just waiting on permits to start building. 5 bedrooms, 3 bathrooms etc etc, it would have been impossible to find this type of house let alone afford to buy it so for us it's the best way to get what we want. Mrs J. Re: building vs Buying a established property 8Jun 21, 2010 5:00 pm If i had the choice again, we would have bought a newer established home Dear J.K. Rowling, Your books are entirely unrealistic. I mean, a ginger kid with two friends? Sincerely, Anonymous Re: building vs Buying a established property 9Jun 21, 2010 5:01 pm I really just built because its something I always wanted to do and pick things myself- like floor plan, colour scheme, start garden from scratch etc - but there's no right or wrong answer to this, I previuosly bought an established house and renovated/extended it over long period of time. Family circumstances changed and house and block weren't right for us any more - probably could of found suitable established house but just chose to build. Re: building vs Buying a established property 10Jun 21, 2010 5:31 pm I am the same as Helyn, I have been obsessed with residential architecture since i was a kid. Building a house was always going to happen, my partner was totally against it - now he is right into it too...together we have headed up a royal commission into fixtures and fittings......i would build again after this but there is no way i could part with the house we are building...its got just about everything i wanted ...and from a project house.. pretty good! Re: building vs Buying a established property 12Jun 21, 2010 10:14 pm We've bought established once and built twice. I love building and getting what you want ( within budget) just how you want it which sometimes is not possible with an older prebuilt house. Our first home had potential to be renovated and continue to suit us but we decided to build so that we could have a new home that was at least free from major maintenance issues for a few years. We tiled the laundry, guttered the bathroom and modernised it, replaced the hws, added gas heating and redid the yard etc in the 3 1/2 years we were there.We were also not happy with the new neighbours and wanted to move. We lost both side neighbours within 6 months of each other as one set sold and moved on and the others , who were renting headed on to their next adventure. Both were replaced with renters. One lot were an absolute nightmare. The weekend we moved out after selling our home our little end of the street became a battle ground as one of the bad neighbours managed to make our neighbour across the road lose the plot completely and cause him to trash their car. yes it was a shock. news crews etc etc when we rolled up to tidy up the house. Still it was to be expected when they were in his yard in the middle of the night throwing plants, pots, tools around, smashing items screaming for him to come out and generally terrifying his wife and 2 small children who were in the house. Police were called but did not come. We only moved a couple of suburbs away from this older suburb to a brand new one. This house was open plan unlike our first home. After living in an older style home we decided we wanted to live in a house with one large living area. Building was the best way for us to achieve this without being in too much debt. 3rd house: moved to the country. We rebuilt to a similar design but with larger bedrooms and some additional rooms the 2nd built time around. Adding some additional areas to suit where we are in our life right now. The new house caters for our family computer interests with an area in the main living area for us all to use computers and be together but also has a playroom for kids to watch tv, an office for all my junk and work related gear as well as Dh's interests. We built bathrooms to cater for less abled for the future and added wider doorways. We couldn't have done this without major destruction/renovations in an established house. The chance of finding something in a small town even suitable for the reno's we'd have had to do would have been very unlikely. So we built . Re: building vs Buying a established property 13Jun 21, 2010 10:47 pm We have built 4 houses and bought only 1 established which I hated. Every time we have built cheaper and made money when we sold. Plus there is the added advantage of chosing the plan and colours etc, finishing it off how you want etc as already mentioned. I would always build every time where possible. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: building vs Buying a established property 14Jun 22, 2010 3:18 pm For me building turned out to be possible where buying an established house was impossible. I looked around Mernda/South Morang/Epping for a long period of time but because I was at the lower end of the market ($300k, single, yay!); I was easily pushed out by people with two incomes, investors and real estate agents who set the suggested price too low. I probably could have borrowed more money but I'm a very financially conservative person and didn't want to end up with a really big mortgage. Building meant that I wasn't competing with anyone else for the land, it was first come first serve. At the end of the day I walked away with a nice house (3 bed, 2 bath, double garage) with a bit of a back yard and a mortgage of just under $265k. Re: building vs Buying a established property 15Jun 22, 2010 7:46 pm Hi there, my partner and I are looking at demolishing the 1950's house we have on our block and rebuild. Jimbo1 how much did it cost for you to demolish your house and how hard has it been with council? We were quoted $177K to do a reno/extension on the existing house but have discovered that it may be cheaper to build a new house. Anyone have any suggestions? Cheers Michelle Re: building vs Buying a established property 16Jun 22, 2010 8:31 pm mmwarren2007 Hi there, my partner and I are looking at demolishing the 1950's house we have on our block and rebuild. Jimbo1 how much did it cost for you to demolish your house and how hard has it been with council? We were quoted $177K to do a reno/extension on the existing house but have discovered that it may be cheaper to build a new house. Anyone have any suggestions? Cheers Michelle Hi Michelle, For our house (3 bedroom brick veneer and about 14 squares) it was $10,800 to demo. That included about 6 mature trees (2 very large ones) a long driveway, concrete slab under 2 sheds and asbestos removal. Our double storey cost over $300,000, and there are still ongoing costs to get it finished (driveway, landscaping, flooring, window treatments). No problems with Council getting the house passed at all, but I do have to pay $250 to ask them if I can build a 1.5m brick pillar fence All Councils are different, and all situations are different. It may be cheaper for you to extend. For us, it wasn't a viable option due to land space and layout of original house. Was much cheaper and easier to demo and rebuild our dream home. 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: building vs Buying a established property 17Jun 24, 2010 9:49 am mmwarren2007 Hi there, my partner and I are looking at demolishing the 1950's house we have on our block and rebuild. Jimbo1 how much did it cost for you to demolish your house and how hard has it been with council? We were quoted $177K to do a reno/extension on the existing house but have discovered that it may be cheaper to build a new house. Anyone have any suggestions? Cheers Michelle Hi Michelle, the quotes we had ranged from 8k to 15k. We had asbestos in some areas and all the higher end quoters banged on about asbestos this, asbestos that and it really started to become apparent that they were using it as an excuse to hike up the price. We went with the lowest quote, we made sure they had all their insurances up to date, permits in place etc. I can't recall if I downloaded the forms from the net or if council faxed them to me but it was an easy process. I filled out the paperwork I needed to, handed it to the demo guy and he took care of the rest. I think the permit took around two weeks and they demolished a couple of weeks later. Our demolish was a 3 bedroom weatherboard, colorbond roof, freestanding tin garage, freestanding bungalow (lots of asbestos), long concrete drive, huge paperbark tree (extremely ugly so glad it's gone) and a couple of smaller trees. Our only problem has been the delay in building means the block has been empty for 9 months and is beginning to look like a forest of weeds!!!! Mrs J You might be able to apply to divert the sewer at your expense. In NSW you would contact a Water services co-ordinator and they would give you advice as to whether or not… 1 16145 Ask for some kickplate to be added and also for tradies to be requested to use lanyards on tools on that side of the building. Be respectful and have the discussion… 1 1689 The setback from the kerb is 4m. It is council land to provide an area for services like sewer main, gas mains, water mains, underground power or poles for overhead power,… 4 2394 |