Browse Forums Building A New House 1 Feb 27, 2013 10:16 pm Hello Guys, For people who wish to understand the gist.. Is it worth spending 30k-40k more on house&land package to get similar house with similar inclusions as a off-the-plan house. Now, for the ones to understand in detail, our status is: Experience : First time buyers and first time in market. State : NSW. Developer of land estate = Land lease Supplier of off-the-plan package = Edgewater homes Builder of house = Masterton / Eden Brae homes And, we intend to get into a new house than existing ones. This is both to avail the first home grants as well as to enjoy a new home. One of our friends got a house&land package there and told us about this great deal of paying 5% deposit and wait for the house to be delivered. The cost of the land they got 255k and the total package was 510. Edgewater homes have a good set of inclusions. http://tinypic.com/view.php?pic=21almxj&s=7 So, I calculated the cost of house as 255k with all the above mentioned inclusions. The size of the house is 247 sq.m (including alfresco etc.,) Now, when we went to look for the lots, we didn't like any of the designs provided as part of the house & land packages they have... so after checking, we decided to go ahead with a lot and get a house&land package on our lot after checking with the builders. We looked at Masterton and Eden Brae homes and found couple of designs which we liked. And, when I got the quote, it appeared that the cost of building the houses around 254 sq.m including alfresco, aircon etc from these builders is at least 270k. While I started wondering if I should put 25k extra because of choosing the builder separately, I got to know about the fact that what my friend took is called 'off-the-plan' and not house&land package. Yes, stupid me. Now, when I compare, it appears that I would have to spend at least 10-15k as additional repayments during construction. So, the total additional cost of the house is 35-40k and it appears that the end house is same on paper barring couple of design changes. When I mean same, I am talking about technical specifications like built area, inclusions etc., The only self-consoling-thought for me now is that, off-the-plan guys do a standard construction and does not allow any huge modifications (I need to confirm about this) and the construction quality might not be as good as getting it done as a seperate build. But, I can confirm that only after looking at the finished houses. My friends who saw the display home of the off-the-plan package (which I can't see anymore since it was bought by someone else) vouch that the house was fantastic. So, now I am wondering what is that I would be getting for the worth of extra 30k. Some of my above assumptions might be wrong, but, based on your experiences, what do you reckon, is it still worth proceeding with custom build? Or I just have to wait and find another off-the-plan package. Thanks a ton for your patience in reading so far. Your advice would be highly appreciated. PS: I posted this first on whirlpool, so, sorry for any whirlpoolians who might find this repeated. Re: Off the plan vs House&Land package 2Feb 27, 2013 10:28 pm Some of the the house and land packages are cheaper because they are based on the less attractive blocks (see http://www.anewhouse.com.au/?p=996) Also don't believe that everything in a display house is what you get. Most display homes are built with upgrades that would add another 40-50% onto the base price. As far as quality goes someone I know who is a pretty good tradie tells me the only work he gets with a volume builder is display houses. The normal houses get done by someone who is cheaper! The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: Off the plan vs House&Land package 3Feb 27, 2013 10:47 pm bashworth Some of the the house and land packages are cheaper because they are based on the less attractive blocks (see http://www.anewhouse.com.au/?p=996) Also don't believe that everything in a display house is what you get. Most display homes are built with upgrades that would add another 40-50% onto the base price. As far as quality goes someone I know who is a pretty good tradie tells me the only work he gets with a volume builder is display houses. The normal houses get done by someone who is cheaper! Thanks for that bashworth... I see what you mean.. But, even if when included only the basic inclusions (As provided by the off-the-plan) to the masterton designs for a same house, it is coming around 270k. This is what baffles me.. Are masterton/eden-brae really expensive, or are edgewater really cheap quality... Re: Off the plan vs House&Land package 4Feb 27, 2013 11:25 pm It's all a matter of economies of scale and efficiency. Edgewater are probably able to build cheaper because they are building the same house, to the same basic specification, with the same land developer, with the same basic fit/finish and fittings. Generally the only difference is in the facade look and interior decor ( colours, floor coverings, tiles, etc). It's a cookie-cutter approach. For Project Homes these builders are coping with a wide range of different plans, diffent finicky customers, difficult council and developer requirements, etc. All this variation slows the process down. They need a wider range of fittings and suppliers. I actually think the quality of the Edgewater constructions homes is pretty good ( I nearly bought a completed one ). I had the contract and was just about to sign when some land became available and I decided to go with a custom builder. If you shop around you can find good value for money. I ended up steering clear of the big well-known builders and found a custom builder that I think will do a better job on a house that is tailored for my needs. Build thread: here Land Nov 12, Contract 6/07/13, Consent 15/08/13, Start 20/09/13, Slab 25/09/13, Frame 4/10/13, Brick 21/10/13, Roof 2/11/13, Lock-up 17/12/13, Handover 3/3/14 Re: Off the plan vs House&Land package 5Mar 02, 2013 9:41 am maximus I actually think the quality of the Edgewater constructions homes is pretty good ( I nearly bought a completed one ). I had the contract and was just about to sign when some land became available and I decided to go with a custom builder. If you shop around you can find good value for money. That's the interesting thought. Because, I really can't find any fault with the Edgewater constructions built homes, i am unable to make a decision whether spending 30k extra and more stress is worth going with a custom builder. So many hard decisions to be made. Today we are going to see display homes of both Edgewater and Eden Brae again. Let's see what we shall like it. Re: Off the plan vs House&Land package 7Mar 12, 2013 11:39 am I'm glad you came back and posted your final decision - we are looking closely at going with Edgewater at the moment, and I'd be really interested in hearing your rationale for going with Off The Plan. Did you end up visiting the Edgewater display homes? We really love the design of one of their houses, and the price is within our budget. From looking at other builders, the prices are just to volatile for us to be confident about how much the final cost will be. Unexpected site costs, upgrades, "Extras" packages, facade upgrades.... it all adds up, and there are lots of little additions that I would never have thought of such as the NBN charge of $1,000 for the Eden Brae we were looking at. The Edgewater homes have a lot more as standard and they don't have pre-packaged offerings for upgrades. The display home is certainly a lot closer to what is included in the quoted price, than any other homes we went through. To make our house look like their house, we would need to add ducted air for $7,500, wall paper to feature walls, window coverings and pelmets, fly screens, different shower heads, furniture, artwork and a few fancy decorative features. Most of that is not on offer anyway in the standard package of any of the other builders' houses that I could find (except perhaps the ducted air and fly screens). We have been told by Edgewater that we can go through near-complete homes prior to make colour scheme choices, so that would give us an insight into the quality of the build of a "real" home rather than a display. They also already have set colour schemes to choose from (which consist of walls, tiles, carpet, floor boards etc as a package). Some people may not like it that they can't mix and match, but for me, that's perfect. Too many decisions otherwise. I believe there is a distinction between "off the plan" and what Edgewater do, which is an important one for some types of finance approvals. Edgewater is more of a "Master Planned" house option. They are affiliated with Lend Lease, who are the developers of the estate we are looking at buying, and to build with them, you need to get THAT house on THAT land. This is the same for true house and land packages, but with one major difference - that, whether or not they have a buyer, they will go ahead and build the home. You can put down your deposit and lock it in as soon as they make the package available, or you can buy ones that are near-complete. CommBank is one that I know of that won't do a guarantor loan on an off-the-plan purchase, but they treat Master Planned homes differently. Very good points. Thanks so much ponzutwo for your advice. Appreciate it. 2 9482 I couldn't attached the photo for some reason. Here is the link to the photo https://pin.it/79jwdMp 1 1833 Get some long brass machine screws and bolt right through the gate and put brass acorn nuts and washers on the other side. It will never come off 1 5652 |