Browse Forums Building A New House 1 Oct 12, 2015 6:10 am Hi everyone, Just looking for some advice on companies to use for a knock down rebuild. Never gone down the route of building before but our current home we have been in for 2 years needs so much renovation done (probably around 200K worth) to get it to where it needs to be. We are thinking of just knocking it down and starting again. So I am wondering who are good companies to use and who to avoid. I've found some perfect layouts with places like Masterton and Huxley home as well as a few kit homes etc. But I have read quite a few horror stories of builders and companies that start then disappear with the money and set up shop elsewhere etc so I am just looking for some reputable places to use. We are still not sure if its best to just get the renovations done or knock it down, need to speak to some places first. We will also be using the equity in our current home which we will need to look into how that works. We have a quite large mortgage but our house is worth more than double what we owe if we sold. Thanks for any advice Re: Good companies to use for knock down rebuild 3Oct 12, 2015 8:13 am Of course! Sorry, Sydney (Northern Beaches). Re: Good companies to use for knock down rebuild 4Oct 12, 2015 8:21 am Sorry will bow out here. Melbourne is what I know a little about. Good luck. However something to note, your parcel of land might be worth more than the mortgage on it (even double) but that doesn't translate to equity necessarily. The bank will primarily do a refinance of up to 80% on of that equity. Additionally the final product needs to be of a significant value to offset the new greater mortgage by enough for the bank to take the risk. The Sydney market looks to be cooling, and a possible correction may be on the cards, which the bank will take into consideration when doing calls on the deal. Keep your KDR expectations realistic. Good luck! Creator of superduperonium, expert at expert things, nobel laureate, can hold my breath for 10 minutes. We've had the offer of a short term tenant whilst waiting for CDC/DA home approval and demolition for our knock down rebuild. It would achieve a pretty low rent as it's… 0 13752 Hi I live in a 100yr old semi and my neighbour added an additional floor last yr and our architect has advised that we can knock down our semi and build a free-standing… 0 37704 5 6812 |