Browse Forums Owner Builder Forum 1 Aug 08, 2014 8:48 pm Hi I was hoping someone could help, I am about to complete the forms for my owner builders licence in NSW. One of the questions asks for the market value of the building work, as I am going to be doing a lot of the labor myself, I am wondering how to estimate this amount. Any advice would be appreciated. Re: Market value of building work 2Aug 08, 2014 11:40 pm I assume you've worked on a budget for this build, haven't you? Take that figure and put it down. Owner Building at Jimboomba Woods in Logan City Qld. Blog : http://bandlnewhomebuild.blogspot.com H1 thread : viewtopic.php?f=38&t=68283 . Re: Market value of building work 3Aug 09, 2014 5:50 am bpratt I assume you've worked on a budget for this build, haven't you? Take that figure and put it down. Hi, yes I have worked out a budget, though the question is for the "market value" my only experience with market value is with cars, where they mean its worth. Is there implications down the track if the price I say is too low. e.g. insurance or anything else. Re: Market value of building work 5Aug 09, 2014 8:59 am Market value refers to what the house would be worth if sold on the open market. I would find the prices of similar houses in your neighbourhood (using 'domain' or 'realestate' dot coms would be easy enough) and put that down. If it's for the owner builder licence I wouldn't worry too much - they're really just checking the build is over the minimum requirement for an OB licence. (Though you will need the same figure when putting in your DA.) Re: Market value of building work 6Aug 09, 2014 9:54 am If it is for insurance purposes I would think it would be replacement. If you wanted to get technical and in an insurance claim it may do, an accountant would define market value as the value of the asset in the your most liquid market. So I would take that to mean what you could reliably replace it for. Personally I would add an estimate for your time at what ever your specific trade charges and then time charged at the general labourer's charge rate. As a tradesmen get a private inspector although I don't think there worth it in their profession themselves the reminder they serve to the tradesmen doing the work is… 3 27364 They make the room much easier to clean for one, reflect more light (if light colour tiles are used), and you dont end up with dust on the top edge of tiles (cause most… 3 9604 The last home I lived in didn't have a pool and when i went to sell it the agents were not happy, even telling me to put one in to sell the place. The agents weren't happy… 2 4246 |