Browse Forums Building A New House Re: Land and house valuation 8Mar 30, 2017 7:55 am ![]() We are in Brisbane Yes there has been a lot of valuations in QLD that have recently where people had to discontinue their purchase due to the Finance clause as the valuations were not even close to the purchase price. I have two clients who bought in Omearu where their valuations were under by $35,000 and their bank was Suncorp. Perhaps maybe you might need to seek another lender? Kind Regards, Bruce "Building an Eden Brae Waldorf 50 in North Kellyville" Blog: http://waldorf50.blogspot.com.au Re: Land and house valuation 9Mar 30, 2017 9:29 am ![]() ![]() We are in Brisbane Yes there has been a lot of valuations in QLD that have recently where people had to discontinue their purchase due to the Finance clause as the valuations were not even close to the purchase price. I have two clients who bought in Omearu where their valuations were under by $35,000 and their bank was Suncorp. Perhaps maybe you might need to seek another lender? Kind Regards, Bruce "Building an Eden Brae Waldorf 50 in North Kellyville" Blog: http://waldorf50.blogspot.com.au Thanks Bruce, we have already submitted to another lender. Will see how that goes. Re: Land and house valuation 10Mar 31, 2017 5:59 pm ![]() Hi Mafu and girlie, thanks for sharing your experience. Would you like to breakdown your cost (land price+ house base price+ cost of total upgrades) etc sharing here so we get an idea? I think the house we are building will be 100-150k over median house value in the area. But our land size and house size is big. I am pretty sure bank will value ot lower. Worried .. Hi faykis, we're building in a suburb with a big variety of houses, there's a lot of older properties (30-50yrs) recently established estate (15-20yrs) and a brand new fancy pants estate (where we're building ![]() ![]() Re: Land and house valuation 11Mar 31, 2017 6:03 pm ![]() ![]() ![]() Hi everyone, we just signed our final contract with our builder. We just had valuation done and have been told it is $40000 under, has anyone experienced this before? We have ordered another one and hopeful it will come back at price. Yep ![]() Thanks TheGirlie, can I just ask how you managed to settle your situation , did you go ahead and just pay the extra out of your pocket or did you just decide to build somewhere else? Hey mafu, it sounds silly but we took out a personal loan to make up the difference ![]() Re: Land and house valuation 12Mar 31, 2017 10:31 pm ![]() Hey mafu, it sounds silly but we took out a personal loan to make up the difference ![]() Really? But then you will be paying a much higher interest rate for the personal loan ![]() Kind Regards, Bruce "Building an Eden Brae Waldorf 50 in North Kellyville" Blog: http://waldorf50.blogspot.com.au Re: Land and house valuation 13Mar 31, 2017 11:17 pm ![]() ![]() Hey mafu, it sounds silly but we took out a personal loan to make up the difference ![]() Really? But then you will be paying a much higher interest rate for the personal loan ![]() Kind Regards, Bruce "Building an Eden Brae Waldorf 50 in North Kellyville" Blog: http://waldorf50.blogspot.com.au Yeah it's completely ridiculous!! ![]() I'm based in Adelaide and I'm considering purchasing a house and land package from Weeks Homes. I found a deal that looks good, but there's a complication: the land isn't… 0 1550 Hi everyone, I'm very new to the housing market and would appreciate any guidance. I have found what I think is a good land and home package. Marketed as "turnkey".… 0 1179 13 7276 ![]() |