Browse Forums Building A New House Re: Need Suggestions for under 350k for 40+ Double Storey Ho 4Aug 23, 2019 10:44 pm I think your unrealistic at 350k. Perhaps a prefab builder? Doubt even they could build and erect the modules for less than 500k. Please by all means explore with the full spectrum of builders, but be prepared at that price your looking at full exterior aluminium cladding (no painting), simple bathrooms, simple kitchen, and little to no fitout in rooms or cupboards. I'm sure you can make this build on a budget work but be realistic as 350k gets very little in the way of exterior and interior material choices. Re: Need Suggestions for under 350k for 40+ Double Storey Ho 5Aug 24, 2019 12:24 am You might be able to find a 40sq house at around $350k with some of the volume builders - have a look at Metricon, Simonds, Carlisle, etc. But this would also depend on you having a flat piece of land with no surprises in site costs, and for you to have basically no upgrades at all to your build. This would also not include things like driveways, fencing and landscaping. As for future resale, I've seen houses before that were finished very basic, and all I can say is that they weren't very particularly appealing to buy.. My build with Inspired/ Como Homes: https://forum.homeone.com.au/viewtopic.php?f=31&t=93656 Re: Need Suggestions for under 350k for 40+ Double Storey Ho 6Aug 24, 2019 8:11 am We are looking at Belrose 39 from metricon and will assess their design. What would you guys recommend then? Building a small house or building a big house for resale in that area? A small house wouldnt look great given it is 700 plus land. West do you guys think. Thanks for your valuable input. Really appreciate it. Need Suggestions for under 350k for 40+ Double Storey Homes 7Aug 24, 2019 8:50 am Look at single storey designs instead. They are at least cheaper per sqm to build. They’re fine on a 700 block too, plenty around where I am, they don’t look odd. Agree with PPs that going only the most basic finishes can leave you with a very dreary end product! Better to go smaller (3br? One living instead of 2?) and have some upgrades. A 40sq house is actually really big. We have a tad above that, but it includes an attached granny flat! Re: Need Suggestions for under 350k for 40+ Double Storey Ho 8Aug 24, 2019 8:53 am Agree, that's where we were going earlier. But the only thing that stopped us from going that path was the fact that most of the houses on that Street are double storey and they are making beautiful homes. Re: Need Suggestions for under 350k for 40+ Double Storey Ho 9Aug 24, 2019 10:29 am samoz Agree, that's where we were going earlier. But the only thing that stopped us from going that path was the fact that most of the houses on that Street are double storey and they are making beautiful homes. Financially, the worst house in the best street is always better than the best house in the worst street. Trust me. Re: Need Suggestions for under 350k for 40+ Double Storey Ho 10Aug 24, 2019 10:34 am samoz Agree, that's where we were going earlier. But the only thing that stopped us from going that path was the fact that most of the houses on that Street are double storey and they are making beautiful homes. For $300-$350k you will not be making a beautiful home. Are building it to live in? Or for resale? You need to write a list of your requirements, eg number of bedroom, living rooms, bathrooms, then a list of the things that would be nice to have such as study, theatre room, butlers pantry etc. Once you’ve got your priorities then go look at the display homes, get a realistic price. but a 40sq double story home for $300-$350k is not doable, particularly if you need to add driveways, window coverings, floor coverings, landscaping etc. Maybe you need to look at a smaller cheaper block and compromise on the block a little so you can spend more on the house. Re: Need Suggestions for under 350k for 40+ Double Storey Ho 11Aug 24, 2019 10:36 am Thanks mate. What would you have done if you don't intend to live there build still want to hold the land with property to get decent rent. Do you think building a 30 sq type of house would be better from the point of view of getting the max potential out of land? We are in a conundrum where we know the land price at which we bought isnt too bad but then building would make it unreasonable for many first home buyers. So the question is, is it worth building expensive to attract buyer who wants a big house or someone who just want a basic single storey house with big backyard. We are just in that phase of different options. We are brainstorming right now and appreciate your input. Thanks Sam Re: Need Suggestions for under 350k for 40+ Double Storey Ho 12Aug 24, 2019 10:39 am Hi Samoz Welcome to the forum Whether you are considering a Renovation or Building new, you might want to consider providing more info ie Sketches, Quotes, Details,, predicting sales, profits,etc graphing Data is much easier when comparing alternatives Here renovate or knock down and rebuild? Cheers Chris Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Need Suggestions for under 350k for 40+ Double Storey Ho 13Aug 24, 2019 10:39 am Gogo65 we thought of living in it but plans changed. Now we are here with a situation, we bought it for 380k which is great in today's market for 700 plus. We are now exploring should we sell it or should we build a normal home and then keep it on rent and then sell it. That confusion is there at the moment. Re: Need Suggestions for under 350k for 40+ Double Storey Ho 14Aug 24, 2019 12:09 pm Have you spoken to real estate agents to get their opinions on what will or will not sell on that street? If all the houses being built are beautiful, high end double storeys, will building a basic double storey to sell be enough? Maybe it will be not fancy enough for buyers who can afford it, but be too expensive for those entering the market. A smaller single storey may attract a different segment of the market, maybe FHO who like the area but can’t afford the big houses. Re: Need Suggestions for under 350k for 40+ Double Storey Ho 15Aug 24, 2019 1:37 pm I have. They are divided and some saying single storey is best from selling point of view. Not everyone prefers double storey. But some who after looking in to the street tells me that build double storey as others have double storey and only if you make good building it will sell with enough margin. So we are selling views from other people. Appreciate all the input Re: Need Suggestions for under 350k for 40+ Double Storey Ho 16Aug 24, 2019 5:46 pm Tread very carefully as that area is a hot spot for mortgage arrears/defaults. Our build thread viewtopic.php?f=31&t=82369&p=1525857&hilit=fairhaven#p1525857 Re: Need Suggestions for under 350k for 40+ Double Storey Ho 17Aug 25, 2019 6:18 pm So you don't want to live there, but you want to sell the land at the maximum profit? Then get a planning permit to build 2-3 houses on the plot, and sell the land with the planning permit to someone wanting to build those houses. That seems like the way things are going in metro Melbourne! My build with Inspired/ Como Homes: https://forum.homeone.com.au/viewtopic.php?f=31&t=93656 Re: Need Suggestions for under 350k for 40+ Double Storey Ho 19Aug 25, 2019 9:50 pm Dang, well that money making idea is out then. Still, it's a pretty good sized block for a new estate - a lot of new land releases now are just over half the size of your block. Well I'd definitely sit down and do some sums. Would putting a $350k house on your vacant land increase the price by more than $350k? Just compare with the houses already built around you. If the answer is " well, just about.. and if I'm really lucky I might get $400k more" I'd be tempted to just sell the land as it is and save yourself a year or more of stress. My build with Inspired/ Como Homes: https://forum.homeone.com.au/viewtopic.php?f=31&t=93656 Re: Need Suggestions for under 350k for 40+ Double Storey Ho 20Aug 25, 2019 10:26 pm Yeah I am looking around for those comparisons. I am keen to see some personal stories of people in a similar situation and what worked for them? I know it is stupid to ask for different situation but apart from all the ideas shared above, I dont have much to explore at this stage. There are different results for houses selling in that area and some were sold less despite more land. So I am working hard to put my bet on a more reasonable analysis. 1 2470 Hi Kristy Around $1.7-1.8m or around $4,600/sqm. if you PM me your email I will send you a break up in a spreadsheet so you can get an understanding of the costs for… 1 736 |