Hearing today that home loan applications are low makes me think the cost of houses will decrease? Should we buy or build now or will the market drop again in the near future?
Any comments or suggestions are much appreciated!
Thankyou.
Browse Forums General Discussion Re: When will be a good time to build or buy - NOW OR WAIT? 3Apr 13, 2010 4:30 pm Budde Design 3D Architecural Visualizations, Architectural Rendering, Artist Impressions, 2D & 3D floor plans http://www.buddedesign.com nathan@buddedesign.com Re: When will be a good time to build or buy - NOW OR WAIT? 6Apr 13, 2010 8:48 pm Internal and External Building and Colour Consultant Online - Worldwide http://www.denovoconcepts.com Re: When will be a good time to build or buy - NOW OR WAIT? 7Apr 13, 2010 8:59 pm Building on an acre in Macedon ......one day. Re: When will be a good time to build or buy - NOW OR WAIT? 8Apr 13, 2010 9:06 pm Budde Design 3D Architecural Visualizations, Architectural Rendering, Artist Impressions, 2D & 3D floor plans http://www.buddedesign.com nathan@buddedesign.com Re: When will be a good time to build or buy - NOW OR WAIT? 10Apr 13, 2010 9:33 pm there is too much interest in the housing market for the government to let it crash. If interest rates hit high enough levels that it impacts then people will have more to worry about that just houses Re: When will be a good time to build or buy - NOW OR WAIT? 11Apr 13, 2010 10:02 pm I once heard a real estate agent say that the best time to buy property is Yesterday, the next best time to buy is today. I brought last year! Our house thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=18335 Re: When will be a good time to build or buy - NOW OR WAIT? 12Apr 14, 2010 8:17 am misty205 Hearing today that home loan applications are low makes me think the cost of houses will decrease? Should we buy or build now or will the market drop again in the near future? Any comments or suggestions are much appreciated! Thankyou. House prices are not just being pushed up by the local market but by overseas investors and cashed up local buyers who have sold their home already in this hot market and are able to pay a premium for a better property. The danger in buying now or in the near future is paying too much for a sub standard property If I was to buy now, I would carefully consider if the property had potential to 'add value' eg sub divide/renovate so it would be worth more (than what I previously had paid) in a flat market if I was forced to sell. Interest rates, I believe, will be going to 10%. Anyhoo, have a look at this thread about the Melbourne market. It will take a while to read through all the posts but worth the effort if you want to gain real insight about what is happening right now. http://www.somersoft.com/forums/showthread.php?t=60936 Mrs B Re: When will be a good time to build or buy - NOW OR WAIT? 13Apr 14, 2010 1:49 pm As a builder, i definitely can't see prices coming down for houses. Just looking ahead, we might be looking at an 11% increase in the price of steel. There's only so long a bulider can absorb costs for! But then again, asking a builder when is it a good time to build is like asking a barber when is it a good time for a haircut Re: When will be a good time to build or buy - NOW OR WAIT? 14Apr 14, 2010 4:18 pm The best time is as soon as you can! 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: When will be a good time to build or buy - NOW OR WAIT? 15Apr 14, 2010 4:18 pm If you find something you like, and you can afford it, then it's the best time for you to buy. In the long term, the trend for property prices is always upwards. Re: When will be a good time to build or buy - NOW OR WAIT? 16Apr 14, 2010 5:58 pm I agree with the advice in this thread BUY NOW if you can. We built last year and already our land has gone up by at least $35k and the house by $20k... it's insane!! Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: When will be a good time to build or buy - NOW OR WAIT? 17Apr 14, 2010 8:42 pm Thankyou EVERYONE for your valued input I really appreciate it and learnt some good information....For example that when you build I thought once you signed for a particular price that was the fixed price and it couldnt change again. Wow I was wrong. Anyway Its very clear what I should do...... Re: When will be a good time to build or buy - NOW OR WAIT? 18Apr 14, 2010 9:10 pm That was an interesting link Mrs B ....perhaps suggesting that in terms of investement, the Melbourne property market is not such a great place to buy in to at the moment. At least that's what I took from it. I also spoke with a property developer on the weekend and they aren't buying in Melbourne at the moment (because the market is too hot), but they are buying in other places - Ballarat, Bendigo and interstate (Brisbane). Confusing to know what to do, isn't it. Thanks for the link Mrs B - a long, but interesting read! Building on an acre in Macedon ......one day. Re: When will be a good time to build or buy - NOW OR WAIT? 19Apr 14, 2010 10:31 pm Misty I just wanted to clarify something when you sign up to build a house the base or fixed price of the home when you signed doesnt change if the builder decides to do a price rise but upgrade prices may if you make changes along the way. Budde Design 3D Architecural Visualizations, Architectural Rendering, Artist Impressions, 2D & 3D floor plans http://www.buddedesign.com nathan@buddedesign.com Re: When will be a good time to build or buy - NOW OR WAIT? 20Apr 15, 2010 7:10 am nathanbudde Misty I just wanted to clarify something when you sign up to build a house the base or fixed price of the home when you signed doesnt change if the builder decides to do a price rise but upgrade prices may if you make changes along the way. Not quite right.... most builders will usually have provision in the contract for price rises if your site start is delayed beyond a specified date. So if land settlement is delayed, or there's some hold up with permits, you may find that your base price increases. We knew before we paid our deposit in June that there would be a price rise in November. We signed contracts in July and expected to settle in September so our site start was set for October. But the land settlement was delayed, and it wasn't titled till November which meant that we had to wear the price rise. Luckily it was only $1,000, but I know of numerous people who've copped $7,000-$10,000 rises. 9 26412 1 13643 Sadly no movement on site since soak wells went in. There are also missing/wrong storm water drains which need to be sorted, along with a broken pipe. Plumbing has been… 14 38077 |