Re: Knockdown & Rebuild vs Renovation22
Jan 15, 2019 7:17 pm
Sure thing. Thanks for your feedback. One company did give a rough starting point of about $700k. But the other two said about $800k-900k would probably be more 'reasonable'.
Ideally, the house should have 6 bedrooms and 3-5 wet areas (bathrooms/ensuites/shower/powder room). That's the aim anyway.
Will keep you all posted.
Re: Knockdown & Rebuild vs Renovation23
Jan 16, 2019 12:23 am
I agree $800k - $900k seems expensive for a 40/45 sq home.
Whilst I'm sure it can be easy to spend that much, if you want to upgrade everything to luxury standards, or wish to choose a completely bespoke and custom build. But if you go with a volume builder, a 40/45 sq home would probably have a base price of around $400k. Add on 50% for upgrades and another $20k for your knockdown, electricity pit and other odds and sods, and you'll still get a decent house for $200k less than what you've been quoted.
Do the volume builders not have any designs that you like? Or does your wedge shaped block need a fully custom build?
Re: Knockdown & Rebuild vs Renovation24
Jan 16, 2019 7:36 am
You're right in that that quotes aren't from volume builders. The quotes (or at this stage estimates) are from custom home builders.
From what we've seen of volume builders that we are aware of:
Rightly or wrongly, we think a custom build will better maximise our block. But if there's an opportunity to save 200k and get what we want, I'm all for it. So if there's any recommendation of volume builders that I should check out, do let me know.
Thanks again in advance.
Re: Knockdown & Rebuild vs Renovation25
Jan 16, 2019 11:51 am
I went to englehart display, their starting price is 1.2 mill and most of their clients are Chinese. Has any one build with them? Their home is beautiful, but too expensive for me.
Be careful if u go for small custom builder, I heard some of them take your money then later declare bankrupt. Volume builder is safe, at least u definitely will get a hose at the end, but they are not flexible with their floor plan.
How much do you want to spend on the building cost? Don't forget the landscape cost.
Re: Knockdown & Rebuild vs Renovation26
Jan 16, 2019 11:56 am
BTW, what is the value of your land? If you spend 800-900k on building, add on to the land value, would it be over value? Assuming the land value is 800k, and you spend 800k on building a house, do u think the house would worth 1.6mill?
Re: Knockdown & Rebuild vs Renovation27
Jan 16, 2019 12:00 pm
Have u try highview home? Their houses are beautiful, they do custom home and they are not volume builder, from what I can remember , the guy told me to build a double story house starting price is 400,000, but that figure is few yrs ago.
Re: Knockdown & Rebuild vs Renovation28
Jan 16, 2019 3:12 pm
I've come across Englehart in my initial searches but not Highview home. With regards to Highview home, as lovely as it is, it doesn't suit us. What I mean is that we prefer a more modern/contemporary looking house. We like to look at the Victorian / Hampton style homes but not live in one. I did see they have a petite version .
Another thing that we want to try and do is not to stand out as much as possible. Our current estate hosts the modern townhouse brick-render look. Say if we opt for Highview, we would immediately be a standout - due to such a stark contrast.
So that narrows the companies we communicate with.
Regarding overcapitalisation, that's a great point. I need to look up our rates to see the land value. But that aside, in our conversations we are pretty convinced that if we do KDR on this site, we will leave it only when carted out in a box. Sure things change, and life doesn't always go the way we expect.
That being the case, we are trying to ensure that whatever we are building, will be an easy sell as well. Work in progress definitely but it's a timely reminder from you about it. So appreciate it.
If you (others) have any builders that you've considered do continue to share it. Thank you.
Re: Knockdown & Rebuild vs Renovation30
Jan 16, 2019 8:31 pm
So r u going to build on a stump or concrete slab? Most builder just use concrete slab now. I prefer stump, the reason is if you want to renovate or changing layout or fixing wiring/ plumbing, would be easier and lot cheaper. I wish mind were on a stump.
Re: Knockdown & Rebuild vs Renovation31
Jan 16, 2019 9:03 pm
Based on my understanding, I’ll be opting for a concrete slab.
I’ve got highly reactive soil and lots of gumtrees on the perimeter. A large portion of the issues I’m facing with the current house is due to this fact. Potentially when it was built, they didn’t go deep enough, tree barriers might have been minimal Etc. All speculation but there’s something not right with the place
Re: Knockdown & Rebuild vs Renovation32
Jan 18, 2019 2:52 am
I'm building with a custom builder (Como Homes) myself in VIC. All of the custom builders (except Latitude 37) quoted me in the region of $15-16k per square, all up. Which is why I think your quotes of $800-900k seem a bit excessive.
Have a read of my brief reviews of the 4 custom builders and the 1 volume builder I had approached: viewtopic.php?p=1828658#p1828658, and maybe one of them will suit you too.
Re: Knockdown & Rebuild vs Renovation33
Jan 18, 2019 7:45 am
Thanks for that. Helps heaps.
How does the $ per square work with wet areas? Does the same $ still apply? Apologies in advance if that's a stupid question. But I rather look stupid now than after signing a contract :p.
I always of the understanding that wet areas are the more expensive 'rooms' in the house.
Re: Knockdown & Rebuild vs Renovation34
Jan 19, 2019 2:11 am
The $ per square is a way to estimate and compare cost of the overall build, and averages out all the areas in the house.
Obviously the wet areas and the kitchen will cost a lot more $ per square than say the living area or hallway, with the garage costing the least.
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