Hi all,
Just after some advice from those on here in the know.
Looks as though we have just sold one of our properties. We will walk away now with a $100k deposit for our new PPOR. We are looking at either summerland point or Gwandalan. Both suburbs are on NSW lake macquarie. There is a new subdivision in each that we like.
Im just not sure wether to build or buy existing property. Basically to buy a place in the new estate like what we would build will have a purchase price of $370k-$380k. plus stamp duty etc. These are homes 2-6yrs old basically.
OR we build. Something my wife and I have always said is a "to do before we die" We can get the land we want for $150k then the houses we like start from $145k, this price is complete with floor coverings, kitchen appliances 2 coates paint etc. Obviously we will want a few upgrades such as bench tops, different facade etc etc plus there is then driveways, a/c, stamp duty etc etc.
I think both options will come out with a similar end figure. Would you agree???
Also if we build do we only pay stamp duty on the land value or ????
Anyhow appreciate any advice and constructive input.
Cheers Jas!
Just after some advice from those on here in the know.
Looks as though we have just sold one of our properties. We will walk away now with a $100k deposit for our new PPOR. We are looking at either summerland point or Gwandalan. Both suburbs are on NSW lake macquarie. There is a new subdivision in each that we like.
Im just not sure wether to build or buy existing property. Basically to buy a place in the new estate like what we would build will have a purchase price of $370k-$380k. plus stamp duty etc. These are homes 2-6yrs old basically.
OR we build. Something my wife and I have always said is a "to do before we die" We can get the land we want for $150k then the houses we like start from $145k, this price is complete with floor coverings, kitchen appliances 2 coates paint etc. Obviously we will want a few upgrades such as bench tops, different facade etc etc plus there is then driveways, a/c, stamp duty etc etc.
I think both options will come out with a similar end figure. Would you agree???
Also if we build do we only pay stamp duty on the land value or ????
Anyhow appreciate any advice and constructive input.
Cheers Jas!