PPOR Build Perth - Kit home builder or custom builder
- Thread starter justlearning
- Start date
Well we've picked a builder - Dales. We're at the stage of negotiating on the list of inclusions.
We've gotten a bit personal about it all, so we're spending a lot more than we originally planned, but probably about right for the area.
Build, including site works is looking like it will come in just over 400k. Major additional costs over base price (270k) are bifolds, workshop, bigger living, bigger alfresco, overhead kitchen cabinets, stone benches, higher ceilings, split level (to accommodate slightly sloping block).
I'm going to love the house, but it very well might max us out and stall our investing for a while. I'm still on the hunt for a good local mortgage broker.
We've also decided to look for a rental asap so we can sign a 12 month lease. Figured we could rent our current place out fully furnished on short leases (or holiday accommodation) until the build is ready to go.
We've got our second bub on the way (due early Dec) and I suspect moving sooner rather than later will be easier. And I'm not sure how easier it will be to find a rental close buy with two big dogs! Ahhh, I'm not looking forward to being a tenant again!
We've gotten a bit personal about it all, so we're spending a lot more than we originally planned, but probably about right for the area.
Build, including site works is looking like it will come in just over 400k. Major additional costs over base price (270k) are bifolds, workshop, bigger living, bigger alfresco, overhead kitchen cabinets, stone benches, higher ceilings, split level (to accommodate slightly sloping block).
I'm going to love the house, but it very well might max us out and stall our investing for a while. I'm still on the hunt for a good local mortgage broker.
We've also decided to look for a rental asap so we can sign a 12 month lease. Figured we could rent our current place out fully furnished on short leases (or holiday accommodation) until the build is ready to go.
We've got our second bub on the way (due early Dec) and I suspect moving sooner rather than later will be easier. And I'm not sure how easier it will be to find a rental close buy with two big dogs! Ahhh, I'm not looking forward to being a tenant again!
Congrats!
Its very easy to blow the budget with a PPOR but you it's forgiven as you have to live there every day. Kensington is a great suburb and I think $400k for a single storey house is fine.
Depending on how long council etc takes you might need longer than 12mths. You need building license, demolition license, baiting of the property prior to demo, actual demo, then build.
But yes moving before you get too big and be settled before bubs comes is a good idea.
Also consider renting it out by the room if that will make good money - then just kick everyone out when you need to.
Its very easy to blow the budget with a PPOR but you it's forgiven as you have to live there every day. Kensington is a great suburb and I think $400k for a single storey house is fine.
Depending on how long council etc takes you might need longer than 12mths. You need building license, demolition license, baiting of the property prior to demo, actual demo, then build.
But yes moving before you get too big and be settled before bubs comes is a good idea.
Also consider renting it out by the room if that will make good money - then just kick everyone out when you need to.
don't think renting by the room will help....we currently only have one bedroom. the kids bedroom is currently shared with the laundry! thus the need for a new home!
Talk to a few established real estate agents that have been working in the area. They will tell you what potential purchasers are looking for. Find the common denominators in regards to spec and finish and work towards that within your budget. Get a broker to run the numbers in regards to serviceability so you can establish a maximum spend without impinging on your future IP purchases.
