From: Jamieson .
Dear Forum
I would appreciate any thoughts/advice on whether it is more economical to build through a project home company or to get an individual design prepared (at a cost) and then getting competitive prices from builders. I am currently arranging for subdivision of part of our existing property. The plan is to build a new home on the new lot and move in ourselves. Our lot is fairly small and won't suit most project home designs which is why I am considering an individual design.
Our strategy is to also renovate our current house and then sell it. My original plan was to build an IP ie rent out the new property, but by selling the old one and living in the new we will be able to clear (or almost clear) our personal mortgage leaving us with the full value of the new property to use as equity for IPs. The numbers seem to stack up very well and the idea of being able to clear the personal mortgage is very appealing. Any thoughts on our strategy would be appreciated.
Regards
Jamieson
Dear Forum
I would appreciate any thoughts/advice on whether it is more economical to build through a project home company or to get an individual design prepared (at a cost) and then getting competitive prices from builders. I am currently arranging for subdivision of part of our existing property. The plan is to build a new home on the new lot and move in ourselves. Our lot is fairly small and won't suit most project home designs which is why I am considering an individual design.
Our strategy is to also renovate our current house and then sell it. My original plan was to build an IP ie rent out the new property, but by selling the old one and living in the new we will be able to clear (or almost clear) our personal mortgage leaving us with the full value of the new property to use as equity for IPs. The numbers seem to stack up very well and the idea of being able to clear the personal mortgage is very appealing. Any thoughts on our strategy would be appreciated.
Regards
Jamieson
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