What would you do?
- Thread starter atti
- Start date
Buy some property and rent it out 
Buy a big block, build a duplex and live in one half maybe?
anyone would recommend a builder, in adelaide ?
how cheap can a house be built, without landscaping, pavers, all the extra stuff
i've got about 400 sqm in my backyard, still plans to keep the house at front, building something cheap as posible without subdividing. block is 16.3 meters x 43.5
how cheap can a house be built, without landscaping, pavers, all the extra stuff
i've got about 400 sqm in my backyard, still plans to keep the house at front, building something cheap as posible without subdividing. block is 16.3 meters x 43.5
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Id look for the best way to increase my wealth.
yeah abit confused, but i reckon building a nice house to live as PPOR in back of my block is the way to go, and keep other one at the beach as investment.
+ also get rental from old house at the front, while living in brand new house at the back. it'll be 6 months process but shouldnt be too hard. reasonablely affordiable as mum and i living on cheap rent atm.
+ also get rental from old house at the front, while living in brand new house at the back. it'll be 6 months process but shouldnt be too hard. reasonablely affordiable as mum and i living on cheap rent atm.
Sunday Mail has lots of houses in it in the new houses liftout (which we've been perusing a lot because we want to build), they seem to start around $90k but you don't get much for that, its bare bones basic. Your block is as big as the one we're going to create lol - our block is 29x45, going to slice a 15x45 chunk off the side for a new build. We've got a brochure here from Weeks Peacock, seem decent quality and all but the prices range from $120-290k and that's before footings allowances etc. You look at enough project builder's websites and you start seeing the same floorplans over and over.
We're country so we're going with Rivergum Homes. The design we're planning to use as a base is $75k, by the time we plump it up with all the stuff we actually want it'll probably end up at $110k, if not more. I have no idea how city councils go with Rivergum (they are an Adelaide building company) for houses in backyards. They look very good if you don't get the bottom of the line facade and they have decent inclusions but they're weatherboard.
We're country so we're going with Rivergum Homes. The design we're planning to use as a base is $75k, by the time we plump it up with all the stuff we actually want it'll probably end up at $110k, if not more. I have no idea how city councils go with Rivergum (they are an Adelaide building company) for houses in backyards. They look very good if you don't get the bottom of the line facade and they have decent inclusions but they're weatherboard.
seems like building a house is abit of a hassle, after reading so many feedbacks everyone has problems with their builders.
even good quality ones have excellent display homes but the end product after they taken your cash, seems to be major delay in projects, staff turn overs , your stuff getting damaged from careless and quality definately not same as promise negative feedbacks hardly got a thumbs up majority 99 % of builders lol ?
even good quality ones have excellent display homes but the end product after they taken your cash, seems to be major delay in projects, staff turn overs , your stuff getting damaged from careless and quality definately not same as promise negative feedbacks hardly got a thumbs up majority 99 % of builders lol ?
It used to be cheaper to buy a block and build on it (thus giving you instant equity) than buying an existing reasonably new similar product.
However there are many new houses that people have built over the last couple of years which are now on the market as distressed sales as they can no longer afford to keep them. My sale in Shoalwater is a good example as I let it go for $387,000 when to buy land on the same estate now would cost around $200,000 and to build a similar house would cost around $220,000. My costs to buy the land and build were around $330,000 all up from memory with a bank valuation on completion of $500,000 so at the time it was a great way to go!
However this will also depend on the location so you should research your chosen area thoroughly before you make a decision on which way to go.
Good Luck!
However there are many new houses that people have built over the last couple of years which are now on the market as distressed sales as they can no longer afford to keep them. My sale in Shoalwater is a good example as I let it go for $387,000 when to buy land on the same estate now would cost around $200,000 and to build a similar house would cost around $220,000. My costs to buy the land and build were around $330,000 all up from memory with a bank valuation on completion of $500,000 so at the time it was a great way to go!
However this will also depend on the location so you should research your chosen area thoroughly before you make a decision on which way to go.
Good Luck!
Yes, very location dependant. Round here there are a lot of the same design house from the same builder so its easy to compare - the house costs $110k, land costs $50k. Pre-built house+land sells for about $250k, sometimes more. Would you build or buy new in this case?
i am juggling to find best way to built our wealth but mum perfers one brand new one built already to live in and rent other one out, its hard to find brand new house + Swimming pool as well (for my lil sister she is like 8), bad thing about brand new pre-built houses is theres no land, backyard etc which is anoying but i spend most of my time inside or out in patio but poor lil sister
thinking about getting 2 loans as we have good cheap rent atm at a flat and we spend like 50$ on rice + chicken wings for food a week even on low income we still save.
she has 275k cash.
loan 1 mum - brand new house(25k FHOG) put in about half money(140k ish) so we have 60-65 % LVR.
loan 2 mum + me (other half 60-70 LVR) for 7 belfast we definately getting that one for investment, renting potential 270-300 p/w (basically covers minimum monthly repayments).
loan 3 (existing) under my name 10 owen street woodville north got 70k left on 90k loan on my property here which worth 270-300k currently renting 250 p/w.
thats what i am thinking.... building one behind my existing block i dont think is good idea considering built time + so much headache of going through builder (potentially lowering rental cause 2 house on same block....
i wont be planning to move out with a gf or getting married or etc anytime soon only 25, if i do the girl will have to come live with us hehe. so theres goes the independent thing that aussies kids do. but at the end of the day i am family orientated and of multicultural background so i dont mind living with mum rest of my life, makes more sense financially, family etc considering we came here 15 years ago empty handed
thinking about getting 2 loans as we have good cheap rent atm at a flat and we spend like 50$ on rice + chicken wings for food a week even on low income we still save.
she has 275k cash.
loan 1 mum - brand new house(25k FHOG) put in about half money(140k ish) so we have 60-65 % LVR.
loan 2 mum + me (other half 60-70 LVR) for 7 belfast we definately getting that one for investment, renting potential 270-300 p/w (basically covers minimum monthly repayments).
loan 3 (existing) under my name 10 owen street woodville north got 70k left on 90k loan on my property here which worth 270-300k currently renting 250 p/w.
thats what i am thinking.... building one behind my existing block i dont think is good idea considering built time + so much headache of going through builder (potentially lowering rental cause 2 house on same block....
i wont be planning to move out with a gf or getting married or etc anytime soon only 25, if i do the girl will have to come live with us hehe. so theres goes the independent thing that aussies kids do. but at the end of the day i am family orientated and of multicultural background so i dont mind living with mum rest of my life, makes more sense financially, family etc considering we came here 15 years ago empty handed
I thought that you advised your mum to put the divorce settlement into an IP atti? I think you wrote that you put an offer through?
Did that not work out?
Did that not work out?
