building or buying existing?

simple_me08

Hello mga kabayan, I am from Sydney and any inputs would be much appreicated.

We are trying to buy our first home, been researching and gusto sana namin i take advantage ang FHOG and stamp duty concession. May mga new properties usually townhouse and villa around 600k, pero my option din to build with a home and land package less than 600k. Aside from paying rent and mortgage while waiting for the home to finish ano pa disadvantage ng building?

TasBurrfoot

Hello mga kabayan, I am from Sydney and any inputs would be much appreicated.

We are trying to buy our first home, been researching and gusto sana namin i take advantage ang FHOG and stamp duty concession. May mga new properties usually townhouse and villa around 600k, pero my option din to build with a home and land package less than 600k. Aside from paying rent and mortgage while waiting for the home to finish ano pa disadvantage ng building?

disadvantage for us sa new house is that we don't like the environment of the new estates; mejo masikit sya as per my wife's description. and we don't also like the look of the moder houses.

we opted for an 8 yr old near the countryside. under 600k so may concession sa stamp duties. we missed out on the FHOG of $10k here in VIC though but ayus lang as we love the home that we will be getting.

atchino

Quotes for house and land packages or building your own house provided by the builder are most of the time are just basic or they normally say "starting from".

Once you sit and discuss with the builder or once you signed you will notice that additional cost involved as you may want to make some modification or the quote was just basic.
sometimes, it does not include the drive way tiling, landscaping, fence, blinds, ligting, even height of the ceiling. cup boards, power points etc...


Be prepared to spend additional 20k to100k depending on what modification, finishing and furnishing of the property.

AJ0508

The best thing is to get out of renting someone else mortgage.just move forward.all builders are the same.theyre milking us but that the way it is.good luck!

rylynn

new house kami kasi gusto husband ko "bago" etc pero we came to point na sana build na binili namin.. i will recommend gawa na para makalipat na agad.
We have FHOG 15k from QLD pero now may mortgage kami (land) + yung renta + payments sa construction pero we are getting there..

Pero if uulitin ang pangyayari , yung gawang bahay na po..
this is our house timeline kung sana gawa na sept 2014 nakalipat na kami.
7 weeks to go from now.. end May 2015 pa kami.
Dami din kasi submit sa council etc..

9/09/2014 deposit on land & initial contact with Planbuild salesperson    
9/10/2014  Colour selection 9/10/14
19/11/2014 land settled  19/11/2014
20/11/2014 Prelim agreement signed and initial deposit paid 20/11/2014
27/11/2014 HIA contract signed 27/11/2014
5/12/2014 Paid rest of 5% deposit 5/12/2014 
15/01/2015 Final selections signed off  15/01/2015
20/01/2015 Lender Authority to Commence 20/01/2015
28/01/2015 Council Approval (including relaxation of boundary applied only Jan 16 2015)
17/02/2015 Earthworks
13/03/2015 ready for slab
14/03/2015 slab
17/03/2015 lower storey frame
20/03/2015 gutters and fascia
20/03/2015 Paid remaining for the 20% downpayment
23/03/2015 Roof
24/03/2015 Electrical /plumbing

to be continued....
solar installation
Bricks started
Enclosed stage
Cladding/eaves complete
Kitchen/bathroom cabinetry. Exterior painting. Waterproofing.
Fixing Stage Complete
Plumbing complete, air con complete, electrical fit out
Fence/gravel driveway
carpet, wardrobe doors, pantry shelves
clean & outdoor plumbing
Notice to book PCI

vhoythoy

new house kami kasi gusto husband ko "bago" etc pero we came to point na sana build na binili namin.. i will recommend gawa na para makalipat na agad.
We have FHOG 15k from QLD pero now may mortgage kami (land) + yung renta + payments sa construction pero we are getting there..

Pero if uulitin ang pangyayari , yung gawang bahay na po..
this is our house timeline kung sana gawa na sept 2014 nakalipat na kami.
7 weeks to go from now.. end May 2015 pa kami.
Dami din kasi submit sa council etc..

9/09/2014 deposit on land & initial contact with Planbuild salesperson    
9/10/2014  Colour selection 9/10/14
19/11/2014 land settled  19/11/2014
20/11/2014 Prelim agreement signed and initial deposit paid 20/11/2014
27/11/2014 HIA contract signed 27/11/2014
5/12/2014 Paid rest of 5% deposit 5/12/2014 
15/01/2015 Final selections signed off  15/01/2015
20/01/2015 Lender Authority to Commence 20/01/2015
28/01/2015 Council Approval (including relaxation of boundary applied only Jan 16 2015)
17/02/2015 Earthworks
13/03/2015 ready for slab
14/03/2015 slab
17/03/2015 lower storey frame
20/03/2015 gutters and fascia
20/03/2015 Paid remaining for the 20% downpayment
23/03/2015 Roof
24/03/2015 Electrical /plumbing

to be continued....
solar installation
Bricks started
Enclosed stage
Cladding/eaves complete
Kitchen/bathroom cabinetry. Exterior painting. Waterproofing.
Fixing Stage Complete
Plumbing complete, air con complete, electrical fit out
Fence/gravel driveway
carpet, wardrobe doors, pantry shelves
clean & outdoor plumbing
Notice to book PCI

Wow, gaano kalaki ung unit nyo? ilang bedrooms and magkano lahat nagastos?

TasBurrfoot

@rylynn - one of the trouble we foresaw with building is the stress and the time it takes to complete the structure...

lock_code2004

Some builders here in WA started building homes kahit wala pang buyers.. They will sell it pag almost ready na..
Walang waiting time. It's a new home pero ready built... I was able to move in less than 3 weeks (financing approval - final inspection) ..

My other option was to buy a display home.. Muntik nako bumili.. Kaso ung available within my budget is only 3x2.. I was looking for a 4x2 home..

TasBurrfoot

Some builders here in WA started building homes kahit wala pang buyers.. They will sell it pag almost ready na..
Walang waiting time. It's a new home pero ready built... I was able to move in less than 3 weeks (financing approval - final inspection) ..

My other option was to buy a display home.. Muntik nako bumili.. Kaso ung available within my budget is only 3x2.. I was looking for a 4x2 home..

stupid question but what is a 4x2?

4bed 2baths?

lock_code2004

@TasBurrfoot
Yes..

mixednuts

More or less magkano cash out? In general lang naman let's say 450K ~ 600K new house.
DP..
FOG..
Etc..
Total?

lock_code2004

@mixednuts minimum would be approx 5-10% of the total house cost..

mixednuts

@mixednuts minimum would be approx 5-10% of the total house cost..

noted sir. salamat.

cholle

I'm in the property industry, and my clients are saying it's better to buy existing units if for investment lang. Kung titirhan niyo pwede rin new or existing - depende sa location. Galing yan sa mga clients kong tigatlo o higit pa ang properties in Sydney hehe