building or buying existing?

Comments

• TasBurrfoot Osaka
  Posts: 4,336Member
  Joined: Feb 24, 2011

  August 2014

  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.

  Primary Applicant: Wife
  Accountant (General): 221111

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• atchino Sydney
  Posts: 312Member
  Joined: Jan 09, 2011

  August 2014

  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.
  
  

  To all Kuripotz.. please visit my blog.
  May kasabihan tayo: Kuripot man at magaling... yayaman din....

  http://kuripotism.blogspot.com.au
• AJ0508 Melbourne
  Posts: 43Member
  Joined: Jan 08, 2014

  August 2014

  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 Sydney
  Posts: 161Member
  Joined: Aug 26, 2012

  March 2015

  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
  

  unnamed.jpg 73.9K

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• vhoythoy Melbourne
  Posts: 1,550Member, Moderator
  Joined: Oct 31, 2012

  March 2015

  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?

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• TasBurrfoot Osaka
  Posts: 4,336Member
  Joined: Feb 24, 2011

  March 2015

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

  Primary Applicant: Wife
  Accountant (General): 221111

  04 Aug 2012 - IELTS (Academic Module)
  07 Aug 2012 - IELTS (Academic Module) Speaking Part
  17 Aug 2012 - IELTS Results (L: 8.5 R: 8.5 W: 7.0 S: 7.5 OBS: 8.0)
  24 Aug 2012 - CPAA Submitted (docs mailed same day via SG EMS)
  25 Sep 2012 - Received +Skills Assessment from CPAA
  25 Sep 2012 - Lodged EOI Application with 70pts
  30 Sep 2012 - Invited by DIAC to apply for 189 Visa
  01 Oct 2012 - Submitted 189 Visa Application
  20 Oct 2012 - Medical Examinations
  23 Oct 2012 - CO Assigned; Team 7 - SA
  05 Nov 2012 - Submitted SG PCC and NBI Clearance
  06 Nov 2012 - Visa Granted (IED: 23/10/2013)
  03 Apr 2013 - Flight to MEL
  03 Jun 2013 - started work
  12 Jun 2013 - wife started work
  15 Jun 2016 - applied for citizenship
  29 Jul 2016 - citizenship examination
  20 Oct 2016 - Aussie, Aussie, Aussie Oi Oi Oi!!
• lock_code2004 Perth
  Posts: 5,037Member, De-activated
  Joined: Feb 23, 2012

  April 2015 edited April 2015

  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..

  Sep 24, 2011 - IELTS (L-8 R-8 W-8 S-7.5 : OBS-8)
  Jan 04, 2012 - EA application submitted | Feb 23, 2012 - EA assessment result (IE ANZSCO 233511)
  May 8, 2012 - Lodged GSM 175 online application | June 4, 2012 - CO Allocated
  June 22, 2012 - Medicals Finalized | Aug 30, 2012 - PCCs Completed (PH, UAE, USA)
  Sep 3, 2012 - Visa Granted (IED Jun 11, 2013) Thank You Lord!
  Oct 16-28, 2012 - Initial Entry Completed - Sydney
  July 28, 2013 - Final move to Perth
  Sep 9, 2013 - Started work with the same company i worked for in UAE/USA
  Oct 28, 2013 - Moved to another company..
• TasBurrfoot Osaka
  Posts: 4,336Member
  Joined: Feb 24, 2011

  April 2015

  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?

  Primary Applicant: Wife
  Accountant (General): 221111

  04 Aug 2012 - IELTS (Academic Module)
  07 Aug 2012 - IELTS (Academic Module) Speaking Part
  17 Aug 2012 - IELTS Results (L: 8.5 R: 8.5 W: 7.0 S: 7.5 OBS: 8.0)
  24 Aug 2012 - CPAA Submitted (docs mailed same day via SG EMS)
  25 Sep 2012 - Received +Skills Assessment from CPAA
  25 Sep 2012 - Lodged EOI Application with 70pts
  30 Sep 2012 - Invited by DIAC to apply for 189 Visa
  01 Oct 2012 - Submitted 189 Visa Application
  20 Oct 2012 - Medical Examinations
  23 Oct 2012 - CO Assigned; Team 7 - SA
  05 Nov 2012 - Submitted SG PCC and NBI Clearance
  06 Nov 2012 - Visa Granted (IED: 23/10/2013)
  03 Apr 2013 - Flight to MEL
  03 Jun 2013 - started work
  12 Jun 2013 - wife started work
  15 Jun 2016 - applied for citizenship
  29 Jul 2016 - citizenship examination
  20 Oct 2016 - Aussie, Aussie, Aussie Oi Oi Oi!!
• lock_code2004 Perth
  Posts: 5,037Member, De-activated
  Joined: Feb 23, 2012

  April 2015

  @TasBurrfoot
  Yes..

  Sep 24, 2011 - IELTS (L-8 R-8 W-8 S-7.5 : OBS-8)
  Jan 04, 2012 - EA application submitted | Feb 23, 2012 - EA assessment result (IE ANZSCO 233511)
  May 8, 2012 - Lodged GSM 175 online application | June 4, 2012 - CO Allocated
  June 22, 2012 - Medicals Finalized | Aug 30, 2012 - PCCs Completed (PH, UAE, USA)
  Sep 3, 2012 - Visa Granted (IED Jun 11, 2013) Thank You Lord!
  Oct 16-28, 2012 - Initial Entry Completed - Sydney
  July 28, 2013 - Final move to Perth
  Sep 9, 2013 - Started work with the same company i worked for in UAE/USA
  Oct 28, 2013 - Moved to another company..
• mixednuts Adelaide
  Posts: 31Member
  Joined: Mar 14, 2015

  April 2015

  More or less magkano cash out? In general lang naman let's say 450K ~ 600K new house.
  DP..
  FOG..
  Etc..
  Total?
  
  
• lock_code2004 Perth
  Posts: 5,037Member, De-activated
  Joined: Feb 23, 2012

  April 2015

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

  Sep 24, 2011 - IELTS (L-8 R-8 W-8 S-7.5 : OBS-8)
  Jan 04, 2012 - EA application submitted | Feb 23, 2012 - EA assessment result (IE ANZSCO 233511)
  May 8, 2012 - Lodged GSM 175 online application | June 4, 2012 - CO Allocated
  June 22, 2012 - Medicals Finalized | Aug 30, 2012 - PCCs Completed (PH, UAE, USA)
  Sep 3, 2012 - Visa Granted (IED Jun 11, 2013) Thank You Lord!
  Oct 16-28, 2012 - Initial Entry Completed - Sydney
  July 28, 2013 - Final move to Perth
  Sep 9, 2013 - Started work with the same company i worked for in UAE/USA
  Oct 28, 2013 - Moved to another company..
• mixednuts Adelaide
  Posts: 31Member
  Joined: Mar 14, 2015

  April 2015

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

  noted sir. salamat.
  
  
• cholle Sydney
  Posts: 403Member
  Joined: Nov 21, 2013

  June 2015

  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

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