Ton21 Posted January 6, 2017 Share Posted January 6, 2017 Be a while before the big move and i know markets can vary dramatically over time but I just wanted to put feelers out there to see what people that have made the move decided I know il have to rent a property in aus for a time but then i'd like to purchase a property, the only thing is i can't seem to see a property i like the look of at the moment, so is it better to get some land and build what i want? Quote Link to comment Share on other sites More sharing options...
NicF Posted January 6, 2017 Share Posted January 6, 2017 All depends on what you want and if you can find some land in a spot you like. We bought land. We had been doing the same - looking at houses from the UK and not really seeing much. Then when we moved my OH found a block of land in a lovely spot in the suburb we wanted to settle in so we bought that and built a house. We got the land for a good price but spent a fair bit on the house with changing things around and putting in extra things like UPVc double glazing, extra electric sockets, gas points etc. We also spent a lot on the landscaping but we have got the house we wanted. I wouldn't rush in to anything. Wait until you get here and have a look round and decide on a suburb first. Then you will get a feel for what the housing is like there and how much, if any, redevelopment is happening and what kind of new properties are being built. When we bought our land new houses were only going up sporadically but over the last year or two old the amount of building seems to have increased pretty dramatically. Every other house that goes up for sale seems to get knocked down and two built in it's place. Quote Link to comment Share on other sites More sharing options...
newjez Posted January 6, 2017 Share Posted January 6, 2017 Be a while before the big move and i know markets can vary dramatically over time but I just wanted to put feelers out there to see what people that have made the move decided I know il have to rent a property in aus for a time but then i'd like to purchase a property, the only thing is i can't seem to see a property i like the look of at the moment, so is it better to get some land and build what i want? some states like WA will give you money to build new, £15000 I think. But it really depends on where you want to live. You tend to get building in the newer suburbs on the outskirts of the cities. You can get inner city blocks, just not as many around. Be aware that there will always be extras on top of the cost they quote for the house. Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted January 7, 2017 Share Posted January 7, 2017 Be a while before the big move and i know markets can vary dramatically over time but I just wanted to put feelers out there to see what people that have made the move decided I know il have to rent a property in aus for a time but then i'd like to purchase a property, the only thing is i can't seem to see a property i like the look of at the moment, so is it better to get some land and build what i want? You have to look at the pros and cons. We bought an existing house that was about 7 years old. Our reasoning was that we really did not know enough about what we wanted until we saw the house that we bought. Buying a plot will normally mean that you are living on a non-established housing estate often with construction work in progress for many months after you move in. We like the fact that everyone in our street owns their home too so a more stable community without tenants coming and going with sometimes regrettable consequences. The high cost of land means that you ultimately pay a premium I think. We understand that the owners of our house didn't fully recuperate their 2008 costs on the sale. But if you know what house you want and have specific requirements, can afford the plot in the ideal location, and plan to live in the house for a long time then new build makes sense. Quote Link to comment Share on other sites More sharing options...
Ken Posted January 7, 2017 Share Posted January 7, 2017 We built, but it's such a long drawn out tortuous process (we bought the land - already titled as waiting for that can take even longer - in February 2015 but weren't able to move in until December 2016) that if doing it again we'd buy a house that was already built and hire a builder to modify it as necessary. Quote Link to comment Share on other sites More sharing options...
Sammy1 Posted January 7, 2017 Share Posted January 7, 2017 I built. Whilst it has been fun landscaping the back and front gardens and really making it my own, I wouldn't build again. There are so many hidden costs and there are some dodgy builders out there. It's cheaper to build, but the blocks tend to be smaller and as said before, you have to get used to being in a construction site for a few months or so. Quote Link to comment Share on other sites More sharing options...
Que Sera Sera Posted January 7, 2017 Share Posted January 7, 2017 We built and found it a very positive experience , we would and probably will build again as our needs and wants change. We have made a nice little profit which had we bought outright wouldn't have happened. We never made any changes to the original plans, no upgrades and didn't find any hidden costs. Quote Link to comment Share on other sites More sharing options...
newjez Posted January 7, 2017 Share Posted January 7, 2017 We built and found it a very positive experience , we would and probably will build again as our needs and wants change. We have made a nice little profit which had we bought outright wouldn't have happened. We never made any changes to the original plans, no upgrades and didn't find any hidden costs.in Perth? When did you buy? Quote Link to comment Share on other sites More sharing options...
Que Sera Sera Posted January 7, 2017 Share Posted January 7, 2017 We finished our build in Feb 2012. Quote Link to comment Share on other sites More sharing options...
newjez Posted January 7, 2017 Share Posted January 7, 2017 We finished our build in Feb 2012. it's just that most property in Perth is losing value. It's not hard to find a newish property in Perth below cost. I guess you must have picked well. Quote Link to comment Share on other sites More sharing options...
Que Sera Sera Posted January 7, 2017 Share Posted January 7, 2017 it's just that most property in Perth is losing value. It's not hard to find a newish property in Perth below cost. I guess you must have picked well. According to realestate.com ( we've not had an official valuation as we're not selling ) our house is worth 30% more than building/land costs. Our suburb rose last year but only by 1.5 percent, but growth non the less. Quote Link to comment Share on other sites More sharing options...
Parley Posted January 7, 2017 Share Posted January 7, 2017 I think having to do the front and back gardens from scratch would be tough. You seem to jest get a house in the middle of a block with a new build and have to do a lot of work on the surrounds. I haven't done a build but am not sure I could be bothered with all the hassle. It should be possible to buy a house that suits you that is fairly new and avoid all the building issues. Quote Link to comment Share on other sites More sharing options...
Que Sera Sera Posted January 7, 2017 Share Posted January 7, 2017 A lot of house and land packages come with landscaping included. You just need to shop around. Quote Link to comment Share on other sites More sharing options...
Wa7 Posted January 7, 2017 Share Posted January 7, 2017 According to realestate.com ( we've not had an official valuation as we're not selling ) our house is worth 30% more than building/land costs. Our suburb rose last year but only by 1.5 percent, but growth non the less. I would take realestate.com with a pinch of salt. It generally gives a huge range between bottom and top value and obviously we would all latch onto the top value. The " estimated value" for our place has a $140k diff between top and bottom range. I know my area etc and it's about $60k over what it's actually worth in my opinion, but I would happily take the top valuation if anyone offered it. Quote Link to comment Share on other sites More sharing options...
Que Sera Sera Posted January 7, 2017 Share Posted January 7, 2017 I would take realestate.com with a pinch of salt. It generally gives a huge range between bottom and top value and obviously we would all latch onto the top value. The " estimated value" for our place has a $140k diff between top and bottom range. I know my area etc and it's about $60k over what it's actually worth in my opinion, but I would happily take the top valuation if anyone offered it. I agree with you reference realestate its there obviously to get sales, but I'm also going by what similar houses on our street have recently sold for. Quote Link to comment Share on other sites More sharing options...
Wa7 Posted January 7, 2017 Share Posted January 7, 2017 No worries, you only referenced realestate.com as giving you the 30% more figure. Agree that local / similar house prices will give you a more accurate figure. Quote Link to comment Share on other sites More sharing options...
Parley Posted January 7, 2017 Share Posted January 7, 2017 I think Realestate.com.au uses Median House Prices over the last 12 months for their calculations. So it won't be as accurate as looking at recent auction sales. I know for my suburb it says a median price, but you actually can't buy a house for that figure any more. Because it is a median over 12 months, I think the price they quote is really what houses were selling for 6 months ago. If the market is rapidly growing or falling, the median price may be misleading. Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted January 7, 2017 Share Posted January 7, 2017 We built and found the process very good and very enjoyable and the best part if you get the house you really want, all the way from the overall design down to what door handles you want. The only thing to remember is that the initial price you see advertised by the builders will not be the final price. There will be "up grades" needed. These vary by state, but for example, in WA all the builders quote a price which includes 1 single electrical socket per room. To get a sensible amount put in, you pay and the up grades are not known fully until after the contract is signed. But there are some excellent threads on the process on here and Perth Poms. 1 Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 7, 2017 Share Posted January 7, 2017 Hi @Ton21 we were going to build but when we moved in to our second rental that was a new build and we were the first to live in it and it was very poorly built and then the neighbours were having problems with their builders and the quality. It was hard as we loved the new builds. In the end we went and purchased an ex display house that included all the furniture. The ex display was built to last and had the best of the best in so we were lucky. Like mentioned earlier in the thread the price they give you is nothing like the display quality they show you. Quote Link to comment Share on other sites More sharing options...
newjez Posted January 7, 2017 Share Posted January 7, 2017 I agree with you reference realestate its there obviously to get sales, but I'm also going by what similar houses on our street have recently sold for.that is great, and you have done very well, but I would caution that anyone else trying to repeat that feat in this current market in Perth may struggle to do so. But well done. Quote Link to comment Share on other sites More sharing options...
Lurkio Posted February 22, 2017 Share Posted February 22, 2017 Just repeating what others have said. Don't rush into anything. Take your time and be certain that you even want to stay. The standard of building here is unlikely to be what you are used to. The construction appears to me to be shoddy - think Barrett Homes! Having said that, it is fun to plan your dream house. Just be prepared for the budget to skyrocket. And really ... One plug socket per room is standard. Quote Link to comment Share on other sites More sharing options...
northshorepom Posted February 22, 2017 Share Posted February 22, 2017 If the market is rapidly growing or falling, the median price may be misleading. It's usually misleading anyway because the sample size is too small Plenty of suburbs where only 20 or so houses are sold each year. Unless those 20 are normalised in line with the total housing stock in that suburb - which isn't done in the median figures, they're just raw - then it can be completely skewed by how big or well kept or otherwise desirable the houses that have actually sold are. In a year where out of that 20, 10 are 5 bed lovely places on 1000sqm, median prices are going to be wildly different from one where 10 of them were knackered 3 bed fibro shacks that are knock down rebuilds. Median prices gives you a very rough guide as to whether or not prices are rising or falling, and a very rough guide as to which suburbs are cheaper/more expensive, like for like. But that's about it Quote Link to comment Share on other sites More sharing options...
RandL Posted February 22, 2017 Share Posted February 22, 2017 One thing also to remember is if you build you only pay stamp duty on the land and not on the land/house value if you would buy established Quote Link to comment Share on other sites More sharing options...
rammygirl Posted February 22, 2017 Share Posted February 22, 2017 We built in SA. Worth it as we could specify extra insulation and double glazing and tweak the design to suit us. The basic build regulations were frankly not adequate for the climate. Quote Link to comment Share on other sites More sharing options...
northshorepom Posted February 22, 2017 Share Posted February 22, 2017 My wife would love to build I would also love to build, IF money was no object (or if I had enough to have about 30% contingency hidden from her) I would hate to build if it meant significant financial stress. Been there, done that, ain't going back Quote Link to comment Share on other sites More sharing options...
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