Quote:
Originally Posted by naddis01
Be prepared to be Bent over at the moment on building costs. We are going through this at the moment. We bought a block last year and in the time it took to get plans drawn up etc the cost to build has gone up 6 figures.
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Yes, as i mentioned in another thread the price difference between what my Son paid 18 months ago and what my Daughter is paying for an identical build now is 40k.
We wouldnt be looking to build until 2nd qtr of 2023 so that may see material costs normalise a little, i guess the advantage to buying land first and sitting on it is a smaller mortgage to begin with meaning more money on principal, less on intrest, building equity, and time to study the market.
Spoke briefly to the land agent my Daughter is dealing with about it and he confirmed what i thought, the days of builders buying swathes of land they develop and build on are over, the 'house and land' line is just a sales pitch and not the reality.
Using Homestarts calculator we'd be looking at around 14k deposit on a block worth 140k whereas for house and land together it would be around 40k on a 370k build.
I also like the idea of taking our time to own the land first, plan how the finished product will look, maintain the block, perhaps put up a shed and wait for the majority of other builds to be complete to let the dust settle, literally.
Im in Murray Bridge every day with work so keeping an eye on it and doing bits and pieces on my lunch break is no issue.
Having considered our plans with regards to living up there and maintaining our employment in the city initially and our start and finish times allow us to travel back and forth together keeping costs down until we land permanant jobs up that way, our Daughter will even get to stay in her current school.
Will add the best part of an hour to my before and after travel times but the majority is open freeway and i do it everyday for work now so the distance is nothing to me with an eye to it only being temporary anyway.
I have lots of contacts in the region due to my current job so shouldnt be too hard to get in somewhere.