Give the chaos and the competition in the space of buying house, what’s your opinion on buying land and building a house? I know the builders are also tight on supply and delays are possible but if doesn’t bother me for 1.5 year’s wait time would you recommend taking that path? This is my first time buying /building a house and am totally confused as to what to do. Like Dave mentioned. There are 1 house per 4/5 families so getting a house from market is very hard unless you pay crazy extra amount and the seller can not refuse.
If you are building in a tightly held suburb, no more than 25km from the CBD ring, absolutely. If you a new estate housing estate with lots of land for sale, I would stay away. Have a chat to Dave (Shih) about construction finance and the possibility of capitalising in your interest into the construction loan to reduce your holding costs whilst construction is under way. I'm happy to refer you to two reputable builders who typically construct slab to keys in 10 months for single story and 18 months for 2 story. Think about buying a proposed subdivision lot, this way you can negotiate to get your DA, building permit and builder selected before titles are issued, meaning you are not paying interest whist going through this process. Once you have titles you can then commence construction. This will save you the interest rate cost on the land, and hopefully will see some equity in the block.
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Give the chaos and the competition in the space of buying house, what’s your opinion on buying land and building a house? I know the builders are also tight on supply and delays are possible but if doesn’t bother me for 1.5 year’s wait time would you recommend taking that path? This is my first time buying /building a house and am totally confused as to what to do. Like Dave mentioned. There are 1 house per 4/5 families so getting a house from market is very hard unless you pay crazy extra amount and the seller can not refuse.
If you are building in a tightly held suburb, no more than 25km from the CBD ring, absolutely. If you a new estate housing estate with lots of land for sale, I would stay away.
Have a chat to Dave (Shih) about construction finance and the possibility of capitalising in your interest into the construction loan to reduce your holding costs whilst construction is under way.
I'm happy to refer you to two reputable builders who typically construct slab to keys in 10 months for single story and 18 months for 2 story.
Think about buying a proposed subdivision lot, this way you can negotiate to get your DA, building permit and builder selected before titles are issued, meaning you are not paying interest whist going through this process. Once you have titles you can then commence construction. This will save you the interest rate cost on the land, and hopefully will see some equity in the block.
Horrible place