Building a home in Australia?

Question

1) Are there any significant advantages in buying a plot of land and then building your own house in Australia as opposed to buying an existing one through a real estate agent?

2) How is a townhouse different from a regular house and what are the advantages.

Thanks

Answer 1

1) You get a new house set out and decorated the way you want it. Everything is done and you won't "discover" later on that the whole house needs to be re-plumbed or something.

However unless you get the land at a bargain rate it can be more expenisve to build and due to the state of the building industry it can take a long time to build the house, which means either paying 2 morgages or rent and a morgage.

2) A townhouse is basically a unit that shares a wall (sometimes both sides) with another residence in the same building/complex. The complex of units is a single building divided into individual dwelling. No one lives above a townhouse. They usually have their own courtyard and private entrance. Although part of a larger building the land that the individual dwelling is on can be greentitled.

A house however is a single dwelling on a single piece of land without walls on the boundary line (with the possible exception of garage wall which has been fireproofed). Houses hold their value better and go up in value at a larger rate. Also if you have a big block you can possibly subdivide and make some money off that while still owning a residence.

Answer 2

we looked into both and decided to buy a existing and renovate, lot less taxes, hassles, plus building a house can take months longer than usual with the building boom, a town house is like a unit, a house is not joined to another property

Answer 3

I built a new home a few years ago.It was worth it and cheaper,even to pull down an old house to do it.The market was on the rise so it was worth the effort.

At the moment in most places the market is falling ,interest rates are on the rise and people are bailing out and selling for a lose.

so into days market I would buy something already established.

There are many hidden cost to build new.A builder will give you a price,then he will then add stamp duties,local gov charges,you got to pay for driveways,more lights ,power points all the things they don't tell you about.

Then Curtains ,blinds,carpet etc.You may like a pool,$30,000 thanks.If you buy a second hand place these are included in the sale.

When I built mine ,the cost was at least a third more than they told me at the start.So you got to do your homework,ask a lot of questions and watch the market.

A town house is a row of two story attached dwellings ,two or more and usually have a common driveway which is owned by all residents.They us ally have a private small back yard each.

hope that helps

Answer 4

There are pros and cons to both.

Usually with building a new house you will probably find land for sale on the fringes of  the city with very little (and  expensive) public transport and probably, no adsl, and STD telephone charges!

Buying an established house might get you closer to the city and there will already be public transport, shops, and schools.

However, old houses will cost you virtually from 'day one' in maintenance charges, which you might avoid for the first ten years of a new house. Be prepared to be a home handyman in an old house.

Answer 5

If you could by the land cheap enough and pick the right design house,then yes,you could save heaps of money.My husband who is a registered builder has 4 bedroom house designs that only cost $140,000 to build,that's if the soil test comes back as being M classed otherwise the cost will go up more because you will need more concrete for the foundation and then  all you need to do is buy carpet.

Town houses are a lot like housing estates in England and Ireland but not as many houses.Sometimes the townhouses are joined together,which, if they  not properly insulated,you can hear your neighbors through the walls sometimes.The land plot is a lot smaller,and sometimes there is an annual  fee to maintain all the grounds.