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  1. #1
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    Default Build, renovate, knock down?

    Ok we are looking at another property within the next few years. We have a few options:
    Buy existing - rent out for a few years ( so we get benefits of an investment property ) - then move in and renovate. This will be a more solid property that just needs cosmetic work.Buy existing - rent out for a few years ( so we get benefits of an investment property ) - then knock it down ( this will be an older house suitable to rent but ok to demolish later) and build our dream home. Move in nothing to do.
    Buy land- build- move in no investment property benefits
    Buy land- build- rent out then move in ( investment benefits but someone is living in our dream home - so it will be 2nd hand)

    What would you do? What have you done?
    I've done rough costs and (not including benefits from "investment") it will all cost the same in the long run

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    Default Build, renovate, knock down?

    I would choose your ideal suburb/ area, then look at all houses or blocks of land that meet your needs in that area. You will find your perfect place but remember location is everything.
    We have an old crappy house in the best location (typical worst house in best street) and will be renovating soon. Not what we envisaged doing but when this house was for sale we had to have it.

    We have built new houses and are almost at the commencing renovating stage on this one. I haven't found any difference in stress levels either way.

  3. #3
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    Default Build, renovate, knock down?

    Thanks we went to a display village today and I think we are incline to build in an established area. So buy crappy house rent it out for awhile, demolish when we're ready to build and build our dream home.

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    Default Build, renovate, knock down?

    I wouldn't buy in a newer suburb, but that's just me.

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    Default Build, renovate, knock down?

    I'm not much of a fan either

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    Default Build, renovate, knock down?

    Quote Originally Posted by Plan2bamummy View Post
    Thanks we went to a display village today and I think we are incline to build in an established area. So buy crappy house rent it out for awhile, demolish when we're ready to build and build our dream home.
    Yep sounds like a good plan.
    I still wouldn't rule out renovating if a house worth keeping comes up in your preferred area.


 

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