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  1. #1
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    Default Is building in a new development worth it?

    We currently live on one side of our suburb and there is a beautiful new area on the other side of our suburb, it is just stunning. After driving through there a couple of times, I have the bug to build. But I'm just wondering what people's experiences have been building, particularly in a fairly new area. What was the difference between your original price and what you actually ended up paying? Can you make many changes to the house design before it starts costing ridiculous amounts? Any other thoughts or feedback on building?

    TIA :-)

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    Bump :-)

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    Subbed as I'd like to hear some experiences as well

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    Subbing, we are considering same.

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    We are in the process of building a house on a block of land that's part of a newly released section of an estate. We purchased the land by itself rather than a house and land package.
    You asked about the original price, do you mean the base price?
    Ours is a custom build so the changes to plans didn't apply.
    It has been good so far. A few frustrations with the developer but we're just tackling them one by one.
    Ask any questions you need!
    Last edited by bezzy; 14-03-2014 at 20:23.

  6. #6
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    Quote Originally Posted by bezzy View Post
    We are in the process of building a house on a block of land that's part of a newly released section of an estate. We purchased the land by itself rather than a house and land package.
    You asked about the original price, do you mean the base price?
    Ours is a custom build so the changes to plans didn't apply.
    It has been good so far. A few frustrations with the developer but we're just tackling them one by one.
    Ask any questions you need!
    What I was referring to with the price is that I've heard of heaps of people who are given a price but then heaps of things come up during building and suddenly it is way more expensive than they had expected... Have you come across many extra expenses yet?

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    Things like extra for driveways, minimal power points, only one coat of paint etc. happen all the time.

    I haven't built a new house, but my friend was looking at it. I don't know about other places, but in Sydney, the new estates seem to have small land, houses right next to each other.

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    Extra cost also include connecting the phone line (as in the actual cabling from the street) - this was where we were stung - plus it was a 6 month wait! No internet was very frustrating.

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    Our contract includes every little thing, driveway, fencing, phone/internet connection, letterbox, extra power points, our choice of all tapware, carpet, light fittings, etc. We paid a bit over $200,000 above the 'base' price for the house. Fixed price contract. (House size is around 340m2 on land just over 1000m2).
    Last edited by bezzy; 15-03-2014 at 08:55.

  10. #10
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    We went and found out some more info today and had a look in the display homes and I'm in love. I just don't know if we're in the right financial position to do that at the moment, now wondering whether we should buy an investment property instead... Arghh! I think we need to see a financial planner!


 

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