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  1. #1
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    Default Building Advice Needed!

    Hi all!

    Just after some hints and tips for those Hubbers out there who have previously built a home. We are looking to build in the next year or two and I am after some advice!

    Currently we have a mortgage on our home and we will be looking to sell it. It's currently valued around $500k and we owe $340k. We are thinking of renting until our house is built. We have been left 60 acres of land after my FIL passed earlier this year. So we own the land outright. Has anyone out there sold, rented then built? Some tips or hints would be greatly appreciated!

    I know exactly what kind of house I want so that helps. My DH's best mate is an architect so he is designing our home. Has anyone done this then found a builder with your plan? We are newbies to the building game so need advice.

    Any help would be greatly appreciated

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    Is there a house already on the block? Here in Victoria, to my knowledge, you won't get a building permit for land under 100 acres unless there's already a dwelling on it. Not sure about other states.

  3. The Following User Says Thank You to Hollywood For This Useful Post:

    Chippa  (16-11-2016)

  4. #3
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    Edit: that's for rural land I assume. Different if it's zoned residential.

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    We sold our house, rented & built. We had everything ready to go with builder before we sold so that as soon as money came through from sale we were ready to commence building. Build took 5 months. We had a small building company, just 2 brothers one the draftsman the other the builder. That was great for us having a small company. I was on site most days it was awesome. Can't wait to build again!

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    Chippa  (16-11-2016)

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    Quote Originally Posted by Hollywood View Post
    Is there a house already on the block? Here in Victoria, to my knowledge, you won't get a building permit for land under 100 acres unless there's already a dwelling on it. Not sure about other states.
    No there's no house on there but when my FIL bought it it was part of a subdivision already so we are able to build on it. Building permission was granted then we just need to apply again. Mind you we had to go via a solicitor to get this info out of our local council if it hadn't been a part of this previous subdivision we would have been stuffed.

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    Quote Originally Posted by bezzy View Post
    We sold our house, rented & built. We had everything ready to go with builder before we sold so that as soon as money came through from sale we were ready to commence building. Build took 5 months. We had a small building company, just 2 brothers one the draftsman the other the builder. That was great for us having a small company. I was on site most days it was awesome. Can't wait to build again!
    Thanks Bezzy that's what we are hoping to do. I assume we will just pay out our mortgage then take out a new loan for building? We have to get power connected so that will cost a fair bit.

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    Quote Originally Posted by Chippa View Post
    Thanks Bezzy that's what we are hoping to do. I assume we will just pay out our mortgage then take out a new loan for building? We have to get power connected so that will cost a fair bit.
    Yes we paid out our mortgage on first house and then put those funds towards the build (deposit etc).

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    Chippa  (16-11-2016)


 

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