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To build or buy existing?

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  • To build or buy existing?

    We are looking at moving to Waiuku but am seriously thinking about building. Only thing is, i have no idea where to start.
    I know i have to buy section (and alot goes with that i understand) then build the house, sounds easy doesnt it? But i am sure there are many pitfalls etc, that i would really appreciate hearing about.

  • #2
    If you're looking at a lifestyle block, be aware of services to the site and how far they have to run to get to the house form the street. This can add thousands.

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    • #3
      Originally posted by Rayandstew View Post
      We are looking at moving to Waiuku but am seriously thinking about building. Only thing is, i have no idea where to start.
      I know i have to buy section (and alot goes with that i understand) then build the house, sounds easy doesnt it? But i am sure there are many pitfalls etc, that i would really appreciate hearing about.
      Nah building a house is easy. You'll love working with the council.

      We just have a housing shortage because all the builders/developers are lazy greedy type.

      Squadly dinky do!

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      • #4
        So what about a house and land package? $545K? Land, home, everything up and running in 4 months, ready to move in?? Any pitfalls there i need to think about?

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        • #5
          Mostly build quality related and pinning down exactly what is in the scope of the package and what is excluded. Landscaping, chattels etc. Add to that, time to build and hand over, they are often late which can be a problem depending on your situation.

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          • #6
            Originally posted by Rayandstew View Post
            So what about a house and land package? $545K? Land, home, everything up and running in 4 months, ready to move in?? Any pitfalls there i need to think about?
            You should be able to build a house in 4 months but you can't.

            Resource consent (if needed) can take 6 weeks, building consent maybe 6-12 weeks depending on plans etc., then build time, probably 4 months or so.
            Squadly dinky do!

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            • #7
              House and land can be a really simple and easy solution. The key is to make sure you are dealing with a good company. Talk with their previous clients in the area etc. The main reason people have any issue is because they stuff up their financing. Make sure you get expert advice on that and look at all risks before signing the bottom line. Change of bank criteria etc. should not effect them having to pay you out in a few months for instance.

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              • #8
                Remember that on top of the basic house and land price, things like fencing and landscaping are very expensive too, unless you want to do that yourself.
                I guess you are not buying a lifestyle block in Waiku to save money though are you?

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                • #9
                  Unless you are terrible at looking for and negotiating just buy existing. It is cheaper and way less hassle.

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                  • #10
                    I'd agree with that. After having done some building, it's just waaaay easier to buy existing.

                    Mind you, this sounds like a home rather than an investment, so it's a bit different.
                    Squadly dinky do!

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                    • #11
                      Avoid variations. They are costly, and can slow the build/cause problems. Once you have your specification and are happy with it, dont go changing it while building.

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                      • #12
                        how about moving an existing house to the site? cheaper than a new build.

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                        • #13
                          If you're going to build you need to be realistic about how long it will take and whether you're happy renting for a period of time that may be longer than you want. If you're realistic then I'd say build, it's stressful yes and can be a hassle but you reap the rewards once it's done.

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                          • #14
                            Originally posted by grip View Post
                            how about moving an existing house to the site? cheaper than a new build.
                            Not always, a lot more risk involved with this approach. It can work out well, but usually you end up having to do a major renovation once the house is on site, costs of which are much harder to control that for a new build.

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                            • #15
                              A lot happening with govt. trying to make everything about building new cheaper. If they apply the pharmac model on building materials then that will make a difference in costs. I'd be holding out building new for a year or 2

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