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Building New - What to do with existing house?

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  • Building New - What to do with existing house?

    Hi Everyone,

    I'm keen on your thoughts. We've been going through the process of renovations plans and surveys etc and after much thought (and unfortunately some $$) we've decided we're better off building new. Building a new home will cost more but it will also value up better and we worked out the 'unknown' of a renovation i.e. ripping off cladding, new roof etc might explode the costs to as much as a new build anyway but we'd be left with an inferior property.

    So we build new but our current home would make a good rental. Our architect suggested we 'give' the house away to offset removal and excavation costs. Thinking about that doesn't sit well as the home is in an good state for a 3 bed rental.

    I'd like your thoughts and experiences of moving a property onto another site and what's involved. Do we need to strip it out then build up (floors, kitchen, bathroom furnishing etc) or can it be transported in tact?

    We thought if we bought a section locally we'd just move the property onto it - connect up and off we go with another investment property. However I know it's not that simple and there's lots of hoops to jump through - I have no idea right now what they are including compliance, tax on sale (when we eventually sell - though we're looking at renting it out) etc.

    Any and all help is gratefully appreciated.

    cheers,

    Donna
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  • #2
    Start by talking to a house moving company and the price of a suitable section.
    Depending on the size they often move in one piece - they have done this before and will tell you all you need to know.
    Usually they move with little or no damage.

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    • #3
      We're going thru the same. Our existing has sentimental value to me tho as I helped Dad build & reno it over the years. So it's cost of the Reno vs cost of building new for me. Best of luck.

      Could you subdivide and move it forward or back? Would maybe cost less and you could still rent it while keeping an eye on your investment.

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      • #4
        Donna,

        You need a building consent to move it to the new site. And probably resource consent too...

        Maybe development contributions to be paid...

        But at the least, you need plans, new services connected etc.

        So plans showing the location of the house on the new section, how it will be piled, where the services will run etc. And then this work will have to be done and checked all the way like a new build. Although a lot less work of course.
        Squadly dinky do!

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        • #5
          In Auckland Donna you can get pretty much a fixed price to move and resite. Should be same in Welly. Often the tricky bit is access off the old site and on to the new. If they have to start chopping the house up it can get.
          You should chuck it on trademe to be removed and see what bites you get also.

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          • #6
            You mentioned ripping off cladding, assume there may be water tight issues? If so then when you move the rental onto a site you will have to bring it up to current building code. You may end up spending a fair bit of money on it on another site?

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            • #7
              Hi Donna

              If you buy a section somewhere cheap you can relocate the home there and set it up as a rental and look to sell that at a profit (or keep). Speak with a company like Brittons about it they can advise you through a lot. They are on that stretch of road between the Hutt Valley and Whitby... forget the name.

              Cheers
              Free online Property Investment Course from iFindProperty, a residential investment property agency.

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