We found a lovely large section with sea views.
But we had no idea what was involved with getting a relocatable onto this site.
We've since done the research and we still believe it's feasible. But not as feasible as first thought.
What we've budgeted:
$110,000 for 170sqm home relocated on piles and nailed in.
$4,000 approx for a Geotechnichal report
$25,000 (high end) sewerage and Drainage
$6,000 forbuilding consent
$10,000 site works and excavations
$600 architect
$20,000 driveway
$3,000 possible rewiring
$3,000 lawyers fees
$300 Lim
$2,000 insulation
$500 insurances
$2,500 - 2 x registered valuations
Plus land costs: $215,000.
Would LOVE TO KNOW IF WE ARE MISSING SOMETHING HERE?
BUT.....We just went to the bank and the bank is now saying that they MIGHT NOT LEND. Even though we had pre approval.
They say they need 2 times registered valuations.
We've not even started this project and i'm starting to freak a little.
2 x registered valuations and they MIGHT NOT EVEN LEND??!! I didn't realise this was necessary.
Then we have to get a Geotechnical report $4,000 - and if that comes back that we can't build.
Then I realise we'll have spent $6k - FOR NOTHING. Just thrown money away. And I find that a hard pill to swallow. When we could just as easily go out and buy a maybe less desirable home that is already on a piece of land. With less stress.
We are a big family - six kids in total - blended family. So we were hoping this would save us money. But now i'm worried - it could send us broke.
Then there is the issue with code of compliance - what if the relocatable we get doesn't get approved by council and then we get hit with fines or whatever - i've seen some horror stories.
Our Bank has also told us to budget for at least an $80k overspend in these type of situations which of course made me baulk.
We need to make a decision and quick...is this worth doing or are we better off buying a house already on a piece of land. We live in Northland - so prices not low but not high either.
We have a finance satisfactory to the purchaser clause - so could walk away now that we realise it's going to cost us more than first thought.
Cheers!!
But we had no idea what was involved with getting a relocatable onto this site.
We've since done the research and we still believe it's feasible. But not as feasible as first thought.
What we've budgeted:
$110,000 for 170sqm home relocated on piles and nailed in.
$4,000 approx for a Geotechnichal report
$25,000 (high end) sewerage and Drainage
$6,000 forbuilding consent
$10,000 site works and excavations
$600 architect
$20,000 driveway
$3,000 possible rewiring
$3,000 lawyers fees
$300 Lim
$2,000 insulation
$500 insurances
$2,500 - 2 x registered valuations
Plus land costs: $215,000.
Would LOVE TO KNOW IF WE ARE MISSING SOMETHING HERE?
BUT.....We just went to the bank and the bank is now saying that they MIGHT NOT LEND. Even though we had pre approval.
They say they need 2 times registered valuations.
We've not even started this project and i'm starting to freak a little.
2 x registered valuations and they MIGHT NOT EVEN LEND??!! I didn't realise this was necessary.
Then we have to get a Geotechnical report $4,000 - and if that comes back that we can't build.
Then I realise we'll have spent $6k - FOR NOTHING. Just thrown money away. And I find that a hard pill to swallow. When we could just as easily go out and buy a maybe less desirable home that is already on a piece of land. With less stress.
We are a big family - six kids in total - blended family. So we were hoping this would save us money. But now i'm worried - it could send us broke.
Then there is the issue with code of compliance - what if the relocatable we get doesn't get approved by council and then we get hit with fines or whatever - i've seen some horror stories.
Our Bank has also told us to budget for at least an $80k overspend in these type of situations which of course made me baulk.
We need to make a decision and quick...is this worth doing or are we better off buying a house already on a piece of land. We live in Northland - so prices not low but not high either.
We have a finance satisfactory to the purchaser clause - so could walk away now that we realise it's going to cost us more than first thought.
Cheers!!
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