hi guys,
my first post and im after a bit of information/advice.
Im looking at buying a new build 150m2 4 bedroom house on a 450m2 section on the north shore, direct from the builder, hes bought the section and expects to build the house within 4 months.
What im unsure of is how to accurately estimate the buy price?
Ive done a search on qv so i know roughly what houses of this size are going for within the same area.
But im asking myself is this enough, ive got a rough figure in my head as to what to offer, but as ive got no real experience with new builds im sort of in a quandry really.
I suppose im after any advice you guys can give me really.
This property will be my PPR, but as im slowly getting into property investing, this is a case of buy a house to live in first and if i buy this house for a reasonable sum and it makes money between me buying it and it being completed in 4 months time then great. But if it doesnt and its valued at the same price then thats ok as well because it will be the PPR.
I want to make sure that i buy it at the right price, a win win sitaution for me and the builder, he sells the house, i get a PPR hopefully cheaper than market value.
Apart from doing the qv search and using $1500/$2000 per square metre for building costs, how can i make sure that i dont overpay.
Apologies for the long winded question, but hopefully it makes sense
thanks
yorkshire boy
my first post and im after a bit of information/advice.
Im looking at buying a new build 150m2 4 bedroom house on a 450m2 section on the north shore, direct from the builder, hes bought the section and expects to build the house within 4 months.
What im unsure of is how to accurately estimate the buy price?
Ive done a search on qv so i know roughly what houses of this size are going for within the same area.
But im asking myself is this enough, ive got a rough figure in my head as to what to offer, but as ive got no real experience with new builds im sort of in a quandry really.
I suppose im after any advice you guys can give me really.
This property will be my PPR, but as im slowly getting into property investing, this is a case of buy a house to live in first and if i buy this house for a reasonable sum and it makes money between me buying it and it being completed in 4 months time then great. But if it doesnt and its valued at the same price then thats ok as well because it will be the PPR.
I want to make sure that i buy it at the right price, a win win sitaution for me and the builder, he sells the house, i get a PPR hopefully cheaper than market value.
Apart from doing the qv search and using $1500/$2000 per square metre for building costs, how can i make sure that i dont overpay.
Apologies for the long winded question, but hopefully it makes sense
thanks
yorkshire boy
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