Currently selling newly constructed 3 bed villa two doors up for 520K. We will be selling a detached (only joined by the yard/Fence) 4 bed with double garage. So hopefully all this will be worth while and even then we have increased the equity we have even if we break even.

Qlds007 wrote:
Yes there are lenders that will lend on the gross realisation of the completed project however one issue i can see is that when you knock your current house down for a period of time you will only have the land and this may well be worth less than the current mortgage.This will make lenders nervous however as anything without more…[Read more]

DWolfe wrote:
Hi,Sorry I'm not going to comment on the finance part, I'll leave that for Richard and Terry.Where is the site? depending on where it is having separate dwellings may have higher resale. The other thing is depending on where you are you may be able to get 3 dwellings on it. I know this adds a whole other dimension to it such as…[Read more]

I have been told that if I knock down our old cottage and build two new strata free standing homes I can live in 1st one (have mail directed etc) rent out the 2nd one for 3 months. Then decide to move to the 2nd one  – send letter saying have moved due to noise, privacy etc etc to tax office, move to 2nd one then sell 1st and avoid CGT. Does th…[Read more]

So we have a firmer quote for 511K for demolition and everything except carpet, landscaping etc. Might look at own demolition (another independent dem co.) so see if we can keep the costs down. We have for this price for building 2 x two storey double garage 2 bathroom houses. One is 197 sq the other 201 sq. So I think the price based on the…[Read more]

So we have a firmer quote for 511K for demolition and everything except carpet, landscaping etc. Might look at own demolition (another independent dem co.) so see if we can keep the costs down. We have for this price for building 2 x two storey double garage 2 bathroom houses. One is 197 sq the other 201 sq. So I think the price based on the…[Read more]

Thanks all  – very informative. As it is our first attempt and we have two yound children we are mostly inclined to go with an all in quote and build to finish and see how the quote looks. We have heard only very good things from many sources for one of them. SO we shell take another small step or two and see if we are brave enought to take the…[Read more]

No living costs and moving into mothers house. Some great suggestions there. Thanks. I hadn't though of a commercial builder. I had though of buidling using and ICP (insulated concrete form) to speed up the build process.  selling now for about 480K to 550. I will keep investigating. Hopefully the market will rise also while we are building -…[Read more]