Hi all
New to the forum, and new to property investing in general. I am looking at building 2 X 2BR/1BTH Units in Wodonga VIC, and I have a strict budget of $100k each, not including land. I’d like to build as eco-friendly as possible, and would like a medium finish. Nothing too fancy, but attractive none the less.
I’m not overly handy, but with the help of some friends and family, we can cover the landscaping, painting, tiling, paving, and possibly cabinetry and some plumbing. I also have a friend who is a cementer to help with the slab etc.
The land I have been looking at is around 600m2, pretty flat, and relatively square in size. It’s also located in an established residential area.So Basically, I am wanting to know if you think my budget is realistic? And would it be more cos effective to pay an architect/designer to have designs done, and hire subbies for the main building, or just get everything done through a builder?
Also, I’m a little concerned about costs for site connections and other incidentals. I’ve never built before, so have no idea what all the hidden costs are that the builders dont tell you about
Would appreciate any assistance, info, suggestions, tips etc
Thanks in advance
Elle
I cant help you with the legal side but I did make an offer on a duplex this week in the hunter valley NSW. I thought they were such an easy clever design that I am now thinking about buying a block of land and building the same thing myself.
It looks to me like they were 2x 2 bedroom granny flat type units, mirror image, side by side with a common double car port roof between them.
Facing the street so the driveway came straight up and under the carport. They had solar hot water and water tanks out the rear.
They were made out of hardyplank and colourbond. were tiled floor in living area and kitchen. very neat and tidy. only 4 years old.
I’m trying to research similar ones on the net to get some idea of prices. I dont think they would be over a 100k though.
if they fit into my budget I think it would be the way to go for me. Small cheap building but with a double income. There is plenty of call for that sort of rental.Anyway just thought I’d pass on my idea. Good luck with it all. Let me know if you find anything on the net like it.
Hi Dylan,
I'm looking for something similar in Hunter Valley.
Could you post more details or a link to builder's sales office, please?Sounds great Dylan. Sounds similar to the set-up I’m looking to do. Haven’t had a lot of luck finding builders in my area on the net, I think it will have to be a face to face/phone job. Actually haven’t been able to even find any unit/townhouse plans on any of the local builders websites, which I was somewhat suprised at. I have two large universities near me, so there is quite a big unit/townhouse market. I would have thought was a bit easier to find info actually.
Out of interest, what price range were the units you’ve made an offer on?
I was hoping someone here had done something similar, but doesn’t appear to be. I actually have a few designs in my head myself, was wondering what the cost difference would be to get one drawn up, get subbies in for the build, and project manage myself, rather than go through the one builder for everything. From what I understand this can be quite a bit cheaper, although obviously can be a bit of a headache also.
Would be interested to see how you go in your search.
Elle
Hey Elle,
I have never done this before, so take this idea for what it is…an idea…I haven’t tested this.
Maybe you could buy an old house, get it trucked to your block of land and re-stumped. If you can find a cheap house and get quotes on the movement and re-stumping then you might have a chance of it coming in at under $100k.
Ryan McLean | On Property
http://onproperty.com.au
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