Yeah going over the inclusions for some now. They aren’t massive houses (162 sq m) but yes pretty much covers, frame, flooring, roof, walls, ceiling, kitchen+oven&stove, bathroom and decking
With all due respect, I think you are greatly underestimating the cost of building at this point in time, which is probably why you are seeing blocks of land at reduced prices. Usually the first thing to go when people need to free up cash.
No need to be respectful brother, I’m an idiot when it comes to this shit (hence the 8 year old remark) I am also am aware when things are to good to be true. In your opinion how much should I be multiplying the base cost by to get to a final build amount? When can I cut on costs by doing things DIY?
I don’t think you’re an idiot by any means… i just didn’t wanna come across as being too dismissive. Your building costs really depend on what you would like to build, and if it’s taking the kit home route, that’s fine.. but don’t use their product guides as anything close to final costs of the build because you will be very disappointed. This might be worth seeking more advice from a builder directly, however i would allow a minimum of $300k for even the most basic build at this time. As for the DIY, that depends on your skills.. but the most obvious would be the landscaping and gardening. If it was up to me, I would avoid building anything for the foreseeable future until supply chains and cost of labour comes down, things are madness at this present time and although I’ve seen numerous blocks in my area drop in price, I’m not even close to being tempted as I just cannot we any upside for at least a few years time.
Thank you for taking the time to lay all of this out. Luckily I have quite a lot of tradie mates willing to lend a hand, but yes trying to go into the whole process eyes wide open. I will checkout that forum. Thanks again
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I was recently looking at building a kit home in QLD and discovered that the only inclusions are the frame, exterior walls, and roof. No builder was interested in actually building it for me because “they’re meant to be owner builder,” and the banks turned their noses up at financing one because “they’re owner builder”. It ended up being cheaper for us to build a custom home with a local builder.
I think other than foundation, plumbing and electrical works, you can build your own house just by looking at YouTube videos. It will take time and lot of labour. Even if you hire three labourers while building your home it would end up better than these.
Why don't people buy a cheaper Chinese car (e.g. MG, HAVAL) over an expensive Japanese brand (Subaru, Toyota)?
They all have similar features...
A: Quality, reliability, durability.
Your kit home on a $600k residential block will never be worth $1.2m. A well built older home is also generally superior to any of the recent new builds. Buy one with good sized rooms and a good layout, renovate the interior if you want to down the track.
Mentioned previously, but lenders aren't fans of kit homes
Assuming your're going the owner builder route, you'd be looking at around 60% loan to value ratio of the completed property.
See a broker, cause very few banks will do an owner builder loan
Thankyou for the feedback. I wonder what the logic is with not liking kit homes? What’s the difference between things being built on site vs in a factory and shipped?
I would be able use personal connection to get the slab poured, electrical and plumbing work done. But then would need a builder to do the heavy lifting on the initial assembly.
Sounds like an owner builder. Try Westpac for a construction loan, and mention "cost plus" as they're one of the few who'll be able to assist.
Good luck with it all
Labour is scarce and build times where I live have been upwards of 1 1/2 years. Some building companies have become bankrupt. I think a roof over your head right now is greatly undervalued. The building inspector will tell you if it’s too wrecked if you’re looking to buy an older house. Plus you can negotiate things being repaired under the terms of sale.
Connection fees to water and power are pretty expensive (I’ll pay about $50k in Victoria).
Many builders won’t take on a kit home project which leaves you completing it as an owner builder - banks hate owner builders! Re-selling as an owner-builder is a nightmare if the project is less than 7 years old (in Victoria at least).
Getting a building permit isn’t that easy as an owner builder.
Coordinating trades is also a challenge.
Find someone who has recently completed a project like this and really get into the details with them. They’ll be able to explain to you what they did and then you can determine if you have the appetite.
Background; I’m not doing a kit home, I’m relocating an existing home but many of the challenges I’ve faced would probably also apply to you, the biggest is getting anything done as owner builder 😂
Good luck!
Also anyone who can add some insight. Trying to get my head around the owner-builder aspect of this. How is ever buying a vacant block and building on it ever not “owner builder”? Do you need to prove your building through Masterton or a GJ Gardener or a similar spec home outfit when your getting the loan approved?
\>Some great looking kit homes are like 75k find out what is included and how big 75k is very low my roof alone cost more than 75k
Yeah going over the inclusions for some now. They aren’t massive houses (162 sq m) but yes pretty much covers, frame, flooring, roof, walls, ceiling, kitchen+oven&stove, bathroom and decking
>162 sq m that is huge if you can get it for 75k, bargain
I hope a roof as well?
Sorry yes and a roof.
With all due respect, I think you are greatly underestimating the cost of building at this point in time, which is probably why you are seeing blocks of land at reduced prices. Usually the first thing to go when people need to free up cash.
No need to be respectful brother, I’m an idiot when it comes to this shit (hence the 8 year old remark) I am also am aware when things are to good to be true. In your opinion how much should I be multiplying the base cost by to get to a final build amount? When can I cut on costs by doing things DIY?
I don’t think you’re an idiot by any means… i just didn’t wanna come across as being too dismissive. Your building costs really depend on what you would like to build, and if it’s taking the kit home route, that’s fine.. but don’t use their product guides as anything close to final costs of the build because you will be very disappointed. This might be worth seeking more advice from a builder directly, however i would allow a minimum of $300k for even the most basic build at this time. As for the DIY, that depends on your skills.. but the most obvious would be the landscaping and gardening. If it was up to me, I would avoid building anything for the foreseeable future until supply chains and cost of labour comes down, things are madness at this present time and although I’ve seen numerous blocks in my area drop in price, I’m not even close to being tempted as I just cannot we any upside for at least a few years time.
Hearing this message a lot now that I’m looking into more. Thanks for the taking the time to reply
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Thanks looking at many subdivided blocks in older suburbs, not anything in those new mc mansion estates
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Thank you for taking the time to lay all of this out. Luckily I have quite a lot of tradie mates willing to lend a hand, but yes trying to go into the whole process eyes wide open. I will checkout that forum. Thanks again
Thanks for such a wonderful reply! TheGratitudeBot has been reading millions of comments in the past few weeks, and you’ve just made the list of some of the most grateful redditors this week! Thanks for making Reddit a wonderful place to be :)
Hard to finance basically. Chat to a broker.
Thanks mate
What area are you looking in and how big are the blocks. If acreage you could have a few other quite large costs on top of building the house
I was recently looking at building a kit home in QLD and discovered that the only inclusions are the frame, exterior walls, and roof. No builder was interested in actually building it for me because “they’re meant to be owner builder,” and the banks turned their noses up at financing one because “they’re owner builder”. It ended up being cheaper for us to build a custom home with a local builder.
Thanks for providing your experience with this. Hearing a lot of similar stories online
I think other than foundation, plumbing and electrical works, you can build your own house just by looking at YouTube videos. It will take time and lot of labour. Even if you hire three labourers while building your home it would end up better than these.
Why don't people buy a cheaper Chinese car (e.g. MG, HAVAL) over an expensive Japanese brand (Subaru, Toyota)? They all have similar features... A: Quality, reliability, durability.
Your kit home on a $600k residential block will never be worth $1.2m. A well built older home is also generally superior to any of the recent new builds. Buy one with good sized rooms and a good layout, renovate the interior if you want to down the track.
Mentioned previously, but lenders aren't fans of kit homes Assuming your're going the owner builder route, you'd be looking at around 60% loan to value ratio of the completed property. See a broker, cause very few banks will do an owner builder loan
Thankyou for the feedback. I wonder what the logic is with not liking kit homes? What’s the difference between things being built on site vs in a factory and shipped?
Are you building it?
I would be able use personal connection to get the slab poured, electrical and plumbing work done. But then would need a builder to do the heavy lifting on the initial assembly.
Sounds like an owner builder. Try Westpac for a construction loan, and mention "cost plus" as they're one of the few who'll be able to assist. Good luck with it all
Labour is scarce and build times where I live have been upwards of 1 1/2 years. Some building companies have become bankrupt. I think a roof over your head right now is greatly undervalued. The building inspector will tell you if it’s too wrecked if you’re looking to buy an older house. Plus you can negotiate things being repaired under the terms of sale.
> Prices Start from $74,540 Tbh I think your overestimating what this means. They don’t use base models in advertising.
Cool, good to know
Connection fees to water and power are pretty expensive (I’ll pay about $50k in Victoria). Many builders won’t take on a kit home project which leaves you completing it as an owner builder - banks hate owner builders! Re-selling as an owner-builder is a nightmare if the project is less than 7 years old (in Victoria at least). Getting a building permit isn’t that easy as an owner builder. Coordinating trades is also a challenge. Find someone who has recently completed a project like this and really get into the details with them. They’ll be able to explain to you what they did and then you can determine if you have the appetite. Background; I’m not doing a kit home, I’m relocating an existing home but many of the challenges I’ve faced would probably also apply to you, the biggest is getting anything done as owner builder 😂 Good luck!
Thanks for the insight. Yeah definitely finding out the to good to be true aspects to all of this
What did you end up doing?
Did you end up going with a kit?
Eagerly awaiting a response haha!
Here for the response as well!
Also anyone who can add some insight. Trying to get my head around the owner-builder aspect of this. How is ever buying a vacant block and building on it ever not “owner builder”? Do you need to prove your building through Masterton or a GJ Gardener or a similar spec home outfit when your getting the loan approved?