Building vs buying

[Feras]

hello there

does anybody know how much does it cost to build a house in NZ ? lets say u bought a land in Otago and u wanted to build a standard 3 bedroom house then how much does it cost ( roughly). whats cheaper in new zealand to build with, bricks or wood ? and whats better for earthquakes etc. does it work out cheaper to buy a house or to build one, and do u get mortgage for building or do u only get it for the land and then u build it urself ?

[Super_BQ]

Cost of building residential homes vary considerable between regions. On the cheap, you could build in Christchurch for around $1300 per sqm while in Auckland, it will be around the $2000 figure. I'm not familiar with Otago region and the cost will vary quite a bit between building in Dunedin vs 100 kms away on a farm lot.

whats cheaper in new zealand to build with, bricks or wood ?

The price difference between brick or linea wood composite cladding is very small. For an average size house the differences may only be 2 or 3 thousand. If you're looking at framing structures of the house, that too isn't much different in cost between 2x4 wood vs Axxis steel framed housing. Actually Golden Homes here in Christchurch can build steel framed for around $1100 per sqm is which cheaper than wood.

Keep in mind, brick on the outside of the house is only a veneer. It's not brick continuously through from inside to outside of the wall. The core structure is still basically wood for most homes.

and whats better for earthquakes etc

Building on the cheap means building to minimum building codes. If you want earthquake resistance, then you have to look at commercial designs and incorporate them into your home. However, even the strongest designed house does not guarantee free of damage from an earthquake - there's always a change it can fail. You're best to build on solid ground or ground that is not questionable against earthquakes.

do u get mortgage for building or do u only get it for the land and then u build it urself ?

Some builders can work to a price of the approved mortgage amount. That's up to the bank to decide (that lends you the $). House and land package option is quite common too. Either way, you have a contract price from the builder and you can take that back to the bank for approval of funds.

[cantwait]

It's expensive to build here....more than we anticipated. So, unless you really want to have the experience of building a custom home (which was our ultimate choice), you will likely get more bang for your buck by buying an already built home....in this market, you'll find a great house for less than you might have a few yrs ago.

Good luck

[ralf-nz]

No one can tell what it might cost just like that. There are generally too many uncertain variables.

Different areas have different prices for property. Be ut within metropolitan Dunedin or rural; Queenstown is (very) expensive!

Structurally there are several solutions to design safe. A rest risk always remains. It depends amongst others on the money you are willing to spend.

[GreenMeansGo]

This website might help:
http://www.dbh.govt.nz/bofficials-es...building-costs