Buying to Build

[nickydwuk]

I have heard that it can be cheaper to buy a section of land and then build a house. I can't believe that as in the UK this is only possible if you have loads of money or are a builder. What sort of price can you do this for?

[gil]

Depends where you are talking about. We decided against it once we'd worked out the section was going to cost between $5-600K and the sort/size/spec of house and landscaping combined with the contours of the section meant building costs would be in the order of $500k. We didn't have that amount available and dodn't want a mortgage of that size.
Of course, it can be cheaper elsewhere. We are talking Auckland and "good" school zones here! I think what I'm trying to say is, it's possibly not as cheap as some people might expect.
Gil

[marcia]

When came here in Jan 05, we got to know a builder who is a good friend of ours now, then to actually build a house with decent fittings was around $1000 per square metre, now you are looking at around $1500. Prices of sections have gone up a lot too.

Again it all varies dependant on where you are looking though, some places being a lot cheaper others dearer - afraid its just more research for you!

[Dave in NZ]

This is the govt building cost average per square metre.
http://www.dbh.govt.nz/bofficials-es...ing-costs#map1
Also you may find this useful http://www.enz.org/forum/showthread.php?t=9378

As regards if it is cheaper to build it all depends on what you are after.We have bought land in Auckland in Okura/Redvale but land can be bought cheaper elsewhere.If we bought the equivalent to what we are having built we would easily be paying an extra $300K. The advantages of having a house built are that you can have all the insulation/heating/double glazing etc to give you a warm house in the winter and a cool house in the summer. So many existing properties lack in these areas. If you check my housing thread all the links to builders/govt depts,building forums are there. For a cheaper alternative you could consider a kitset home but ensure you use a reputable supplier.
To sum up I would say that in the long run it would work out cheaper to build your own as long as you use reputable builders etc.
Hope this helps

Dave and Caroline