Buying a section?

[Dave in NZ]

We are coming over in Feb and have been doing a lot of research into the whole property market.
Because of the bad press on New Zealand housing we have decided to buy a section and get a home built to our own specification. we have even asked a couple of estate agents their opinion of whether to buy an existing house or a section and they both had said that personaly they would buy a section then you could be sure to get exactly what you want.
Marie P is certainly doing the right thing. Obviously we would have to check that we got the right builder..
I would be interested to hear from people who have bought their own existing home and whether they would have rather had bought a section and also from people who bought a section and how they have got on

All the best

Dave and Caroline

[Marie P]

Go for it Dave ...as long as you are aware of the time it all takes.

We bought our section in March and it will be December before we get the keys to the front door.

It has been great fun deciding on everything along the way ,and the house should be worth a lot more than we actually have paid .[its our pension plan ]

Good luck !

Marie x

[katandbob]

we would have bought a section and had one built, but we thought this place was the best of both worlds, some times i wish I had built (say half way through the 5th layer of wallpaper that i am stripping off!!!)

and I would have CENTRAL HEATING and DOUBLE GLAZING !!!! but the house is something we can build on in time, so I am ok with renovating, but I did think that we could section off our land for the kids if necessary - and I would build a Dream house for me and Rob in the far paddock with the view of Bluff Harbour.

Then the kid with the biggest family could have this house.

Kat

[Kim39]

We have bought a section, only a small one but its a start. All in with section and a house build (to own spec's which WILL include CH & DG ) on it we are looking at around 330-350k. Now as soon as we have the keys that house will be pulling in (if we decide to sell) 450k, whereas buying a property which we liked the look of on a 3/4 acre plot....house 35 yrs old, price was 385k. Now with the titivating that will come with it, say 10-20k we will have spent 405k with the possibility of selling for 420k. Now which is the best option???????? you tell me.


Kim

[Diny]

We bought a section down at the beach, at the moment it just has a small cabin on it (which is great storage for the kayaks and the fishing gear, body boards etc).

This very week we have been looking into our options. We've thought about getting a house built (bearing in mind this will be a holiday/2nd home) - we've been looking at such companies as Sunshine Homes, Total Span, Versatile Homes etc - great for beach homes but don't know whether I'd have them build my 'main home'.

2nd option ..... we've been trawling the used house lots (those eplaces are amazing). Some of the places look abit bashed and bedragled in the yard, but the price quoted (on average $80k for a good sized 4 bedroom place) includes fixing any damage caused during transport, usually a new roof, re-wiring etc and delivered and piled. If you're wanting a 'work in progress' project then this could be the way to go.

3rd option .... we have a 3 bedroom house here in Ashhurst which is our rental property. We're thinking along the lines of relocating that house down to the beach and then selling the section. The value of the beach section with a good sized, fairly new 3 bedroom house on it would be far more than the value of the house on the section here.

As for buying the section - couldn't have been easier. We made the decision to buy it on the spot - it was legally ours within 10 days.

Diny

[Kim39]

3rd option .... we have a 3 bedroom house here in Ashhurst which is our rental property. We're thinking along the lines of relocating that house down to the beach and then selling the section. The value of the beach section with a good sized, fairly new 3 bedroom house on it would be far more than the value of the house on the section here.


Diny

Go for this option Diny, in my mind you have won hands down with this, and should you decide to sell later am sure your chances of making big bucks is a good un. But in the meantime that section its on now will fetch a tidy dollar too.

Kim

[Diny]

Go for this option Diny, in my mind you have won hands down with this, and should you decide to sell later am sure your chances of making big bucks is a good un. But in the meantime that section its on now will fetch a tidy dollar too.

Kim

Have to admit Kim, this is the option that's looking most probable at this stage.

And guess what ....... it was Fergie who came up with the idea !!

Diny

[sizzlingbadger]

OH's parents have bought a section here in Featherston. They've still yet to complete and it's 8 months since they signed the contrac, the council have been really slow getting the subdivion through.

Once we've got building consent they'll be building a huge 270sqm house with granny annex for us and them. Should be hugely profitable as OH's dad is going to be doing most of the building.

We're using A1 Homes, www.a1homes.co.nz as they've come out as the best value.

Currently though we're living in a gorgeous house which has been built exceptional well for a kiwi house. It's going to be incredibly hard to leave here and move into a 'new' house as I usually hate them.

[Kim39]

And guess what ....... it was Fergie who came up with the idea !!

Diny

You gotta pay the kid commission then lass, and don't try and get out of it as i will tell him

Kim