While building a new home, there are many matters to consider. The first thing is to figure out whether you want to start with a house and land packages Brisbane offers or go forward with a knock down rebuild Brisbane options.
Before you decide on anything, you need to know how both these options work, its merits and demerits. So let’s take a look at these in detail.
Knock Down Rebuild
In the past two decades, the rapid increase in land prices has led to many people opting for knocking down and rebuilding on the existing plot. Today, you only get small lot house plans Brisbane city has, for what you would have got ten years ago, for the very same rates. That too in bigger cities, it is almost impossible to find vacant lands. But that is not the only reason.
If you already have made a social network there, love the community and the perks that come with it, you might not be prepared to leave the place yet. It is the perfect approach to get a new home, without leaving behind the things you already love about your old house.
Many homeowners are already invested in the community. Schools, public places and even shops have become an established way of their living, and not everyone would want to uproot themselves from the familiar features. Decisions like the daily commute to work and the proximity of schools would all affect this decision hugely.
Another way to proceed is to purchase a property with a house on it. If the value of the house has depreciated over the years, then you might get the land also for a cheaper rate. Then you can knock down that existing building and build yours there.
Why not Knock Down Build?
While there are many positives to this type of approach, there are also many cons that come along with it. A knockdown project could cause for more unexpected expenses rather than rebuilding.
To start with, the laws and permits regarding the particular site would have changed. Now, there might be more limitations to how you can build. A known down rebuild project often takes more time to get approval, which could extend up to four months whereas, with a new project, the time is considerably much less.
The site conditions and the surroundings might have also changed making the construction extra tricky.
For example, there might be a need for an extra electric pole, which you will have to pay for. There might also be limited access to the site which makes deliveries of materials more difficult. You might also need to do construction without affecting the property of existing neighbours or without creating a problem for them.
Then there is also the factor that you have to find an alternative solution to where you stay until the house is complete. This might often lead to more stress and discrepancy in your daily lifestyles.
The bottom line is, for a knockdown rebuild you need to have a big contingency fund, and prepare for surprises along the way.
House and Land Package
In the present scenario, if you are looking to settle near a city, the house and land packages are often available in housing estates in the suburbs. It is much affordable and if you want to start a family, close to the city, but still with access to the area of suburbs.
These are usually lent with fixed-term contracts, including the finishing of the house. This way, you are aware of all the costs upfront, and it is also easier for the lenders. House and land packages also have it easy when compared to knock down the building to get approvals from local departments. It could be done as fast as four to six weeks, as the land is vacant, with underground electricity and no trees.
Real estate agents also throw in an incentive for such packages. They would suggest to cover the stamp duty or double the current owners grant to entice buyers.
The biggest perk of such packages is the less pressure that comes with it. If you consider knock down rebuild, it is almost impossible to negotiate a package with contractors due to the unknown costs involved. With the former one, it is much easier to find builders and finish the project in the estimated time and within the budget.
Many such house estates, also have their own builders and a set of standard floor plans, for which they already have got approvals. You will be paying for both the property and the house in the package. The project is mostly turnkey that you will receive the house fully finished. You might have to do the interior on your own, but this lessens the stress involved in building a new project to a large extent.
Why not House and Land Package?
Not everyone is comfortable with uprooting themselves to a new environment. Moving to a new house in a new locality could make things difficult to cope up. Everything from finding basic facilities to necessary infrastructure has to be worked out from the beginning.
If you are acquiring a property in the suburbs particularly, heed that not all the places are developed or have all the amenities that you seek for within reach. If you have children, then you also have to factor in the availability of schools.
This is the key point people are often hung upon while deciding on a new house. Without a community that you gel in, it could be difficult to settle into a house.
To sum up, both kinds of practices comes with its own pros and cons. How you choose will depend on the position you and your family is in, your budget and the type of construction you want. But now at least you know a little better of both options.
The best option for you to start with is to sit down with house builders Brisbane and compare offers and prices. Contact TrustCo to see the best Brisbane builders list.