Forums / Property Investing / General Property / buy or build home at gold coast ?

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  • Profile photo of Kris NapalmKris Napalm
    Member
    @kris-napalm
    Join Date: 2012
    Post Count: 9

    Hello everyone,

    i am looking at options for building a house or buying a house at bonogin gold coast,
    i prefer building the house, but not sure..

    my budget is 500 K , i can stretch a bit more, and i am 30 Yrs old, going to be married soon, doing online business, the reason i want to buy a land and build a home, because most of the houses or apartment we saw, are difficult to customize and change things around, further there are agent fees, and so many legal things it freaks me out a bit..

    i am looking for a land in bonogin, gold coast and the land offer i am receiving is around 200-300K and building qoutes not checked any .. looking for builders still.. and the house direct buying rates is around 600 -800 K plus there are legal fees attached, so not sure what to do..

    any recommendations are welcome.

    Thank you..
    kris

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404

    The Gold Coast is on sale at the moment. You need to look carefully at price comparisons. You may be able to snag yourself a bargain by buying something that's already built.

    Is this to live in? That makes a difference too. If it's for investment only the numbers matter.

    Profile photo of Andrew_AAndrew_A
    Participant
    @andrew_a
    Join Date: 2003
    Post Count: 392

    Yes a good time to be bargaining hard on the coast, depends on how much you value the custom built home, either way very promising scope to buy well.

    Profile photo of Michael 888Michael 888
    Participant
    @michael-888
    Join Date: 2005
    Post Count: 260

    Andrew and Catalyst have nailed it.
     
    IMO buy slightly used properties that have not only had organic depreciation of the building but where the values are probably off by 30 % in the foothills since their peak of 2007.

      Also consider Mudgeeraba and Tallai. I believe the bottom of the market has arrived on the Gold Coast, but I am not ringing the bull rush bell just yet. It will be sideways for a while until the next upswing.

    Profile photo of Kris NapalmKris Napalm
    Member
    @kris-napalm
    Join Date: 2012
    Post Count: 9

    i actually read some articles like

    build better than buy by 200,000$

    building boost offer

    and i heard from my UK friend there is also a 10,000$ discount for new home makers since i am an expatriate..

    and i guess it is be really good to build the house.. but still open to thinking more…

    got a friend who works as Gold Coast Builders

    so just checking more quotes and getting building home ideas…

    will keep you guys updated about the quotes and new happening…..

    Profile photo of Kris NapalmKris Napalm
    Member
    @kris-napalm
    Join Date: 2012
    Post Count: 9

    i contacted some builders and land agents..
    and they said the cost of buying a land and building it, will cost around 500k , for a 1.5 acre land in bonogin and buildind a 3 bedroom , 3 bathroom house..
    is it a fair deal..

    i guess its a good deal..

    should i wait a bit more..
    or just take it..

    Profile photo of DAMPropertyDAMProperty
    Participant
    @damproperty
    Join Date: 2011
    Post Count: 44

    Do your research on builders.  There have been some bad experiences with builders on the Gold Coast for some people and they have been waiting for years for their house to be built and then they have been leaking with all the rain we've had.

    DAMProperty | DAM Accounting Services
    https://www.damaccountingservices.com.au

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