Give up shelley while your still ahead. I have seen many projects like yours start but never finish.
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Give up shelley while your still ahead. I have seen many projects like yours start but never finish.
thx ausdesign i have been told we have to go 1mtr deep and 150 more then the bricks for the pad footing.good point about the tie down rod ill make sure we do that.thx for your help:UQuote:
Originally Posted by ausdesign
im sure most builders would love owner builders to crash n burn as they would have more work but giving up isnt an option for us but thx for your concern:UQuote:
Originally Posted by thebuildingsurv
hello,
and one can look to seek.com.au to continually see the advertisements from the likes of metricon, porter davis, burbank, ravida and engelhart for handyman/maintenance positions
I wonder what these maintenance crews do?
go for it bingo, building is not difficult
thankyou
myla
Shelly
these are my sums
someone has suggested that they would buy the new house PLUS the land for $195k
what did the land cost you?
what are your holding costs? i.e. the interest you have paid, and are yet to pay, on what you paid for the land — even if the land was free or bought with cash you should still factor in the interest you have forgone by not sellinmg the land and depositing the sale price in the bank (current bank interest rates are >6%)
cost of the land = $50k (it's a guess)
your estimate of 80k x 1.5 for contingencies = $120k (I like being conservative early on, that way you mainly only get pleasant surprises)
Total $170k
plus say $10k for holding costs
say you sell for $195k, then your profit is $15k (after tax)
between you, you and your partner will probably invest 2,000+ hours in the project (the reno across the road is currently being painted, building work started last June)
your earnings equate to less than $7.50/hr
appart from the experience will it be worth it?
if you're answering yes, good luck
ian
thank you myla i also dont think its difficult just technical cheers shelley:U:U:UQuote:
Originally Posted by myla
ok land cost 7.5k and all up with the land ive estimated 80k we dont have to borrow anything we will be paying cash for the lot.so even if it took 2yrs to build bottom dollar is we walk away with 200k so from renting in melb 3 yrs ago with not a cent to our name and going nowhere to 5yrs later with 200k and owing nothing to anyone i think thats a pretty good job personally.there is no way on this earth that we could of saved 200k by still renting in melb we couldnt save 10k as for our time well it beats sitting on our butts watching tv.absolutely no work up here unless your a local.in 3 1/2 years hubbys had 3mths solid work and heaps of other jobs collecting turkey eggs rounding up chooks working in the aboitoir shovelling wheat ect..we even opened a $2 shop trying to get an income but no support from the town people so we closed the doors after 8mths.so we have been trying very hard to be self efficient but very hard in a town of 750 people.building the house is our last option to be self sufficent,moving back to melb isnt an option as rents are ridiculous there now.so unless we wanted to be a burden on the system for the rest of our lives (which we dont)then building is the option for us to set us up cheers shelley:no:Quote:
Originally Posted by ian
While building is not rocket science and a good tradesman makes any job look easy it is in fact difficult if you don't have any training or experience. Watching home reno shows on telly does not count as experience. Asking questions here may help, but it won't prepare you for the reality of actually building a house. If it's so easy then why do I see so many unfinished or badly finished/built/designed/executed owner built projects around?Quote:
Originally Posted by myla
Mick
Best thing to do is ask other people their experience in spec building. If their truthful enough they'll tell you that the only money they made was the land value increasing.
They would have been better off just selling the land.
Banks cant sell half finished houses.
Right now theres a bunch of people watching their negative capital build.
Do some research into the owner builder liability and you may find you cant sell for a year depending on where you are. You will have to get indemnity insurance if you sell.
Building may not be rocket science but the law and legislation that goes with it is.
You'll find many trades just get builders to build their house.
It may sound negative but do the research. Ask around.
You may well pull it off. Do an owners builders course "at least"
ok guys thx for all the advise ive got the answer to my questions and much appreciate them cheers shelley
I would suggest if you are trying to say money use concrete stumps. The concrete alone for the method above will cost a couple of grand.
hello,
the issue is many people have unrealistic time frame and cost of building a home, which affects people if renting or holding costs
many owner-builders chose "difficult" building products, the most important thing is to get the shell up quick smart,
many project homes now adays take alot of time to build as well, even with builders running the show,
even during the 7yr warranty period for an owner-buiulder or builder built home the building-sureveyor is now becoming an integral part of the claim/compensation process if it arises,
some reading:
http://www.feg.com.au/papers/Update%20604.html
thankyou
myla
Personally I think there should be a obligated attendance federal based inspector visit at 3 stages of construction during renovation and new homes.
1. Footings/concrete pour
2. Roof stage prior to plastering
3. Lock up
In the UK inspectors check each stage of the process advising trades and builders what they require. A built in form of quality control.
A check box form/report on a standard range of requirements.
This would prevent a lot of the current issues that go to court ending in tears.
This would prevent a lot of the dodgyness that goes on now.
If a Trade or Builder feels the need for an inspection they call out the inspector.
Its too late when a builder shuts down a company and opens up another or a builder uses another builders ticket of a bloke whos on his death bed with offshore accounts
hi mick i dont expect it to be dead easy just alot of hard work its the technical side thats hard to understand at times.as for owner builders stuffing up if you watch aca youll know that their are heaps of builders out there shafting people by cutting safety corners and not finishing the jobs and alot more then owner builders.if it takes 2-3yrs to finish then its better then renting in the end i have no intention of risking the lives of others to save a few bucks but if i can save a few bucks without compromising safety then we will do it ourselves.:UQuote:
Originally Posted by journeyman Mick
we have that here to inspecters have to come check holes check the frame and then final check for occupancy certificate.if any problems are found at any stage then they have to be fixed before any more building work is underwayQuote:
Originally Posted by autogenous