Tuesday, August 21, 2012

Buy or Build?

Hi to all those who are considering whether to buy or to build!

We started this process over a year ago when we decided to tender on a post war home in east Brisbane, given that we were living near the bay and wanted to move closer to the city to cut down on commuting time.

Post War Home on 630 m2
Location was important to us as we intended either selling or demolishing the existing home and building our new home in this well sought after area and wanted it to be a long term investment for us.

After being successful with the tender, we tried everything to sell this quaint home but to no avail as it had asbestos and a tiled roof, both of which did not bode well with relocation and re-stumping.

Unfortunately, our only option was to demolish the home, which we completed in July 2011.

Our relationship with Metricon started soon thereafter and we commenced investigating designs that could fit on a 16m wide block. We chose Metricon because of their quality and style of display homes and competitive pricing when comparing finishes and inclusions. We considered a number of designs both low and highset and almost settled on the Addison design, which we viewed down in Melbourne. We progressed to the Burleigh and finally chose the Cedar design with a number of changes, which I will go through in a later post.  In terms of "Buy or Build?", in our case, we've looked at a number of existing homes in east Brisbane and are still currently convinced that building with our layout and selected finishes is a better investment for us than buying something existing, even in the current market.

Thanks

Steve & Allyson