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    Thread: Building a new home


    1. #21
      pegg's Avatar

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      yep …. will have too :o)

      nice bit of land near me !
      Hi guys ! its Paul, Lisa, Jack and Boo !

    2. #22
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      Quote Originally Posted by pegg View Post
      Can i just ask a little question how much deposit is needed to secure land - is there any help to buy land ? anyone ? ;o)
      It is a regular mortgage. Normally you will need 10% deposit and if it is less than 20% you will need to take mortgage insurance which can be very expensive.
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    3. #23
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      Quote Originally Posted by verystormy View Post
      It is a regular mortgage. Normally you will need 10% deposit and if it is less than 20% you will need to take mortgage insurance which can be very expensive.
      cheers stormy
      Hi guys ! its Paul, Lisa, Jack and Boo !

    4. #24
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      If you decide to buy land / build, the two biggest issues to think about are covenants and ground conditions.

      Many suburbs will have restrictive covenants that cover a range of things. For example, we visited an area called Timbers Edge where many of the houses are timber and we loved them, but few suburbs allow them. Our suburb also had covenants that require owners to build the party wall from limestone blocks. So, instead of being able to put up a colour bond fence down the garden for a matter of hundreds it cost 20k to put up two limestone walls.

      The other important thing are the ground conditions. Builders allow an amount for preparing the ground with an assumption that there are no issues. If there are issues you will need to come up with the cash on top of your mortgage. So, our block had some large stones in the sand. These had to be dug out at a cost of several thousand. But, because we had spoken to the neighbours we had been warned of it and had a geotechnical inspection prior to buying so we could budget for it.
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    5. #25
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      again cheers stormy ! and enjoy Scotland - I spent many a childhood holiday there in a remote village , Absolutly stunning scenary … Enjoy :o)
      Hi guys ! its Paul, Lisa, Jack and Boo !

     

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