Buy land then build house / house land package / established home

[ISHGoat]

Burgers at a restaurant, buying house same shit.


Either you are assuming I haven't got a clue how to wipe my own ass or you're genuinely concerned and trying to offer help with that concern?...



Who knows. My thread question is simple. I'm wanting to know (from people's own experience) of what combination is best from a first home investment perspective. Nothing more.

from a first home investment perspective, unless your builders are like your direct family members, its always better to just buy a house.

there are way too many unknowns and risks when you buy a land and then build a house yourself.

[DCL]

Burgers at a restaurant, buying house same shit.


Either you are assuming I haven't got a clue how to wipe my own ass or you're genuinely concerned and trying to offer help with that concern?...



Who knows. My thread question is simple. I'm wanting to know (from people's own experience) of what combination is best from a first home investment perspective. Nothing more.

my point to you is that your whole approach should not be as easy and casual as asking around on a message board.

you asked a question about what's the best way to go financially. you should know that simple answer already if you knew what you're doing.

forget spreadsheets right now because i am not even sure if you know what math to calculate on the back of a napkin yet.

if you decide to go with a new house already built, you will always pay a premium to the developer. they're not building a house for you and aiming to break even. they've taken on all the risks and headaches for you, so of course, they're going to charge you more than what it cost them. they operate as a business.

but if you build it yourself, then YOU have to take on all those risks and headaches. the potential upside is that, if you know what you're doing, you might save some money because you have options to build according to your budget range and you don't have to pay a premium to any developer, but the downside is that if you don't know what you're doing and you mess up and let the errors stack up, you swallow all the associated costs or... you go to court with the builder or whoever.

right now, you don't seem to know what you're doing. asking around message board won't help because there's so much that you should know. you really should read some books first to get a better grasp of the entire process.

[poido123]

my point to you is that your whole approach should not be as easy and casual as asking around on a message board.

you asked a question about what's the best way to go financially. you should know that simple answer already if you knew what you're doing.

forget spreadsheets right now because i am not even sure if you know what math to calculate on the back of a napkin yet.

if you decide to go with a new house already built, you will always pay a premium to the developer. they're not building a house for you and aiming to break even. they've taken on all the risks and headaches for you, so of course, they're going to charge you more than what it cost them. they operate as a business.

but if you build it yourself, then YOU have to take on all those risks and headaches. the potential upside is that, if you know what you're doing, you might save some money because you have options to build according to your budget range and you don't have to pay a premium to any developer, but the downside is that if you don't know what you're doing and you mess up and let the errors stack up, you swallow all the associated costs or... you go to court with the builder or whoever.

right now, you don't seem to know what you're doing. asking around message board won't help because there's so much that you should know. you really should read some books first to get a better grasp of the entire process.

Ok good response.


The friend of family is an architect/semi-retired builder. Hes excellent at designing practical, energy efficient houses.


What you're saying here is pretty common knowledge for those with basic property experience/education, but I'm not disagreeing that there is always more to learn.

I think you underrate forums for ideas. It can actually help formulate an idea on what you already know or trigger something that you didn't quite understand or just simply forgot about.

[Clifton]

Well, I need to look more into this, but my first move is going to be to stop renting. To take the $1000 a month I give to a landlord and instead buy a house with a comparable mortgage so that I have that money when I move.

... and then you upgrade to a nicer house when you have your feet under you.

I think that's the normal track.

If you want to take it a step farther and have your third house be a house you build yourself and own the land... more power to you. I know people who have done it. It could be in my own distant future. But for now what you probably wanna do is just save up for a down payment and get an unpretentious "starter home" in a normal-ish neighborhood.

[ISHGoat]

Well, I need to look more into this, but my first move is going to be to stop renting. To take the $1000 a month I give to a landlord and instead buy a house with a comparable mortgage so that I have that money when I move.

... and then you upgrade to a nicer house when you have your feet under you.

I think that's the normal track.

If you want to take it a step farther and have your third house be a house you build yourself and own the land... more power to you. I know people who have done it. It could be in my own distant future. But for now what you probably wanna do is just save up for a down payment and get an unpretentious "starter home" in a normal-ish neighborhood.

yes, you should try to save a downpayment and purchase immediately. typically mortgage + property taxes + maintenence (if condo) is more than rent, but youll be building your own assets instead of helping someone else pay off their mortgage.

if you pay 1000 right now and you want to purchase a place with relatively similar conditions, i.e. size, location, how new it is, etc, be prepared to pay 1500 a month

[poido123]

yes, you should try to save a downpayment and purchase immediately. typically mortgage + property taxes + maintenence (if condo) is more than rent, but youll be building your own assets instead of helping someone else pay off their mortgage.

if you pay 1000 right now and you want to purchase a place with relatively similar conditions, i.e. size, location, how new it is, etc, be prepared to pay 1500 a month

Americans are lucky in that sense. The quality/size of housing you can buy is a lot better than here in Australia and a lot cheaper.

Buying really nice houses in australia in decent towns for 150k is unheard of. America you can.

[Cactus-Sack]

Go for it Trent. Buy as much land as possible, then borrow against it to buy more. I believe in you bruh.

[aj1987]

Americans are lucky in that sense. The quality/size of housing you can buy is a lot better than here in Australia and a lot cheaper.

Buying really nice houses in australia in decent towns for 150k is unheard of. America you can.

Probably in an absolute shithole of a town. You really can't get anything nice in a "decent town" for $150k. Unless you'r definition of nice is a tiny >1000 sqft house.

Going back to the topic, you should definitely buy a house. Don't try to build one unless you are absolutely sure that you have someone who can help you.

Not trying to be a jerk, but is this a serious topic? Weren't you trying to breed dogs to make money just a while ago? And you claimed that you had led than $1k in you bank account..