I like to think of myself as someone who is simple but sophisticated, dull but interesting, mysterious yet predictable in many ways. There are only a handful of things which interest me; cars, houses, furnishing and exotic places. That is why I decided to tag along with my friends, and learn how exactly to acquire a landed property here.
This is what I've gathered so far, to buy a house, you must first acquire a piece of land, and the land must be approve by the government to build a house, whether it's single story or double story... it all depends on what the government approval says. Next, you must pay the booking fees to book the land, which estimates to about AUD1,000. An average cost for a land to build a house varies, depending on location, size of land, and the contents of soil as well. On average, they cost about AUD150,000 - AUD200,000 in the suburbs of Brisbane.
You can start looking for your builders once you've found an ideal piece of land to build a home. The builders can only start building when the finance approval goes through for that piece of land you've purchased which can take awhile. You can choose any builder of your choice, it's always good to choose one of the major building companies who has lots of experiences with houses, eg Plantation Homes, Metricon, Aus Homes, Orbit Homes, and so on.....
I saw this display home at Plantation homes and I instantly fell in love with it. The double story house was exceptional and spacious indefinitely. Just to build and extra story, one can choke up an extra AUD50,000 to AUD 80,000. An average double story house could go up to AUD500,000 to AUD600,000 including land. The single story houses average up to AUD350,000-AUD450,000. All of the above houses mentioned are 3-4 bedroom houses.
I dared myself to dream of a place of my own, have my own home theatre set, to share my life with someone in a home such as the one displayed at North Lakes was certainly something I've want, I thought to myself.
Hence I've set my goal for the next 2 years. I need to save up at least AUD100,000 in 2 years. By then I would expect the interest rate to rise. The bank interest rate is at the moment 7.0%, where else some of those home companies affiliated with banks are willing to offer 5.5-6.5% interest rate to home buyers. The housing developers have gave incentives to help boost property sales by offering different amenities for the houses such as.... a free driveway into the garage, fencing, air cond, stainless steal window tilts, and many more for free, all of it which packaged it up can cost up to AUD 50,000.
It was very interesting going into different housing displays, and awe at the artistic furnishing or repertoire of the house. At the moment, I would need to try to save up more by cutting cost on expenses. So I guess I need to start saving to secure a better future for myself. :D