I got some news yesterday that made me feel pretty good about building a house.
Across the road from our yet-to-be-completed house is another yet-to-be-completed house that is at about the same stage ours is at. We have met the people that are building the house, the guy used to work up at the HBI Plant in Port Hedland as a sparkie before it was shutdown. Well they are off to Melbourne for a new job now and will be putting their house on the market once it is finished.
It is a Ross North home, 4 bedrooms, 2 bathroom, games, semi-home-theatre, big kitchen and drive through garage, all on approx. 730 sqm. The price they are asking is $410,000... That is without any floor coverings, blinds or painting. And possibly even no landscaping out the front.
We definitely think we got in on the home building game at the right time. Although we don't plan on selling for at least 5-8 years, it is very nice to know that after only 'spending' (someone elses money) $280K, we may have over $100K in equity in just 12 months. Will make it easy come refinancing time in a year or two to package in a large patio.