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 Worth to build own house ?, rather than buy super expensive house ?

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lck*G9
post Aug 24 2012, 06:16 PM

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QUOTE(jchong @ Aug 24 2012, 06:06 PM)
Best way to estimate construction cost is by the built up area x construction cost psf. Typical 22x75 link house is 2000-2100 ft2. Check the cost with contractor, but yes definitely under half mil.
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if more than half a mil i rather go buy a new one from developer..
jchong
post Aug 24 2012, 06:34 PM

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QUOTE(lck*G9 @ Aug 24 2012, 06:16 PM)
if more than half a mil i rather go buy a new one from developer..
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Realistically speaking, for terrace houses there is not much choice except buy from developer. U don't see vacant terrace lots for sale do u?
woopypooky
post Aug 24 2012, 07:31 PM

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QUOTE(jchong @ Aug 24 2012, 01:43 PM)
How do you get figure of 30-40% cheaper?
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cos i work with housing developer. doh.gif

remember, when u buy 400k house, the developer practically earns 100k. thats is in malaysia.

This post has been edited by woopypooky: Aug 24 2012, 07:32 PM
azarimy
post Aug 24 2012, 10:12 PM

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in my experience, the material+construction cost for a typical 2-storey terrace house around 22x70 would be around RM100-150k. of course, this is not inclusive of professional consultancy fees, and whatever that's outside ur land plot (like roads leading to ur site and stuff like that), and the land cost itself.

architect's fees alone is about 7-11% of project cost. the other consultants are lesser than that. site location and accessibility is also a major contribution to the higher cost. a site with good access to mainroad and highways, not too far from city centers, situated on a hill overlooking city skyline would be very expensive. building a bungalow in a city lot is almost unheard of right now because of the expensive land value, it's better to build a multiple housing complex to maximize profit.

bottom line is, assuming u already have the land with the basic infrastructures connected to it, the building itself should cost around RM100k-150k.
jchong
post Aug 24 2012, 10:16 PM

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QUOTE(woopypooky @ Aug 24 2012, 07:31 PM)
cos i work with housing developer. doh.gif

remember, when u buy 400k house, the developer practically earns 100k. thats is in malaysia.
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But don't forget that developer gets economies of scale because things are done on project basis. If a private owner builds his own house the costs will be higher.
jchong
post Aug 24 2012, 10:22 PM

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QUOTE(azarimy @ Aug 24 2012, 10:12 PM)
in my experience, the material+construction cost for a typical 2-storey terrace house around 22x70 would be around RM100-150k.

Nowadays and especially in KL I reckon it's closer to the 150k mark. Your estimate is based on project basis or individual basis?

And as you said there is a lot of other costs involved like professional fees, infrastructure, etc.

This post has been edited by jchong: Aug 24 2012, 10:25 PM
darium
post Aug 24 2012, 10:25 PM

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On the hindsight, I've seen people buying a perfectly built house, then demolishing it
then rebuilding it again.

Some people have way too much money. shakehead.gif

This post has been edited by darium: Aug 24 2012, 10:40 PM
azarimy
post Aug 24 2012, 10:33 PM

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QUOTE(jchong @ Aug 24 2012, 02:22 PM)
Nowadays and especially in KL I reckon it's closer to the 150k mark. Your estimate is based on project basis or individual basis?

And as you said there is a lot of other costs involved like professional fees, infrastructure, etc.
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only limited to material and construction on an individual basis. in my experience, the cost dont differ that much whether u're in KL, JB or kuching, unless u go for materials like glu-lam timbers where there are only like a handful of factories in malaysia. prefab materials should lower the cost further, but deliveries to hard to get sites like rural sabah might increase the cost.

what makes it more expensive is land cost. and sometimes it's not even the actual cost of the land, but the predicted price AFTER the project gets built.
RedBishop
post Aug 25 2012, 11:00 AM

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if you're from Penang, you're going to have hard time facing LGE
jchong
post Aug 25 2012, 01:32 PM

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QUOTE(RedBishop @ Aug 25 2012, 11:00 AM)
if you're from Penang, you're going to have hard time facing LGE
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What has LGE got to do with the topic?
lck*G9
post Aug 25 2012, 01:50 PM

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QUOTE(jchong @ Aug 24 2012, 06:34 PM)
Realistically speaking, for terrace houses there is not much choice except buy from developer. U don't see vacant terrace lots for sale do u?
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realistically speaking, there is no place where anyone can custom design terrace house.
i already wanted to inform TS about this actually.
azarimy
post Aug 26 2012, 12:52 AM

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QUOTE(lck*G9 @ Aug 25 2012, 05:50 AM)
realistically speaking, there is no place where anyone can custom design terrace house.
i already wanted to inform TS about this actually.
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well for discussion sake, lets say he really wants a terrace house design on an empty, bungalow lot biggrin.gif.

in reality, of course u wont find any such lots in the cities. but outside, it's quite common. just go to any suburban areas and u will find one or two lots which are either entirely vacant, or was in extremely poor state (destroyed by fire, left for too long etc). of course, for it to be left there would mean the neighbourhood itself might not be preferable to live in, but still, it exists.

or we could talk about empty lots to be divided into multiple terrace lots. this often happens in under developed areas like kampungs. u could build several terrace houses, rent/sell a few of them and live one for u. i believe a single row of 2 storey houses should be more than enough to cover your own terrace house wink.gif. but i havent seen this happen recently. dulu selalu laa
mabaw
post Aug 26 2012, 11:15 AM

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cheaper but more headaches
personally i prefer buying old abandon then renovate it to my liking
easier to get housing loan and not much hussle
nightzstar
post Aug 26 2012, 11:03 PM

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QUOTE(jchong @ Aug 24 2012, 06:07 PM)
You might be able to arrange for construction financing from the bank. It will be similar to normal housing loan.
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really got such thing? any bank or what is the requirements? thanks notworthy.gif
jchong
post Aug 27 2012, 07:36 AM

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QUOTE(nightzstar @ Aug 26 2012, 11:03 PM)
really got such thing? any bank or what is the requirements? thanks  notworthy.gif
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Do go and ask the banks. They will want to see your construction contract and land S&P and the usual requirements like your salary, etc.
lck*G9
post Aug 27 2012, 09:44 AM

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QUOTE(azarimy @ Aug 26 2012, 12:52 AM)
well for discussion sake, lets say he really wants a terrace house design on an empty, bungalow lot biggrin.gif.

in reality, of course u wont find any such lots in the cities. but outside, it's quite common. just go to any suburban areas and u will find one or two lots which are either entirely vacant, or was in extremely poor state (destroyed by fire, left for too long etc). of course, for it to be left there would mean the neighbourhood itself might not be preferable to live in, but still, it exists.

or we could talk about empty lots to be divided into multiple terrace lots. this often happens in under developed areas like kampungs. u could build several terrace houses, rent/sell a few of them and live one for u. i believe a single row of 2 storey houses should be more than enough to cover your own terrace house wink.gif. but i havent seen this happen recently. dulu selalu laa
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actually in puchong area still can build semi-d on your own
jchong
post Aug 27 2012, 10:24 AM

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QUOTE(lck*G9 @ Aug 27 2012, 09:44 AM)
actually in puchong area still can build semi-d on your own
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One semi-d or a pair?
lck*G9
post Aug 27 2012, 10:26 AM

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QUOTE(jchong @ Aug 27 2012, 10:24 AM)
One semi-d or a pair?
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one
certain part of puchong only...
jchong
post Aug 27 2012, 11:21 AM

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QUOTE(lck*G9 @ Aug 27 2012, 10:26 AM)
one
certain part of puchong only...
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That's interesting. I wonder if the local authority will allow you to build one semi-d only.

Usually semi-d built in a pair to be symmetrical. If you just build one, next time the other side will have some challenges to tie into the one semi-d.
lck*G9
post Aug 27 2012, 11:24 AM

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QUOTE(jchong @ Aug 27 2012, 11:21 AM)
That's interesting. I wonder if the local authority will allow you to build one semi-d only.

Usually semi-d built in a pair to be symmetrical. If you just build one, next time the other side will have some challenges to tie into the one semi-d.
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Interesting right?
How I know?
My parents are living in one.
That place there has all kinds of weird semi-d designs that doesn't 'link' at all...


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