Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

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

views
     
jchong
post Aug 24 2012, 01:41 PM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(sk1l @ Aug 24 2012, 09:13 AM)
Anyone here ever thought of that ?? What would the cost of building own house be vs buying super expensive house ?

im thinking :

land cost
design house cost
need to get some approvals from local municipal council
hire contractors to build it

what would the cost difference be like ? build own house vs buy those already made ones.

hope ppl can contribute their experience here.


I hope you realize that your question is very open and it's hard for people to give you an answer.

In general building your own house will have some cost saving compared to buying ready made one. This is because when you buy a ready made house the developer's profit is factored in already.

Main thing in building your own house is location. Can you buy an empty plot in your desired location? The land cost can vary a lot depending on location. Some people buy a land with a house on it and demolish the existing old house.

The design and approvals can be handled by the architect. Usually the architect fee will be a small % of the construction cost.

Construction cost can also vary a lot depending on what materials you want to use.
jchong
post Aug 24 2012, 01:43 PM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(woopypooky @ Aug 24 2012, 01:29 PM)
it will be like 30%-40% cheaper than ready made house. assuming you hire your own architect, engineer,contractor. Downside is that you need to have cash to pay them within 1-2 years time. that means cash of 70% of your house value to pay them.
*
How do you get figure of 30-40% cheaper?
jchong
post Aug 24 2012, 06:00 PM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(sk1l @ Aug 24 2012, 02:22 PM)
let us not go too far. assume we are looking at a standard double storey house 22x75

I don't think I've heard anyone building a double storey terrace house from scratch. Firstly, very rarely you see anybody sell a vacant lot 22x75. Normally vacant land is larger and for bungalow.

QUOTE
it doesn't look logical that it was due to material cost.

It's not only material cost. There is also land cost, especially for new land acquisition.
jchong
post Aug 24 2012, 06:06 PM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(lck*G9 @ Aug 24 2012, 05:28 PM)
my take will be less than half mil excluding the land.
*
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.
jchong
post Aug 24 2012, 06:07 PM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(yeezai @ Aug 24 2012, 05:41 PM)
building own house requires cash ...while buying house u will owe bank...but building are more cheaper
*
You might be able to arrange for construction financing from the bank. It will be similar to normal housing loan.
jchong
post Aug 24 2012, 06:34 PM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(lck*G9 @ Aug 24 2012, 06:16 PM)
if more than half a mil i rather go buy a new one from developer..
*
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?
jchong
post Aug 24 2012, 10:16 PM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
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.
*
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

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
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
jchong
post Aug 25 2012, 01:32 PM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(RedBishop @ Aug 25 2012, 11:00 AM)
if you're from Penang, you're going to have hard time facing LGE
*
What has LGE got to do with the topic?
jchong
post Aug 27 2012, 07:36 AM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(nightzstar @ Aug 26 2012, 11:03 PM)
really got such thing? any bank or what is the requirements? thanks  notworthy.gif
*
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.
jchong
post Aug 27 2012, 10:24 AM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(lck*G9 @ Aug 27 2012, 09:44 AM)
actually in puchong area still can build semi-d on your own
*
One semi-d or a pair?
jchong
post Aug 27 2012, 11:21 AM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(lck*G9 @ Aug 27 2012, 10:26 AM)
one
certain part of puchong only...
*
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.
jchong
post Aug 27 2012, 11:34 AM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(lck*G9 @ Aug 27 2012, 11:24 AM)
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...
*
Which part of Puchong is this? Maybe one day I'll drive by that area to see how it's like.
jchong
post Aug 27 2012, 11:43 AM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(azarimy @ Aug 27 2012, 11:30 AM)
yes, they would. assuming the lot is empty and u've bought it legally, there's nothing that can stop u from building on it.

semi-D doesnt have to be symmetrical. it just has to share one party wall with each other. that's assuming the other house already have a party wall ready to be shared with u.

question is now, i havent seen a single-sided semi-detached house. dunno if it could qualify to be called a semi-detached when it's entirely detached lol.

the advantage of having a semi-detached plot vs bungalow lot is that u dont have setback zone where u have party wall. means u can build right up to ur border.
*
Yeah, the local authority might not stop you but wonder if they will impose any funny conditions when you submit building plan for approval.

Yup the semi-d just has to share one party wall. If the other side not yet built then I suppose you'll build the party wall first and I guess the party wall will have to be finished and painted... hmm... hmm.gif
jchong
post Aug 27 2012, 11:45 AM

****************
*******
Senior Member
5,989 posts

Joined: Nov 2005
QUOTE(lck*G9 @ Aug 27 2012, 11:36 AM)
pusat bandar puchong taman wawasan
i heard one of the neighbor planning to sell for RM2mil.
if you interested i can hook you up
*
Nah, not really looking to buy any semi-d at the moment smile.gif

 

Change to:
| Lo-Fi Version
0.0216sec    1.09    6 queries    GZIP Disabled
Time is now: 19th December 2025 - 08:53 AM