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Thread ID: 80350	2007-06-20 02:11:00	Cost of House Building in NZ	Winston001 (3612)	PC World Chat

Post ID	Timestamp	Content	User
560822	2007-06-21 01:31:00	Thanks Ken for all your information . Very interesting . I think one of the reasons our cost of materials is high is that we are a small skinny country with Cook Strait in the middle . In Oz there are large populations up and down the east coast with plenty of roads and not much in the way of mountains . Just like the USA, it is easy to move stuff around and with 20 million people, there are lots of buyers . Much easier to set up a really big wallboard plant near Sydney and truck to Townsville if you want to .	Winston001 (3612)
560823	2007-06-21 01:43:00	Nah. My brother charges around $800 per conveyancing job. That's a pretty minimal fraction of the cost of buying land or a house. But what do they actually do for that $800. Most buyers can do it themselves as most titles are relatively simple and takes the lawyer very little time. I would only use one for a difficult title.	robbyp (2751)
560824	2007-06-21 01:45:00	But what do they actually do for that $800. Most buyers can do it themselves as most titles are relatively simple and takes the lawyer very little time. I would only use one for a difficult title. Do your own dentistry too? Diagnose that uncomfortable pain in your abdomen? Good luck......	Winston001 (3612)
560825	2007-06-21 03:02:00	It's not the house .. the cost of building a house haven't change dramatically it's the land value ... You can still build a house between $190K - $250K + Land ... Now if the land were like 5-6 years ago . you can pay $60K - $80K for a 700-800M2 section. Now ... you will be lucky to get a 500M2 section for $180K ...	SKT174 (1319)
560826	2007-06-21 04:25:00	Do your own dentistry too? Diagnose that uncomfortable pain in your abdomen? Good luck...... If you are looking at cutting cost, which your post implies, then DIYing as much as you can is the best solution. There are many books and other advice out there that helps people do it themselves, and it is hardly rocket science.	rogerp (6864)
560827	2007-06-21 04:46:00	It's not the house . . the cost of building a house haven't change dramatically it's the land value . . . You can still build a house between $190K - $250K + Land . . . Now if the land were like 5-6 years ago . you can pay $60K - $80K for a 700-800M2 section . Now . . . you will be lucky to get a 500M2 section for $180K . . . Chap bought section next door for 100k 12 months ago,just sold for 200k, and there lies the problem . All very well for me,butonly in respect to keeping up with silly price rise at no effort on part of original purchaser .	Cicero (40)
560828	2007-06-21 05:31:00	Chap bought section next door for 100k 12 months ago,just sold for 200k, and there lies the problem. All very well for me,butonly in respect to keeping up with silly price rise at no effort on part of original purchaser. When looking at house price growth over a very long time, they will only raise in line with inflation. There will be ups and downs in the market, currently we have had 7 years of strong growth, but it won't last forever. I believe there was study, that looked at house prices over 200 years, and although there was periods of strong growth, on average the growth was linear with inflation.	rogerp (6864)
560829	2007-06-21 05:38:00	When looking at house price growth over a very long time, they will only raise in line with inflation. There will be ups and downs in the market, currently we have had 7 years of strong growth, but it won't last forever. I believe there was study, that looked at house prices over 200 years, and although there was periods of strong growth, on average the growth was linear with inflation. Nice to have an economist on board.	Cicero (40)
560830	2007-06-21 06:02:00	If you are looking at cutting cost, which your post implies, then DIYing as much as you can is the best solution. There are many books and other advice out there that helps people do it themselves, and it is hardly rocket science. I do understand. Unfortunately trying to DIY and save costs on the contractual and title issues of buying or selling a house is to be pennywise and pound foolish. The place to cut costs is quite simply in the price of the property. Pay $1000 - $3000 less and you are really ahead. If you are selling, tell the agent that you won't pay a commission of more than 2.5%, or you'll sell privately. Real estate commission is commonly $10,000 +GST these days.	Winston001 (3612)
560831	2007-06-21 11:22:00	I heartily agree on remarks concerning the avarice of Real Estate Agents, it is demeaning to real professions to call Real Estate Salespersons professionals. To quote my Auckland Solicitor " If I showed the same disregard for the financial welfare of my clients as many real estate salesmen do, not only would I be debarred, but also possibly jailed. There commissions are too high, they frequently forget who is paying them and run with the foxes and the hounds" However they do not necessarily hype up property prices, except for possibly falsely raising a vendors expectations if the agent is desperate for a listing. The stepped commission structure can work against a vendor - once the property value breaks $300K, the commission drops to 2.5% on sale price over that limit - The selling agent gets less than 50% of the total commission - a quick sale with minimal effort can be very beneficial for the agent - for example a quick easy sale at $50K less than the optimal price means the vendor looses $50K, and the agent drops about $500 in commission but doesn't have to do any real work to get a quick easy sale - and then onto the next one. Real estate agents merely feed on the property market frenzy, they don't drive it. They are meant to be working for the vendor but all too many are actually only working for their own benefit, and that is without taking into account some of the unscrupulous and unethical practices that occur inthe industry.	KenESmith (6287)
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