COSTINGS

These are aprox costings associated with the project.....

Obviously, they are just estimates, and i may have missed the odd thing, and also, the costings are relevant to the Australian market and may alter significantly as to where you are in the world, ........but this is just to give you a general idea of what you can expect

 

TOOLS REQUIRED

 

As found on the 'Tools Required' page

............Unit............................................................................................................................$   cost.......................

 

vehicle (utility)........                                                                                                       ?    ..... 2,000 

concrete mixer........                                                                                                            ......   400

scaffold and laminated planks.......  you will need to find 2nd hand scaffold and planks, or it may cost a considerable amount....maybe up to $3-4,000 which you do not want to pay obviously......they may have to be steel frames (not aluminium) and you do not need to have wheels.....if laminated planks are to expensive, try straight timber, steel or aluminium      ......      ?

welders.........                                                                                                                       ......    500

power tools..........                                                                                                                ...... 1,000

saw bench..........                                                                                                                 ......    200

4 ladders..........                                                                                                                    ......    800

saw horses.........                                                                                                                  ......    300

hose, drum etc.........                                                                                                            ......    100

pegs.........                                                                                                                            ......      50

wheel barrows..........                                                                                                            ......    180

bricklaying..........                                                                                                                  ......     300

gumboots..........                                                                                                                   ......     100

tools various..........                                                                                                               ......     600

                                                                                                                                          equals $6530 ............plus scaffold

                                                                                                                                         (I allowed up to $10,000)

 

APPLICATIONS 

                                                                                                     

As found on 'First steps' page

.............unit.................................................................................................................................$ cost........................

 

property value of course.....to be taken into consideration....whether you are freehold or not

council ...flood and sea level information                                                                             ......      50

surveying...........                                                                                                                   ...... 1,000

house appoval (to build)...........                                                                                             ......   250

purchasing Pty Ltd...........                                                                                                      ......   300

Builder...building complete in 3 yrs (offer 2 monthly 30min check-ups at $400 per session )..... 9,000     (and $3,000 final payout)

plumber...plumbing should be finished in 2-3 yrs 2 monthly 30 min checkup $300 session)...... 7,000      ( and final payout $2500)

electrician...........similar setup for electrician (but he will come back for pool and spa)        ...... 9,000

 ( There may well be other expenses...relating to the Builder, Plumber and Electrician and others...that i am unaware of these days) 

floor sanders.........                                                                                                                ........1,500

insurance..........                                                                                                                     ...... 3,000

applications   telsta...........

                      water...........

                      sewerage...........

                      electrical...........

                      gas ..........                                                                                                         ......   500

waterboard...swimming pool and fences                                                                                ......   250

council levy..........                                                                                                                   ......   500

curb damage levy.........                                                                                                          ......   500

crossover ..refundable..........                                                                                                  ...... 2,000

                                                                                                                                     equals    $34,850

PRELIMINARIES

 

As found on 'Stage 1' page

............unit....................................................................................................................................$ cost........................

 

water connection...........                                                                                                          ......   500

temporary power...........                                                                                                           ......1,200

fence..........                                                                                                                              ......    80

shed and loo...........                                                                                                                 ......1,500

bins..........                                                                                                                                ......   750

engineers penometer calculations...........                                                                                ......   800

                                                                                                                                           equals  4,830

 

comes to aprox $45,000 plus scaffold .......................................Probably will cost you around $50-55,000 before materials and labourer (possibly a little more....depending where you are)

 

I estimate that a $400,000+ loan will possibly cover everything...which leaves you aprox $350,000 to cover other costs ...(if you find you are falling short $.......remember that when you get to that stage, they should value your house at double what you borrowed, so then you now have equity to borrow a little more if you need it......i bought a significant amoumt of materials from a second hand yard, which reduced my cost significanly

I googled an interest free $400,000 loan and at the current interest rate, the repayments were $1,447 a month......$361.75 pr wk.... very doable,....... so i had no advantage 26 yrs ago.....by comparison, things were no better then, than they are today, here in Australia

The finished project (depending on your locality) would be currently valued (locally here) at more than triple the price.......but then, thats  up to you.

This project is really designed, as an adventure.....the beauty of a project like this, is that you can keep going back to the mistake you made, until you get it right......and there's no one on your back telling you off....and believe me, when you get it right, you become professional very quick......because its your house, and you want it looking great.......so you make sure you do a good job .You find that you will not do anything 'on the cheap'

..........and remember this.......if you are starting out for the first time (ie bricklaying for instance....youv'e never done it before) start learning in an inconspicuous area and leave the prominant areas (front entrance) til last (if possible)

Anyway, not one trade could fault my house when i had finished.......in fact when we sold the house (we had an open house day) and there were so many people (that when it started to rain), it was standing room only throughout the entire house

 

2-3 years house completion..... mentioned above

Remember that the 5 years was to do the complete house and landscaping.....

We were living in the house after 3 years as the house was virtualy completed and at that stage was quite livable, in fact you can complete one side if you like and can be living in it much quicker, if you want.....in less than 18months

I finished the last 2 1/2 years without a labourer, so there is that option also, if you are running short of money

 

But remember, its a good idea to go into this situation with a little buffer fund saved up.....something like 5, 10 or $20,000  tucked away for a rainy day......in another account........taken, and put away from your house loan if need be...and handled by someone other than yourself...ie wife ............rid yourself of that temptation!!