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A Newly Built Home or an Existing House? continue…
By arlene | September 4, 2008
Existing house
The buyer of an older unit has to accept the layout of the building and can only change it with alterations and additions at current prices. Such alterations will be limited by the existing layout and position of the house on the stand.
No guarantee in structural defects exists, while the stove, geyser and other appliances carry no guarantee and has to be tested by the new owners. (Open the hot water taps when inspecting the house and test all the functions of the stove if it is supplied with the house. Check the pool and pool pump for defects.)
Transfer duties are to be paid on the full purchase price of an existing home.
Effective and expensive burglar protection would normally come as part of the house.
The garden is usually established with existing lawns, paths, pergolas, etc. which represents a significant financial benefit.
The rooms in an older home would generally be more spacious than in houses being built today. If it’s space you’re after, an older home offers a lot of value.
An existing house certainly is the preference of many people, especially if you share Jerome K Jerome’s point of view:
“I want a house that has got over all its troubles; I don’t want to spend the rest of my life bringing up a young, inexperienced house“.
How to go about building your own home
There are two main routes to follow when building your own home. You could either appoint a building contractor or use a developer who offers a more comprehensive building package.
When using a contractor, you will have to find an architect to design the house, an engineer who is accredited by the NHBRC, a project manager who oversees the building process and does daily inspections, as well as a contractor responsible for the building.
If you buy property through a developer, they usually offer a more inclusive building package, including architectural design and structural engineering. The developer will be able to inform you of the specifications laid down by the NHBRC. The price per square metre could include the construction price, the costs for architects, structural engineers, surveyor, quantity surveyor and the project manager.
Be sure to remember and individually specify things such as: electrical installation, paintwork and finishes, plumbing and sanitary installation. Professional fees need to be budgeted for individually as well. Some of these are inspections by the NHBRC and project manager, surveyor and quantity surveyor, monthly progress reports, as well as architects and engineers.
Budget for extras such as municipal approval and an occupation certificate, boundary walls and paving, as well as establishing a garden. When you decide to build, ask the contractor or developer to explain all the costs of the entire project clearly.
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