What's the cheapest way to get a home on a piece of land in your opinion or experience?
I have vacant land that would work well as a rental. (But rent in the area is $315week).
I was looking at snazzy transportable builds, but apparently banks don't like loaning against them.
I lived in a old house once which had been moved from the city to the country, and it was gorgeous and I assume cost effective. Is this still a thing (regional town WA)?
I don't really want to build a new project build as I don't think it's cost effective.
I have rented previously and want to be a good landlord and not a slumlord (so a safe secure and well setup little pad).
Once a transportable house is permanently fixed to the footings it is no longer considered transportable right? Banks don't like non-fixed. Talk to them.
You can still get older weatherboard homes for free or really cheap and have them transported to your own land.
The last quote I got was around $80k including all new piers to site, cutting the home in half for transport and reattaching back on-site, transport and all approvals for the move.
You’ll obviously need to get council approval for the actual dwelling and service connections etc. This could range from around $50k - $100k depending on the site.
I relocated a gorgeous Californian Bungalow. I could have bought new for the amount it ended up costing me but it was extensively renovated to use as a luxury short term rental. I wouldn’t have it any other way though as new wouldn’t feel like mine does If you’re not making too many changes and can owner build then much more realistic. I had to use builder finance (7.7%) as banks won’t loan unless you have heaps of equity. Was paying that for much longer than expected due to COVID delays…
Do you own your block outright? If so, banks will be much more willing to loan for a kit home. That said, it’s still a construction so unless you are owner builder with a lot of equity to cover, they still won’t loan.
Easiest way in that case, if you do own you’re block outright, is to also have enough money to pay for 60% the value of the kit home. Order it, pay for that much, and the bank will usually loan the remaining amount because you’ve paid for more than 50% already.
Obviously this is general advice and admittedly pre covid advice too. Things may have changed plus it also depends on the individual. I found excellent knowledge through the main people at Imagine Kit Homes and Cedarspan Kit Homes. Talk to them and you might have some luck.
If you’re not making too many changes and can owner build then much more realistic. I had to use builder finance (7.7%) as banks won’t loan unless you have heaps of equity. Was paying that for much longer than expected due to COVID delays…