Advise on 1st Property Purchase

I once had a girl sit on my lap and ask me what I wanted to talk about. I said how about the first thing that pops up!

So thats why you lost the Santa photo gig at your local shopping centre? :D

Re the query about the roof tiles being porous.... this one gets thrown up all the time and its silly. Yes concrete is porous but the nature of roof tiles is that water runs off them and into gutters. It does not pool for sufficient periods to allow water to wick through to the underside of the tile. Cracked tiles and ridge capping are far more important to repair than roof reglazing.
 
DaveMSydney said:
So thats why you lost the Santa photo gig at your local shopping centre?
:D

It's a guesstimate. I've seen a few of them come back and most of the time they grossly underestimate it.

I see.. who should I contact for a better estimate? Builder? quantity surveyor? or would an insurance calculator would actually be sufficient (it gave me $230K-ish mark)?
 
:D



I see.. who should I contact for a better estimate? Builder? quantity surveyor? or would an insurance calculator would actually be sufficient (it gave me $230K-ish mark)?

You can estimate it yourself. Measure the internal area and multiply it by the cost per sqm it will take to build it. For a crap house it would probably cost $600 per sqm. For a medium one probably $1,500 per sqm. High end would be at least $2,000-2,500 per sqm. Then add a bit more for buffer. There you go.

The house I just bought for myself had a replacement value of $450,000 on the valuation report, but I insured it for $600,000 because I know you couldn't build that house for $450,000.
 
You can estimate it yourself. Measure the internal area and multiply it by the cost per sqm it will take to build it. For a crap house it would probably cost $600 per sqm. For a medium one probably $1,500 per sqm. High end would be at least $2,000-2,500 per sqm. Then add a bit more for buffer. There you go.

The house I just bought for myself had a replacement value of $450,000 on the valuation report, but I insured it for $600,000 because I know you couldn't build that house for $450,000.

Thanks Aaron, $150,000 sounds about right then. The house is 80m2 + 4m2 outside and 18m2 garage so with medium build ~ $153,000 or $204,000 for $2000 per m2

DaveMSydney said:
Re the query about the roof tiles being porous.... this one gets thrown up all the time and its silly. Yes concrete is porous but the nature of roof tiles is that water runs off them and into gutters. It does not pool for sufficient periods to allow water to wick through to the underside of the tile. Cracked tiles and ridge capping are far more important to repair than roof reglazing.

Will note this. Thank you Dave
 
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