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Will there ever be a better time to build your house?

  • 24-05-2012 10:09pm
    #1
    nino1
    Registered Users, Registered Users 2 Posts: 829 ✭✭✭


    as the title says, with the construction industry on its knees will it ever be cheaper to build your own house?


Comments

  • #2
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    Site prices haven't fallen in line with housing. However if you already have your site, labour cost and availability is very favourable now.
    Materials costs are very high, and availability of finance is poor.

    So in all I would say, if you have a site, have finance available, it could be a good time to build.


  • #3
    the_syco
    Registered Users, Registered Users 2 Posts: 37,316 ✭✭✭✭the_syco


    nino1 wrote: »
    will it ever be cheaper to build your own house?
    Just don't pay the person in one bulk; pay in instalments, maybe based on X built, to ensure that if the builder goes bust and/or gets lazy, they won't habe too much of your money.


  • #4
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,633 ✭✭✭✭Marcusm


    Depends on the area. In some places over suPply is such that existing houses will be for sale for less than the aggregate cost of a site and construction.


  • #5
    Mr. Loverman
    Closed Accounts Posts: 4,001 ✭✭✭Mr. Loverman


    nino1 wrote: »
    Will there ever be a better time to build your house?

    Impossible question to answer...


  • #6
    sunnysoutheast
    Registered Users, Registered Users 2 Posts: 2,072 ✭✭✭sunnysoutheast


    StillWaters wrote: »
    Site prices haven't fallen in line with housing. However if you already have your site, labour cost and availability is very favourable now.
    Materials costs are very high, and availability of finance is poor.

    So in all I would say, if you have a site, have finance available, it could be a good time to build.

    ....agree with the above and building regs are getting ever stricter with BER etc. reducing the gap to pre-built houses.

    SSE


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  • #7
    true
    Banned (with Prison Access) Posts: 1,325 ✭✭✭true


    Marcusm wrote: »
    Depends on the area. In some places over suPply is such that existing houses will be for sale for less than the aggregate cost of a site and construction.

    +1. And prices will also certainly be lower in a year or two when the government takes further money out of the economy, so arguably in a year or two will be a cheaper time to build than now.


  • #8
    engineermike
    Users Awaiting Email Confirmation Posts: 280 ✭✭engineermike


    Marcusm wrote: »
    Depends on the area. In some places over suPply is such that existing houses will be for sale for less than the aggregate cost of a site and construction.

    I'd tend to agree with this, of course your own build is tailored to your specification and exact needs, However
    - land costs have not fallen at same rate as housing
    - Labour costs are down some what, however quality established and reputable building firms still have work on there books , and their rates have only fallen slightly
    - Material costs have increased with higher vat and transportation costs now applied to everything you purchase
    - Stricter regulations from everything BER, Euro codes, EPA guidelines are coming on stream
    - Professional costs, architects, and engineers, Quantity surveyors are down somewhat.

    I#d personally see value in depreciated housing stock - get something that meets your needs and location - and modify the house with extension or removal of internal wall or something of that type, upgrade with some renewable energy features,
    And this would most likely offer the best value atm.
    mike f:)


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