build or buy - GM Forum - Buick, Cadillac, Chev, Olds, GMC & Pontiac chat

Lounge For casual talk about things unrelated to General Motors. In other words, off-topic stuff. And anything else that does not fit Section Description.

Thread Tools Search this Thread
Old 07-17-2003, 04:47 PM   #1
Senior Member
True Car Nut
Thread Starter
Join Date: May 2003
Location: Grand Rapids, Mi
Posts: 3,244
Thanks: 0
Thanked 0 Times in 0 Posts
L27Buick is on a distinguished road
Default build or buy

me and my soon to be wife are trying to figure out if building or buying a house is cheaper? and whats a good down payment price were thinking like 30-40 grand ?
L27Buick is offline   Reply With Quote
Old 07-17-2003, 04:53 PM   #2
Senior Member
Expert Gearhead
Join Date: Dec 2002
Location: Mississauga, Ontario
Posts: 20,892
Thanks: 0
Thanked 1 Time in 1 Post
Jim W is on a distinguished road

Cool...I can help you out here..

Depends on what you are looking for

1. Resale factors

Age, condition of structure, property size, neighbourhood, taxes, resale value, wear and tear on the home and maintenance. Also real estate commisions. What is your budget? What are the mortgage rates. $30 000+ is an excellent deposit. Best thing to do is to try and make 25% of the total cost.

2. Custom Build

Lot size, lot cost, design costs, construction and material costs. Usually the design, and construction is way cheaper then resale. However depending on where you live, property may be expensive. What is your program (wish list for the house). If you buy a new home being built by a developer then payments are broken up over the time of construction, plus you have creative control over the "fit and finish" or the home.

Good luck Jim!!
Jim W is offline   Reply With Quote
Old 07-17-2003, 05:11 PM   #3
Senior Member
Certified GM nut
Join Date: Jul 2003
Location: Ab,ca
Posts: 1,963
Thanks: 0
Thanked 0 Times in 0 Posts
1992 trofeo is on a distinguished road
Default yea

intrest rates are really low these days, so you may save 80grand in intrest but most homes have gone up in price just about that much, I bought my house 7 years ago and I payed 110 (lol they where asking 140kcan but they wanted to sell. fast), I couldnt resist getting it, bar downstairs. 5 bedroom, 3/4 acre lot, no back alley, 100ft drive way, nice so I can leave my garage door open without worring about someone taking my dirtbike (who would weaste time running up a driveway that long?)

I got my house appreased at 250kcan this march, well im thinking about getting a acredge, but that means working for a few years. lol, I like working half years but there isnt a whole lot of pipeline welding going on till after sept.
1992 trofeo is offline   Reply With Quote
Old 07-18-2003, 02:28 AM   #4
Senior Member
True Car Nut
Join Date: May 2002
Posts: 2,936
Thanks: 0
Thanked 0 Times in 0 Posts
sse1990 is on a distinguished road

Well I am looking at the same thing. Just happens that in this area the prices on housing are low and I could not build something for the same price as buying. But What I do like about building is that you can make the house very energy effecient and everything is new and can pre wires for network, speakers in every room, build it the way you want it the first time.

But on the other hand if I was going to try and buy a house back in Ottawa, forget it, the price of housing is crazy.

I would suggest looking at the housing in your area, and also find a house plan that you like and get an estimate on building it ( usually the lumber store can give you a general idea of how much for labour and material ) , then look at lots in your area, do the math and go from there.
sse1990 is offline   Reply With Quote

Related Topics
Thread Thread Starter Forum Replies Last Post
To build up or not to build up. Bonnie99 Performance, Brainstorming & Tuning 4 02-08-2009 03:33 PM
Where to buy to build a PC Shadow Lounge 19 09-28-2006 03:23 PM
89 formula bird to buy or not to buy jachin Lounge 11 02-12-2005 03:05 PM
To Buy or not To Buy? slashfan10 1987-1991 8 05-28-2004 04:30 PM
Never buy a Pontiac...only buy Fords (RANT) Buggie General GM Chat 17 08-20-2003 08:23 PM

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT -4. The time now is 04:56 PM.

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to and affiliated sites.