MrSleepy

Tks clear explanation on the construction loan. Ok so maybe 420psf might be a better gauge. And typically it takes 2 years to complete a rebuild (from what I read in the other threads but not sure how updated are those) ? Oh yea and in your view, do you expect construction cost to normalise back to lower psf or do you reckon this is the new norm and can only go up from here? Same for land price? Just like to hear your view

so assuming 400psf x 3100sqft = 1.24m should be sufficient as a budget. usually this would include all material cost (flooring, cabinetries, etc)? personally, do you recommend the archi path or design and build and any good names to recommend since I assume you have been done this path? is the repayment on the construction loan (before top) also similar to a housing loan? eg. mthly repayment = interest (5% eg.) + principal over 25 yrs? thanks vm for taking the time to reply. it's been helpful!

Hey Snoozee thanks for the reply very insightful indeed. So I think the issue I’m having is trying to budget the rebuild cost in todays inflated market. Is 1.2M really sufficient? Does this include ID, materials and getting the various permits? The budgeting for land purchase is rather clear as you pointed out but how do I get a rebuild estimate? Will the archi or builder entertain me? Im likely looking to rebuild a inter terrace maybe 2.5 storey, land about 1800.

I would be interested to know if you managed to get an estimate. Also looking to buy and rebuild but hesitant as I’m unsure of what total cost is today (seems like prices has gone up significantly?) also any recommendations on archi or builder would be appreciated. Not sure where to start sourcing, feeling like a small fish in big ocean.