To buy or to build?

Headaches2021

Hi guys,

We've wrestling with the buy or build dilemma! 🙈 .... We're availing of the Help to Buy and are looking at new builds in the Longford/Westmeath area, although the pickings are slim at the minute. There is one new development coming up, 4 bed semi, 153 square metres for €335,000.

Just wondering if we would build for as cheap ....there are a couple of sites around the 25,000-30,000 mark. I know building costs seem to have went through the roof at the moment but would anyone be able to advise a rough estimate per square metre for a turnkey finish, A rated and reasonably high spec ...... I know it's a bit like how long is a piece of string but even an estimate would be appreciated to see if it's even an idea worth pursuing.

Thanks in advance guys

Stan27

Prob get a bigger house, or the house you designed if you build.
We decided to build as we hoped to get better value for money, but with the prices now, we are lost with what to do.

ec18

Really unless you are going to do direct labour and probably do a large amount of work yourself economically it's better to buy rather than build in purely economical terms.

Unless you have a free site the decision to build is one made with heart that it's something you really want to do because you have the house you want in your head.

We're in the latter where we know it's going to cost us more to build and we're willing for that to get the house design and layout we want. It's a 4 - 5 year plan though to go from finding a site to move in.

silverwood

You’d want to be budgeting €2,300 - €2,500/sqm. You’ll have plenty on here telling you otherwise but in my experience, that’s the real rate. The costs are frightening at the moment. I’m sure you could do it cheaper if you self build or have family involved in the trade.

ECO_Mental

The two posts above are two of the most real posts about self building I have read in a while...its expensive at the moment, although if you are planning to build in Longford/Westmeath the costs laid out by Silverwood seem expensive for the area. (but I don't live there)

I am currently building just outside cork city and I am at €2400/sqrm

That includes everything..move in price with my bags. Including kitchen, flooring etc etc basically a turn key and including professional fees and planning fees etc I also tendered about 18 months ago at this stage

El Gato De Negocios

We are planning a build currently in Longford and the current price for the finished house ie incl kitchen, appliances etc is around €375,000. House will be approx 2,750 square foot.

hometruths

Is there a rule of thumb to calculate relative build cost of second storey?

i.e if you're building a 200 sqm house on a 100 sqm footprint, is that cheaper per sq m that 200 sqm bungalow?

El Gato De Negocios

schmittel wrote: »

Is there a rule of thumb to calculate relative build cost of second storey?

i.e if you're building a 200 sqm house on a 100 sqm footprint, is that cheaper per sq m that 200 sqm bungalow?

From what I've been told by some builders I've spoken to, the bungalow would be more expensive. More foundations, more timber in roof, felt, insulation, slates, more windows etc.

hometruths

El Gato De Negocios wrote: »

From what I've been told by some builders I've spoken to, the bungalow would be more expensive. More foundations, more timber in roof, felt, insulation, slates, more windows etc.

Yep, that kind of makes sense, just wonder is there way of ballpark guesstimating the difference.

wildflower

We have planning for 3300 Sq ft house on our own site and the quotes we have gotten range from 460k to 660k- from basic to high spec and that was the quotes from 2-3 months ago- prob more now. Absolutely mad money so we have decided to renovate our house instead- also expensive at 200k but we can bide our time a bit. Bungalow is more expensive- we have been advised to extend our house up instead of out to save money