Building and Downsizing to Retirement

hello all,
time to start planning to downsize for retirement.
we plan to build the house in our property (northwest melbourne) that is presently being rented. it will be a knockdown and build scenario.

i would be grateful to get some thoughts/feedback with regards to the following:
1. kit homes
2. modular homes
3. steel frame or wood frames

Comments

  • How old are you and your partner.

  • I was also interested in looking into pre-fabricated and modular homes VS the traditional route of building a house, as I am intending to knock down and build, there are a number of pros and cons. I found this info pretty interesting to consider The Pros and Cons of Prefabricated Homes

  • if you can afford to knock down rebuild, dont build a crappy kit/ modular type on it, build a decent home out of Timber/ brick etc, & slide into retirement with less maintenance worries in a comfortable/ good value house that has some resale which will set up your family ( if applicable) and your next steps (respectfully)

    Ive built twice in similar area & can recommend builders/ trades if ur keen PM me.

  • Unless you are really strapped for cash, prefab what you pay for is what you get.

    If it is a decent size block 600sqm+ you might want to sub divide, palm off the front with planning permission and build on the back something small but decent and enjoy the quiet life.

    Take my advice with a grain of salt as I don't know what your real situation is.

  • Sell the property, buy a vacant block, and build.

    You don't knock down a revenue generating asset for a lifestyle cottage that is likely to have below average resale. That's financially shooting yourself in both feet.

    I have seen all manner of pricing for prefabs and modular and am unconvinced that it is any more cost effective than using a volume builder.

  • sell the property, tenant and all and buy a retirement villa

  • Assuming you don't need finance? You may struggle to find a bank that will finance a kit home or modular home.