Hello Folks,
Need some help with this.
I'm wishing to build a small unit in my backyard to reduce my mortgage. I have spoken to few architects/ draftsman and been given mixed views about it (some said they have also discussed the matter with council on my behalf).
My proposal may require more then just simple drafting skills so experience handling in complex town planning application is essential.
Can anyone please suggest me some good architects who kind of guarantee the planning permit in Whitehorse Council area?
Thanks
Hi,
I don't know an architect or draftsman that will guarantee being able to sub divide land and build. The blocks in the city of Whitehorse are generally pretty large. Council will take P.O.S (private open space), carparking, side setback etc. into account.
Depending drastically on your block (size, shape and easement location) and what you are trying to get on the block you might need approx 250-300 m2.
Good luck!!
Thanks Shannon_t.
I must say this is a lengthy process and a lot to learn along the way.
Sounds like you are a buildeing designer as well. Do you work around where I am?i don't know of any architects for your project, but am interested to know why building a small unit will help to reduce your mortgage?
how will it do that?sorry for my ignorance- thanks
Do you mean like a granny flat?
Shouldn't be that complicated. If it is just for rental subsidy, perhaps a pre-fabricated or off-the-plan granny flat would suffice.
Shop around I found some for 30k + install and contributions (~25k), as opposed to the mobs sellilng them 'cheap' at 80k install.
mattsta – I'll be using unused land (non income producing) and my real investment will be building & development cost. The end price of this new dwelling will be perhaps 3 times of my investment and therefore any profits will be used to reduce the current mortgage. And I'll continue living in my current house.
NHG – I want to subdivide & sell so granny flats may not be a solution but I agree that they would have been a great solution if I just wanted some rental income.
Hi Anandd,
I'm interested in finding out the numbers in your project. How much will it cost & what rental can you get? How will it reduce your mortgage and by how much? I have a property coach from RESULTS Mentoring and that's what i reckon you need before you get an architect! A coach can help you research the numbers to make sure what you want to do will actually help reduce the mortgage (instead of cost more than you recoup in rent) and can help you work through the town planning process. I've found them incredibly helpful in all of the property decisions I've made and they massively reduce the risk in doing a project like you are…. and you'll be certain of the numbers & your anticipated profit before you start.
You might even realise you can repeat the process over and over again and make more money!!
Check out http://www.resultsmentoring.com if you're interested in finding out more. They're in Mont Albert which is pretty close to you.rbugno wrote:Hi Anandd,
I'm interested in finding out the numbers in your project. How much will it cost & what rental can you get? How will it reduce your mortgage and by how much? I have a property coach from RESULTS Mentoring and that's what i reckon you need before you get an architect! A coach can help you research the numbers to make sure what you want to do will actually help reduce the mortgage (instead of cost more than you recoup in rent) and can help you work through the town planning process. I've found them incredibly helpful in all of the property decisions I've made and they massively reduce the risk in doing a project like you are…. and you'll be certain of the numbers & your anticipated profit before you start.
You might even realise you can repeat the process over and over again and make more money!!
Check out http://www.resultsmentoring.com if you're interested in finding out more. They're in Mont Albert which is pretty close to you.Are you from Results Mentoring by any chance? That was quite a first post!!
Seriously, I doubt you need a mentor- this type of project is not that difficult. It would just involve talking to council, or maybe getting a planning/development consultant on board. there is a guy on here who posts quite a bit who is from Melbourne- I think his company name is Design Hub or something like that.
Also this guy posts quite a bit and sounds like he really knows what he is talking about when it comes to subdivisions so I am sure he could help you out:
Ashley Stacey – Director / Senior Surveyor
Subdivision Services | m. 0400531138 | e. [email protected]
http://www.staceysurveying.com.au | Montrose, Victoria | 7 daysCheers,
LukeThanks Guys. I'm more or so looking to subdivide, not renting the new dwelling.
I can do sums based on my learning in the subdivision process and several years experience in the finance industry. Infact I can also help people based on my learnings and experience.
This is not about financial viability of the project but about how to get it through the council.
I hope this makes sense.
Cheers
Hi- Stacey Surveying would be the guys to call then, they sound like they really know what they are talking about when it comes to subdivicions. Just so you know, I do not know they guy but I am on these forums all of the time so I have read quite a few of Ashleys posts.
Cheers,
LukeHi Luke and Ananad
Yeh I see where you're coming from…. and yes, I am a Results member. I reckon they're great! I'm doing a 26 unit development in Surrey Hills which I couldn't have done without their coaching assistance. I get that Ananad is experienced, (& perhaps more so than I first thought!) but I'll still spruik for RESULTS coz they have helped my step up my investing from a 'I thought I knew what I was doing' investor with several properties to my name, to one who has now both bought overseas and is doing an apartment development. Couldn't have done it without them!rbugno – <moderator: delete personal comment>. I would buy an effective accountant/ advissor with my money then spending on this kind of people. Again, this is my personal opinion.
Having worked in the banking industry in the past, I can assure you that I haven't met any successful property investor/ developer who was working with the help of this type of mentors. In addition to good business accuman, all of them had a good team of accountants (tax focus) and lawyers.
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