Hi, I have decided to branch out and take a risk and take on my first subdivision. I am looking to buy an older house on a large block in rural QLD, subdivide the block and build a new house out the back. I am just after any advice anyone has got to offer. Firstly – am I likely to come up with any issues with banks lending money for me to complete the subdivision, or can I assume that because they will lend me $$ for a house and land package that they would lend me the same to organise a builder to build out back? What type of costs are involved or things I should be aware of? How long can the whole process take? What obstacles might I come across with getting a subdivision approved?
In the long term I plan to hold the property and rent it out, as well as renting out the house at the front (to be renovated at a later date). Thank you, JaniceHi Janice,
Always a good idea to contact the council in the area you intend to buy and find out the requirements before you start putting in offers.
Is it a subdivision you are doing or a build as well. I'm a bit confused by your post. A simple subdivision won't cost too much at all.A great little resource came my way today that may be of some help. It's a 16 page pdf doc called "7 Step Guide To Subdividing Your Property" by Peter Bozinoski. You get it for free at his website : http://www.projectfacilitator.com.au
Ian
http://www.theblockblog.com
Free Property Investment Info, Tools & Resources For Property Investorssapphire101 wrote:Hi Janice,Always a good idea to contact the council in the area you intend to buy and find out the requirements before you start putting in offers.
Is it a subdivision you are doing or a build as well. I'm a bit confused by your post. A simple subdivision won't cost too much at all.A great little resource came my way today that may be of some help. It's a 16 page pdf doc called "7 Step Guide To Subdividing Your Property" by Peter Bozinoski. You get it for free at his website : http://www.projectfacilitator.com.au
Ian
http://www.theblockblog.com
Free Property Investment Info, Tools & Resources For Property InvestorsThanks Ian. It is a subdivision and build. I will definately look up that guide you mentioned. What size land would I generally be looking at minimum to build an extra house out the back or woudl this vary between councils? Thanks for your help.
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