Bullion started the topic Accounting advice on selling subdivided blocks. in the forum Legal & Accounting 10 years, 7 months ago
Hi Guys,
Hoping for some tax advice, We have a 2000m2 block purchased back in 2005 for 77k. Earlier this year we were fortunate enough to sell the rear 1000m2 of the block for 130k to a neighbor who wanted to increase the size of his block which has now been settled and subsequently left us with a 1/4 acre. We have long though about relocating…[Read more]
Bullion replied to the topic Vacant Block Dilemma in the forum Help Needed! 16 years, 6 months ago
RichLee wrote:
We paid $113,500 for our 1 acre block and built a 4br + study home, we have also put up a large tradeys shed and a large undercover entertaining area. Total cost to do all this $216,500 – so $330,000 in total. It is now on the market for $460,000. With the market being a but up and down at the moment due to interest rates it may…[Read more]Bullion replied to the topic Vacant Block Dilemma in the forum kum yin lau wrote:
Hi, 16 years, 6 months agokum yin lau wrote:
Hi, what's the end value after building?Cost of land = $75000 +Building = $160000Total cost = $235000Can you sell for $430000? or more? Any less means it's silly to build.The other more interesting/exciting idea is to build two. Does your zoning allow 1000m2 blocks?Then you have:Cost of land = $75000Cost of construction =…[Read more]
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