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I guess it all depends on what council will permit and what an architect can come up with to make them functional dwellings.
You may also want to check out where sewers run etc as quite often on larger blocks that may next to the house or behind the house which could potentially be where you wish to place the duplex, moving these can be a very very expensive procedure and not justifiable for a duplex where as for 10 units it could be.
You may also want to really look at how long until it would be feasible to build a duplex on the block as if you knock down the existing house in the near future you really have just paid for a very expensive block of land.
Lets say the land value of the block you are looking at is 350K (470K-120K which is the improved value of the land being the house) your block has to go up by 120K or 33% to make it worth while. This can be effected some what in your favour if there is an extreme demand for duplex type dwellings.
Do a google image search, go for a drive around the area and see what others have done.
Paint, floors, light fittings and possibly power points. There are the most simple ones without large costs. Also make sure the house is serviceable and presents well on the outside.
I rencently used a small builder for a complete reno of a flooded property, I couldn’t fault his flexibility. You won’t get this with a big builder and if you do get the flexibility you will prob find the price goes up.
I also got a quote off big builder last year for a lowset brick home, all they were interested in was in getting me to contract, very very pushy.
Where you may save yourself 20K – 25K by using a larger builder you may find that the overall finish, quality is not there. They are also not as flexible when it comes to alterations etc.
That 20-25K may even balance out due to the finish.
I would like to think so, adding to the fact qld has been flat for so long plus floods and everyone being very cautious. There are some extremely affordable and lucrative deals about, taking in to account my first sentence I am hoping that this will soon drive prices up as the fear of missing out grips people.
I think when it does eventually happen it will happen quickly.
SEQ has been doing nothing for alot longer than two years and the gold coast is even worse, I have given up trying to predict when seq will improve.
Yes the vacancy rates is around 14%. I had a friend build a 4 bedroom house in Point Cook and it took ages to rent. It ended up renting for 330 per week. It cost him 420 for house and land.
Infrastructure lol what infrastructure, they are building a new train station whoop dee doo. Hopefully they put enough parking there as the other two stations in the area are busting at the seems but West Gate freeway is a nightmare. Cook and Wyndham Vale are relatively nice areas and far better than Weribee,
The capital growth isn’t the greatest either.
Pending what your budget is I would be looking for a unit, maybe try Kingsville, Altona, Yarraville etc.
The problem with Laverton is that there are brand new houses in Point Cook just down the road that are renting for low 300’s due to an over supply, I believe the vacancy rate is up around 14% so definitely no shortage.
Laverton is hmm hmm well a warzone, its is the first place I seen rented houses with the plaques of the real estate that manages the property on the fence so they can be contacted if there are any problems. There are pretty much no shops or culture. The houses are old some even look like sheds. The only thing it really has going for it is access to the highway and the train line. I think one day it will be a good suburb to invest and become something simliar to Glenroy but I believe the Point Cook development will have to stop and people then look to renovate the Laverton post war homes thus making it a decent place to live and in turn capital growth.
There is a current article in the latest smart property magazine going through subdivisions and cost comparision between just subdividing and subdividedevelop. Alot of it may come down to money or time as to why people choose to subdivide. I am subdividing in QLD at the moment and will assess whether I pursue developing once the subdivision is complete. It has allowed me more flexibility and gives me more time until the QLD market hopefully picks up.
I have thought about for some time now. People who do not put up an accurate description miss out on knowledgeable site members by passing their post. It would take ages to go through all the posts like “help me” etc.
Wouldn’t it be similar to that of a development though being what the project will be worth on completion?
Lulu,
Try suncorp. I had a house fully flooded last year. 150K damage. It was relatively straight forward. Im not going to say there weren’t any hiccups but it was a new experience to everyone.They reinsured the property and others I have in the area for around 800 each. I have also made loss of rent claims in the past and they have been pretty good to deal with.
I had a small 3 bedroom home which was flooded last year, I had all the asbestos walls and fixtures (kitchen) removed, house pressure washed internally for 5500. Professionally done. Alot of other quotes were around the same price.
I can pass on the details. House was in QLD.
So under the NCCP if you told the banks that you were pregnant that would take that into account but if you told them in 9 months you are getting a promotion and a 50K pay rise they would laugh in your face.
You are probably suppose to but what they don’t know……. You could also win the lotto between now and then or decide you want to go back to work at six weeks
Investing is like one big game of chess!!
Anybody, or is everyone to wrapped up with the USA these days?
Which Council?
I think it depends on the style of the house. If it is a rental I wouldn’t bother.
I quite like it pending the style.
