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oc1
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April 7, 2013 - 1:01 am
Hi Joe
With a project like this I would focus on finding someone that is competent to arrange your designs and follow through with your Town Planning application before you differentiate between an architect and draftsman. Both can do the job.
Cheers
Oscar
oc1
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April 7, 2013 - 12:55 am
chu wrote:
hi guys,
long term reader, first time poster!
any way looking at developing duplexes in melbourne's south east, around moorabin, bentleigh east
in your experiences, what would 2 storey, 4 bed, 2 bathroom duplex cost? what features really add value? any recommended builders
sorry my questions are so vague!
cheers
Very vague
Eastern suburbs with a good solid finish – allow at least $1500-1600 per metre.
Good finishes that add value are, for example, stone is your kitchen, parquetry flooring, glass splashback in your kitchen and some nice external architectural features such as alucobond.
Cheers Oscar
oc1
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April 6, 2013 - 10:11 pm
Another big factor in determining your costs will be your drainage design and stormwater requirements. These are dictated by the water authority and council. A good engineer will help you.
For the driveway (coloured) allow $65 per metre and a couple of grand for a new crossover if you need one.
Dont' forget to add landscaping, fencing and the cost to provide a car-space for the original dwelling (if it doesn't have one already).
Let us know how you go.
Oscar
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April 1, 2013 - 10:17 pm
You would want to make sure your pockets run a lot deeper than $40k for a development, especially considering it will be your first. If you have equity elsewhere and can access it, well, then it's a different story.
Oscar
oc1
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March 27, 2013 - 8:43 am
Update.
Plumber came in on Monday and completed the underground work, including the stormwater. Also got the water tapping done. Concreter was in Tuesday. All was going well with the pre-slab work until we hit rock. Then more rock. It became an issue when larger rocks were located where the rebate was going to be. So today we had the excavator in breaking all that rock. Oh well, part of the job.
The Easter break will pause things but we should have the slab completed this time next week, weather permitting.
Oscar
oc1
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March 27, 2013 - 7:06 am
Hi Stephen
I'll probably do a sell some/keep some strategy with this. The margins are good where if i sell 2 and use the sales proceeds to reduce the debt, the remaining unit will have very little debt. It will be cashflow positive by a mile and i'll have good equity to draw upon when needed.
Cheers Oscar
oc1
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March 26, 2013 - 3:42 am
Hi Chris
I’d love to put the plans up but I can’t manage to do it
Anyone care to help?
Cheers Oscar
oc1
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March 26, 2013 - 3:38 am
You can sell anything and have a "subject to" clause. I have sold quite a few where i sold units off the plan subject to obtaining the planning permits/DA and subdivision.
Oscar
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March 25, 2013 - 7:08 am
You'd be better off finding a local builder, one that builds in the western or northern suburbs. Price is generally cheaper. A good mate of mine building his own home in the eastern suburbs did this and he saved quite a bit of money on the build as he got "western suburb prices"
Oscar
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March 25, 2013 - 7:04 am
Bnd
I have completed a few in Reservoir and starting another in a few months. If you are on top of things you can be done in about 12 months. 18 months is way to long. So, planning permit 4 months, building permit 3 months, build 5 months.
You generally do the subdivision during the build. So not much time is wasted. The properties will be valued higher as well.
Cheers Oscar
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March 24, 2013 - 12:10 pm
Hi Hayden
I've done it often enough that I get the numbers right with a simple spreadsheet I use. I always make sure each development has a lot of fat and allow a 5% buffer to be safe. Sorry, no magic formula.
Oscar
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March 18, 2013 - 9:53 am
You do realise one of the guys, Chris, shot himself a few days ago? The above comments become a bit tasteless now don't you think?
Oscar
oc1
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March 13, 2013 - 9:50 pm
wilko1 wrote:
what structure did you do the development in ? company, trust, personal name ?
Hi Wilko
I use a company/trust structure. It works best for me.I find it gives more flexibility. e.g. distribution of profits, CGT discount at times etc
Cheers
Oscar
oc1
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March 13, 2013 - 8:19 am
alfrescodining wrote:
Hi OC
I'd be interested to see how the 5 units were fit on to a 980sqm site!
Do you have the plans online anywhere?
Here you go. All single level.
oc1
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March 12, 2013 - 11:35 am
Hi DaOne, shoot me a PM and i'll see if i can help you.
Cheers
Oscar
oc1
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March 9, 2013 - 1:38 am
Great work Eddie. Thanks for sharing.
oc1
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March 7, 2013 - 12:04 pm
jmsrachel wrote:
Hi Oscar,
I contacted the building commission a few weeks ago and they told me that a DBL can build for either clients or yourself as long as you use registered trades. When i was speaking to HIA they told me yes this is true but if you are building spec homes a building surveyor doesn't check if the trades used are registered (apart from plumbing and electrical), they are more interested if it's built to code.
I think you mean DBM registration then. Only a DBU or DBM can build. DBL's can only perform the trade they are registered for. Check the link below
http://www.buildingcommission.com.au/resources/documents/Domestic_Builder_Sep_26_051.pdf
oc1
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March 7, 2013 - 4:15 am
jmsrachel wrote:
Thanks Oscar. I'm in the process of becoming a registered building practitioner (DBL) and thinking of doing something similar as you and build a couple spec homes. Seeing that I won't have a DBU would I still be able to build under my DBL and do hands on work? The guys at HIA say that's fine as long as I own the land. For me to obtain a DBU is a bit of waste as i don't intend to build for clients, just spec homes.
Hi Joe,
There are 3 classifications in Victoria. DBU, DBM and DBL. The first 2 allow you to build, either for yourself or clients. The last (DBL) registers you as a "registered trade". For example, one of my concrete guys i use for my builds is now going for his DBL. If he passes the interview he can do work freely and for anyone. It doesn't, however, allow him to build – not for him self nor any clients. He can build as an owner builder just like anyone else (one every 18 months), the only difference being he can complete all the concrete work. Maybe call the Building Commission (or check out their website) rather than HIA, but as far as i know that is the way it works.
oc1
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March 7, 2013 - 2:02 am
jmsrachel wrote:
Oscar, this is great stuff! Did you do any hands on work or just manage?
Hi Joe
I managed the whole process from obtaining plans and permits (DA) through to the subdivision and construction. I helped out the landscape guys at the very end. That was the extent to my "hands-on involvement".
The process was fairly straight forward. Only took about 5 months to build. Having said that I have done this quite a few times and it gets quicker.
oc1
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March 6, 2013 - 11:22 pm
Hi Shahin
Yes construction was $402,000.This included all site costs (very minimal as it was a flat vacant block) and all drainage. Finish is in the standard range. Each unit is around the 65-70m2 mark, two with garages and three without and all were single level.
Contributions are based on land value (around 5%) so this only came to a little over $5,000. Another $3000 to the water authority. I believe you pay an arm and a leg in NSW, Victoria is still ok in that respect.
Cheers
Oscar