Originally posted by crj:I agree there’s a lot to consider. Obviously increased borrowing capacity is one and no doubt the possibility of being able to free one flat from a mortgage so you can use another lender when making further investments. My comments are looking at the things to be considered in whether the strata title is feasible. There might even be a better profit to be made if a more extensive renovation could lift the flats to a higher level and the work done is simmply to get all the approvals for a strata development and then onsell to a developer
Thanks for your responses. There is a lot to consider about stratering and we have actually spoken to a council rep. We were told that there would be quite a large rise in rates if we were to strata and that has held us back. Do you know if you can get the development application approved, but not take it to the next step, ie actually stratering, until ready to do so (which may not be for a year or 2)?
CRJ – I wonder if you can go into more detail in relation to your above quote on ‘lifting the flats to a higher level …… then onsell to a developer’.
Again, thanks for your help.
]
]
]
