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Activities for this year:
1. Waiting on stamped plans from council (hopefully in a week or two). This planning permit took us almost two years. wheeew.
2. Get subdivision underway.
3. Hopefully building is finished by end of the year.
4. Network with developers, and find a mentor (anyone?)Cheers,
RickyI finally got hold of our builder after two weeks of chasing him, and he is going to organize application for this.
Plan of subdivision is usually done by the land surveyor. But besides that, most council won't allow you to subdivide until you have a planning permit first. This is to make sure that you will actually build on the subdivided land. And it is better to do that anyway because what's the use of subdividing it if you don't have a planning permit so you can build.
This thread has been so interesting and informative. Thanks guys for sharing your views to us newbies.
That's what I reckon. Since they are often used by our builder, i think they will do fine.
Does anyone have any idea what water or electricity services cost when doing a 2-lot subdivision? And any other costs to be expected when doing a subdivision?
I got a quote from ALine Surveying for $2900 which is $600 more than JR Edwards, the surveyor recommended by our Builder. So I am going with JR Edwards.
I was told it would cost about 3-4.5K.
Dwolfe, I think I would go for ALine. They were actually the ones who did the survey for the planning permit. And i think their fee is a bit cheaper too. I will post the total cost for the subdivision once its done.
Also, I got a quote for a landscape plan for $594 GST inc. Is the cost about that much?
Thanks all for the posts. It is an interesting read.
As for me, being in my early 30s, I want to retire from a 9-5 job as soon as I am financially able. My aim is to achieve that by age 40.
Life is too short and we might as well enjoy it with what matters most.Thanks DWolfe for the encouragement. At least on the positive side, there is another thing i learned from this. It has been a learning experience and i am still climbing up the learning curve.
Update on Planning Permit:
We got the planning permit but no stamped plans because the permit has several conditions. This means that the floors plans should be modified according to the conditions before council endorses and stamps it. This also means we need to pay the draftsman to do the modifications. This is surely another obstacle again putting us off for several weeks.
At the moment I feel disappointed with the townplanner we hired to do the applications for us. I am not sure if I am entitled to feel this way towards them. I mean it is their job to have anticipated that there would be conditions to the planning permit. That's why we paid for a professional to do the application in our behalf. They would have asked council if there would be any conditions to plans if they were to issue the planning permit. Or is this just a revenue-raising scheme. I don't want to jump to conclusions by at the moment i feel the townplanner let us down and we are paying for it dearly.
Thanks Andrew.
I will update every now and then on the development of this project.
Just want to update everyone of the status of the planning permit as discussed above.
I got a call from the townplanner yesterday informing me that there was a last minute appeal from the objector, and that it would be by March next year the earliest that VCAT can call for a hearing on the case. I was really shocked and frustrated on hearing the news; I felt i was crushed or something. But what can I do; we have to abide by the rules.
But earlier this afternoon I received a call again from the townplanner telling me that VCAT had actually stuffed up with information; the appeal from the objector was for another application. Our application was actually good to go. YEHEY. What a feeling of relief; sweet feeling I must say.
Next on the agenda is subdivision… wish us luck.
It's exciting indeed.
We're planning to hold it long term, and use the equity to buy/build a new one.
I am positive it will work out in our favor.
Thanks guys.
Thanks Kate. Yes, i was informed that the builder would be doing that part.
Hi,
I am interested to know more about this investment in tax lien. would love to meet with anyone (attention 'itsandrew' and 'katchw') to discuss further.
Or if anyone can discuss more about this on this post, that would be much appreciated.
Thanks.
It's hard to offer a tip or two when I don't have any IP to start. But hopefully my first IP will commence soon.
But thanks for the wonderful posts offered on this thread; very educational.I use to hear his audio clips a couple of years back. From what i can remember, his strategy is buy and hold; he believes in positive cashflow and fixed interest rates.
That's great suggestion JacM. Thanks.
Darebin council website is not as good as other council website. It doesn't even say anything about subdividing.
I will ring them anyway to get infoproperty is located in Reservoir VIC.
Christian, thanks for your reply on my post.
I tried to ring council and manage to talk to someone. He said they normally entertain application for subdivision only if we got planning approval to build, which is good because this is almost completed.Can anyone please recommend a good surveyor.
