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If you wander down to the local council and ask to speak to a town planner they will give you a 10 minute consultation for free over the counter. They will soon tell you what you can do with your property. If you can’t have 2 seperate dwellings (which is most likely) then you will at least be able to build in as required but you will need an internal staircase. You can always lock the door. You may need to charge a higher rent if there is only 1 meter box.They may not be concerned with what it is you build downstairs so long as the appaerance from the road is not changed.
Good luck.There are expenses you can claim on a rental property that you can’t claim on a PPOR i.e.tax on interest, depreciation, & expenses. So paying rent yourself & renting out (letting) your own home can be a good thing to do if you don’t mind living in a place that is not your own. You can download the relevant items to claim on from the ATO. (or see your accountant) I prefer to read it myself just to make sure I am managing things properly. I have an electronic copy if you need one. Just send me a PM. As for buying CF+ in and around Brisbane you’d be hard pushed to find unless you had a huge deposit.It is more likely to be -ve geared against your income. You would still get ahead quicker by renting it out and claimimg expenses and renting yourself providing you are not living in a mansion.It means that both the rent and some of your income can pay of the loan.
“I am involved in the medical profession and I can garatee you that I would not just go to anyone who has got a medical degrre if it was my health on the line. I would go to the best in that particular area wether it be a neuro surgeon or a hand surgeon or why not a reumatologist compared to a neurologist. My point being, don’t be blinded by a degree that does not necessarily guarantee their expertice in the area you need advice”
I absolutely agree with Jonus. I have had mistakes made by both my solicitor and accountant over searches and tax returns. Even though they are both qualified & experienced in their fields their knowledge is broad and my needs are specific. It doesn’t hurt to consult the hard core resources yourself before signing off to accept their work. At the end of the day a qualification meand you know where to find the answers, it doesn’t necessarily mean you made the effort to find them in every instance.
It depends what you are looking for, but it is one of the few areas left in Brisbane where you can buy a house less than 10 years old for under $300,000. I bought in Boronia Heights 5 years ago for $105,000 and sold last week for $240,000. Just around the corner Devine homes is selling houses off the plan starting at $300,000. Surely that will strengthen the sale prices a bit further down the track.
Every project is different depending on the outcome of the feasibility. i.e add up your costs for the land, analyse the market to ascertain what you could sell it for to find out the possible profit. Be sure to include holding costs against the time it will take to sell. Then do the same again only this time include construction costs & construction time. Compare the two profit amounts and decide if the extra work of construction is worth the additional profit – if there is any. You could also check to see if it is worth holding onto a property when considering the rental yield.
Yes I would agree the drawings are expensive. I have been looking at the same senario for myself and in so doing talked to 2 builders of architect homes and local real estate sales people about possible sales prices. The possible sales price well outweighed the design cost. I was also advised that in a low market while middle priced houses are a dime a dozen & hard to sell there will always be people buying at the upper end.
Good luck. The design concept sounds exciting.
Look up kitset homes on google and add $20,000 – 30,000 for the build price then add headworks. i.e. sewer, water connections, roads then landscaping.
Try http://www.prd.com.au then go into research then into general research. Then enter the State and suburb to get a suburb report.
You can also get suburb reports off rpdata.com.au but the information looks as if it pretty much comes from PRD anyway. Good Luck.
Tigerlilly
