Does anyone out there who subdivides have an idea of what percentage I should allow when considering a subdivision on a residential property. I realise this will differ from property to property but what do you use as a guide as opposed to a be all end all due didligence?
I’m afraid there is no easy formula for this one as it depends on so many issues. How many lots in subdivision ? Water, sewerage, phone, electricity, Site conditions, Noise, Surveyor, Engineer and Council Fees etc…not to mention the interest !!
If this is your first time at subdivision may I suggest you try your hand at a small 1 into 2 first, to learn the process before tackling a major project. Or perhaps you could do a Joint Venture with a Developer.Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”Try ring a few surveyors that work in the area and ask if that could give you a rough esitmation into the costs. Other wise just ring you local council and ask for them to send you out some information on the approximate costs of subdivision in the area.
Good luckChirs
To subdivide a normal block into two wasn’t that expensive. You can do it yourself & save solicitors fees (& faster) A lot of the expense you have to go through anyway to build. Approx $2000 for surveyor originally, approx $1800 to water for another line, meter etc. $1000 to bring gas across road as it wasn’t on our side.
To subdivide, a further $1600 to surveyor for linen plan for titles office, $400 to electricity $625 to titles office, $500 to bank to make title avail to titles office For Melb ring 8636 2010 Titles Office for leaflet “Your guide to lodging a plan of subdivision & Your guide to subdivison Act fees”
Procedure is:
1. Have surveyor sub division plan done
2. Have titles office paperwork sent to you
3. Have paperwork approved from council and take
4. Back to surveyor to have transparencies etc.
5. Add titles office paperwork appicable to register a plan
6.Surveyors & titles office paperwork to bank, they sign & authorise title release to titles office
6 Everything to titles office
I wanted it through in a hurry so on councils behalf I rang all the relevant authorities as they have to state they have no objections to you subdividing, these are your local
Water, (both City West, my provider and Melb Water, which I think own the pipes) Electricity, phone, Gas.
I pushed mine through in about 3 months by keeping at itFern
Thank for your input Amanda and Chris.
Fern could you clear up step 6. Who is bank? Excuse the ignorance please.
Originally posted by fernfurn:6.Surveyors & titles office paperwork to bank, they sign & authorise title release to titles office
Thanks.
The bank who owns you (& your mortgage or building society, etc.) unless you’re filthy rich and own the property outright. (LOL) They charge $400/600 just to release it for viewing and courier it over to the titles office (who have the original anyway) There is a huge amount of info on the Somersoft Forums website at the moment about the whole subdivision thing, I answered thinking they meant just the subdivision process but of course the big picture involves new stormwater systems etc. etc. Take a look there
Fern
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