Hi,
I’ve got inspired by people on the forum building units on their backyard to increase rental yields. I haven’t got in touch with any builders to get quotes yet, and I thought I might ask if anyone can give me a rough estimate of how much to budget for to build a block of 4-5 basic 2-bedroom units in Brisbane? i realise this is like asking how long is a piece of string, but I just want to get an idea to get started. Also, what zoning is generally required to build blocks of units?
Grateful for any input.
CheersHoBe
Hi HoBe,
Not from Brisbane area but Sydney therefore can’t directly answer your question, but the following is a guide for your question answer.
1. Take time out to visit your local council which your land is located. Ask questions, any questions, zoning, regulations, development application cost etc. I find most council are helpful.
2. Make phone calls to architects, town planner, surveyor, builders etc to get cost estimates.
3. Buy a book to guide you, suggest “Australian Residential Property Development” or even Martin Ayles CD’s from PI.com, it worked for me.
4. Re building costs, do a google search (Australian) for key words, again it worked for me.
Hope this helps.
GeoffB
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