[grrr]
I had been doing a lot of research on the internet, well, may be there’s too much numbers in my head, I am really confused.
1. Building Approvals in the area / and or seeing developments:
If it turned our a particular area has large approvals, how would I know it’s good or bad? It means developers had been seeing a demand in the area, however, it could also mean there would be supply more than demands when they finished. So what does that tell me? So…large number means good or bad? small number also could mean good when the supply is not much though!2. Subdividing:
Lets say I saw a house for sale, and say I looked at it and wanting to subdivide it into 2 lots, sell the land, put the capital into the house, etc…
My question is: HOW would I know whether it can be done? i.e. that particular land can be approved to be subdivided? Or is it possible that I could just ring up the local council and ask wether that particular address can be approved? If they won’t let me, what’s the point buying it then realise I can’t subdivide it?[stitch]Hi Skyh,
Can’t give you much help with your first question, even though you could use the existing building approvals to learn what is being built (can usually buy a list of all approvals and what type of building they regard from the city council). Then you can see what is missing.Regarding your second question about subdivisions, the city council is definately the place to call first. You can never know for sure until you submitt an application, but all city councils I have spokn to are extremely helpful and can tell you if other lots in the area has been subdivided and if there would be any obvious problems with subdivision of the lot you are enquiring about.
In Brisbane, the application alone costs $3500.I hope this is of help. Good on you for getting into the game.
CheersHoBe
I find that if a house is for sale and his has the possibility of being subdivided, the real estate agent tends to use this as a selling point.
You should ask the agent (though never take that as gospel, always check with local authorities!), as they usually bump the price up of properties that have re-development potential, so they will most likely be aware if subdivision is possible or not.
i think you might be confusing yourself with the first question too… i feel confused just reading it!
but i know what you mean… perhaps try lookin at sales and the time it took for properties to be sold etc ? this might give you an idea of demand. Also, check websites of developers who are releasing land in the area. They always tend to have media releases and progress updates on how their most recent stage release went. I do this here in perth, and in the big growth areas most new land releases sell out the morning the stage is released!
try not to confuse yourself too much and good luck!
Thx for the info.
So I guess eventhough I don’t hold ownership of the property, but I still can ring up the council and they would let me know whether that address can be subdivided?
(Brisbane – $3500 app. wow, expensive, good to have some figures in mind, thanks)I think I have found an answer to the second question I asked about building approvals. hehe
…
What do people think about Holiday Villages as an Investment?
I was browsing throught properties, there ‘s one up for around $35k.
Then I searched “holiday village” in google and found some existing ones charge around $70-100 per weekend and $30-$60 per weekday.
YES. CF+ cashflow
Now, the question is:
Do “holiday village” properties have any different regulations compared to normal houses / units / townhouses?Vacany rates for these props could possibly be much higher. Solution: Find a company that is willing to sign a lease contract so that its employees can spend weekends there?
Possible to get a PM and find tenants? (are these kinds of prop treated like normal housing?)Do “holiday village” properties grow in value like normal houses / units / townhouses do? Or they are just “special” properties?
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