All Topics / Help Needed! / Need recommendations plz!

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  • Profile photo of rohanaldridgerohanaldridge
    Member
    @rohanaldridge
    Join Date: 2006
    Post Count: 11
    March 20, 2008 - 10:03 am

    Hi Everyone,
    A bit of background knowledge – am 22 and from canberra and have a secure job. Have invested in 2 properties in NSW in the last 2 years and am looking to buy a 3rd. Have found a place in regional NSW which i really need some help with…here are the details. It is built on a corner block (land size 1050sqm) and I am interested in buying the house and building another 3bdr house behind it, then subdividing in the future. It initially looks to meet all the councils requirements for dual occupancy/subdivision. 

    I really need some advice as to what I should do now, should i submit an offer subject to getting DA approved?  Do builders do the DA for you? How much does it cost? how long does it take?

    I am looking for a builder that will do the whole process for me basically…planning/building/landscaping. Everything up until i put a tenant in there basically… Can someone reccomend a couple of builders that you have had any experience with that service regional nsw and give me a rough guide of how much i can expect to pay to have a 3 bdrm house built from scratch? and what to look out for?

    I know ive asked alot here…It would be really really appreciated if anyone can give me advice on this. I am contactable by mobile too – 0424339484.

    Thanks alot,
    Rohan

    Profile photo of L.A AussieL.A Aussie
    Member
    @l.a-aussie
    Join Date: 2006
    Post Count: 1,488
    March 20, 2008 - 1:10 pm

    You may want to check out what the Land Tax thresholds are in NSW as well.

    I think you may be getting close, probably over, with this new property.

    The taxes on investors in NSW are a joke, and you may be better off to invest outside of NSW this time.

    Profile photo of rohanaldridgerohanaldridge
    Member
    @rohanaldridge
    Join Date: 2006
    Post Count: 11
    March 21, 2008 - 3:15 am

    ok, thanks for that, ill keep it in mind. Anyone got any suggestions to my questions??

    Profile photo of Jeff JohnsonJeff Johnson
    Member
    @jeff-johnson
    Join Date: 2008
    Post Count: 50
    March 21, 2008 - 4:03 am

    Hello Rohan,
    Probably not much help but just a few comments,
    I am sure more experienced NSW developers will help you.
    It sounds like you need a project manager. This will cost in some ways but also save in others. Good builders are all too busy to do your homework and there is no responsibility on them if things go wrong, unless you are contracting them and even then it is iffy 
    Buying subject to DA may limit your negotiating on price.
    Check with council where services are, moving sewer main can add a lot of cost.
    Good Luck

Viewing 4 posts - 1 through 4 (of 4 total)

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