G'day.
I'm 21YO. I have a property worth approx $310K and a mortage of $210-earning $1200pm on it, and am looking at purchasing a property in the $240-265k range 3br (leased at $250pw) 900m2 of land and wish to build townhouses on it-i believe the area is zoned as to allow for 75% of land able to be floor space if my calcs are correct. approx 675m2 to play with? what is the average 3br-4br townhouse floorsize?
how do you suggest to go about this sort of investment?
are there builders out there who do cut deals wheras they recieve one or two properties as payment for the rest?? or am i bettwer to keep the property rented at $250 and improve slowly, then in 5-10years after more savings and equity is available build my major plan?
how do loans work for construction of townhouses/villas?
btw does anyone know the approximate cost per 3-4br townhouse is? i was thinking $1000-1500/m2
Cheers
DavidIt will cost about $1200/m2. I recently constructed a house. It is well equipped with latest additions.
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