Hey guys,
I am looking at doing a new project some time next year. I am looking to purchase a property with a land size of 700 to 800 sqm block with a reasonble home. I am looking to invest in either deer park or werribee. I work in real estate so looking for a home like this will be less of a challenge. After buying a home with such a big land i would like to develop units "etc".
What is the average cost of building a unit? If i decide to either sell or rent out the units how much sq's should each home be? On a block size of 750 how many units would you build? Are there any other cost that i may have to consider?thanks
JohannJpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
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Before you do any thing you need to know what the zoning is. That is what determins how many units you can put on any particular block of land and their minimum size. Sometimes this is given as number of bedrooms. Eg 4 x 2 bedroom dwellings per 700 sq/m. Your first phone call should be to the local council to get an idea of what you are allowed to do.
The cost varies widely depending on finish and construction method. For example, does the land have any covenants on it requiring a certain method of construction, such as only brick and tile. Covenants can also state minimum dwelling size.
I dont know the areas you are talking about very well (been to Werribee once).
Before you comit to a purchase on a property based on what you think you can build, consult a independant Town Planner. They know the rules inside out.
Hope this helps.
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