Hi Everybody,
I would like to know the costs involved in subdividing a 1 lot into 2.
There is this 800 sqm lot in Karrinyup and it is for sale. The house has been knocked down and it looks like the retaining wall has started too. I have asked the council of Stirling if this has been approved to build 2 houses and they said yes but it hasnt been conclude.What costs should i take into consideration? I would like to have an estimate budget to see if it is profitable or nor before i purchase it. Also, not sure if i will be making any money due that this will be my first time and i will be building with a company, not bymyself.
Can anyone help?
Thank you!
Angela
You would need to ring a few builders and ask for an estimate of cost per m2, then work out how big each dwelling will be and work out building costs. If it is only an 800m2 block I’d assume you could put a duplex or units on here as 400m2 block is fairly small especially when you’ll need to make room for driveways etc. Costs and profit will also depend on how much you pay for the land. You may need to pay council headworks also
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