I am currently doing 2 projects on the one property in Ipswich in QLD, a reno and subdivision.
Is it advisable to get a valuation on the exisiting property before and after a renovation and then again once subdivision is complete?
Is there a general rule of thumb for loss of value of exisiting property once you subdivide the block?
Great saying rocky,
The answer to your question is that it is an individual thing and depends on your financial position.
Are you going to keep both and rent, develop and build and then sell ???
If you do a nice job on the front house the value should hold … the secret here is to know what the area is wanting … I was involved with several sub-divisions in and around Ipswich … good growth area and good luck.
Philip Sigglekow
Thanks Philip,
Project management 101 is were the saying comes from, definitely my style!!I am keeping the existing property and going to sell off the back block when it is done.
Do you have the names of good builders who did work for you by any chance? I would love to get my hans on some serious cash as there is some excellent potential in Ipswich to do well.
Cheers
Ben Hamilton
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