I'm interested in buying property that is zoned Rural Living 1. I'm curious as to how much I can expect to pay for the subdivision.
I've seen examples and suggestions of around the $10,000 mark. Would it be the same if the final result was a 4 lot subdivision?I've never subdivided before so any tips or advice would help.
Cheers,
Priscilla
There are a number of issues. In NSW in similar zoning a subdivision may require construction of roads, provision of electricity, contribution to council infrastructure.
Talk to your Council town planner
Depends on so many things:
How big is the block you're subdividing
How many lots
Council infrastructure contributions
Consultants' fees
Are you just doing DA or going through to a flat land subdivision with roads etc
10K would be very light for a multi lot subdivision. Doing a 'splitter' or subdividing one block into to can cost closer to 20K than 10K. Depends on a lot of variables.
Good advice. Talk to a council planner, and also get a quote from a town planner for the DA/Subdivide.
Thanks for that. Show's how much I know, I dont even know what DA stands for…
Its just over 100 acres. Current owner has already done a land survey, which makes me wonder why that arent taking it further themselves. Real Estate agent said they are retirees who have purchased their camper van and are ready to travel, and dont want the hassle. Survey proposes 3 x 20acre lots and 1 x 40 acre. No roads to be done as all entrances are off existing road.
Thanks for the advice. I will make a call to the council's town planning.
Cheers,
PriscillaDA is development approval.
MCU is material change of use (which would be probably more what you're seeking for subdivision)Town plan will tell you waht you can and can't do with the land and what zoning it is. Theyre HUGE blocks. What region is it in? Regional or closer in?
its up Mansfield way in Regional Vic. Oh, and its Rural Living Zone 2. Whatever that means. Apparantely the same land surveyor has subdivided a similar size parcel of land for the owners but with smaller blocks and a few more of them.
I'd like to sell off the 3 x 20 acres and keep the 40 acre. The real estate agent said you cant subdivide any smaller that 20acre lots where it is.
Does anyone know of any websites with decision-making tools that I could make use of? Something where I enter in different scenarios of purchase costs, selling costs, factoring in CGT?
I've budged subdivison fees of $30K for now. Hopefully thats a safer estimate that my $10K.
Try BMTQS. I think it's bmtqs.com.au – they have a bunch of calculators down the side in the menu that could be a starting point for you..I think your main cost would be a surveyor and then a town planner to submit the MCU docs for you.. get a quote and see for sure..actually be safe and get say 2 or 3 quotes so you know if someone's having a lend
The BMT site may not address all your needs but would at least give you something to start with…
hope that helps.
Here's another one: http://clients.estatemaster.net/webcalculator/WebCalculator.aspx?logo=FORSITE.JPG
Again, its only for informational purposes, it may not be entirely accurate but would give you a starting point..
Thanks Matt. You've been a great help.
Cheers,
Priscilla
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