I am looking to buy a property to subdivide and I need some help understanding the process.
Can someone please explain to me the process of subdivision (who do I have to hire/pay, how and when does it go through council, how long does it take) also if you could explain the costs that would be really helpful.
Thanks in advance
Ryan McLean | On Property
http://onproperty.com.au
Email MeHi
You need to take on the services of a surveyor, they will do most of the process with council etc, if it is a simple subdivision it can take from 9 to 12 mths and depending on how many blocks as to the cost, around 20k for 2 blocks
Barry
Hi Ryan.
We've done it in SA a couple of times, and I have been told that the process is quicker if a house is going on the land. I think the land titles office put those applications to the front of the list.
From purchase to fully built houses on subdivided block has taken just over 12 months (of holding costs) but obviously the building costs only start to gather momentum right towards the end of the process. Here in SA in Onkaparinga Council subdivision costs were around $20,000 all up, but I think it is up to $5,000 less elsewhere.
Using a cheaper project builder who does this type of development for people all the time was the most cost effective for us, and we had used them previously. Basically they used their preferred surveying company to run the possible plans through our council before we signed up on a specific plan. This was helpful as they came up with a few alternatives we wouldn't have thought of. By doing this we have built nice courtyard houses with two bathrooms and living areas for around $250,000 that rent for $300 pw and have about $70,000 equity straight away. It isn't brilliant, but the best I could think of at the time. If you want any more info you are welcome to contact us (though not sure how you do this).
Regards,
GThanks for the infor guys. I didn’t realise that it cost $20,000 to subdivide, that is pretty expensive and only really worth it for me if I was to build another house, which currently I don’t want to do. I think I will let it slide at this stage until I have more capital and time to go through the subdivision process.
Ryan McLean | On Property
http://onproperty.com.au
Email Me
You must be logged in to reply to this topic. If you don't have an account, you can register here.
