Hi everyone, I’m new so first of all I’d like to say that I’m really glad I found this forum and I can see I have much to learn and hopefully share with you all.
I currently own (with my spouse) a house on a 1250sqm RZ1 residential block in the CBD of a small but ever exapanding regional town not far from Melb.
Currently we reside in the old house. While it has some character and we have made some improvements it is still in need of a serious cash injection of 100-150k to get it up to scratch for our family. Actually the list is endless!We have decide the best option may be to develop the block due to it’s prime location and large block. I have been told by someone with experience in subdividing to not tell ‘anyone’ and just apply for the subdivision. Considering it is still a fairly small town I figured this to be wise advice.
However, does this mean I should be wary of who I speak to at the local council also? (as people tend to talk in small towns!), what would be the privacy implications here?Our neighbour has a heritage overlay and have lived there for many years and I could imaging that they might not like the idea of say 3 or 4 townhouses next door so I wouldn’t like anyone getting wind of it before we had a chance to submit our application.
Also, as my knowledge is limited in regards to subdivision what should be my very first point of call designer/architect or surveyor?
Hi marcG,
If you do a search on this forum you will find stacks of useful information for subdividing and developing land.
My advice would be to have a chat to your neighbor first. Don't come right out, but just suss them a little. They may be more open to it than you think. Generally when people start developing the other houses in the area get a boost just through the neighborhood being nicer. The less objections the better and sometimes if you can make it positive at the start it may help at the end.
So things to watch out for are if the neighbors house has a heritage overlay check to make sure yours doesn't as well. You can do this online and generally view your block at http://www.land.vic.gov.au.
If you look through the planning maps there is a search function and you can check overlays, zoning and see aerial maps as well.
You can ring your local council and have a quick word about building townhouses on your block and any restrictions that might apply. Some councils have restrictions as to height of buildings or native trees and the like. They may also have restrictions on the sizes of block in your area, you may have 400 or 600 sqm blocks as the smallest and may only fit 2 or 3 townhouses. You can call a town planner/ architect and check out what options you have.
Above all else, please make sure you are going to make a profit!!!!! This will take 18-24 mths and amounts of cash so if there is no profit, don't do it
Good luck keep us posted.
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeI told the neigbours and they fought dirty when the DA went in. Be carefull what you tell them.
But if they do get nasty but the DA goes ahead anyway. Make sure you sit out the front of the property with a beer in hand when the building commences. The look on their faces is yours to enjoy .
I didn't tell the neighbors. They still give me greasy look if they see me! You like those units there do ya? Your tree is fine! What ducks?
They protested about everything and the two (units themselves!) refused to pay for the fence. So they got a free fence. Like I care
This is the problem. Most people whinge black and blue about the cost of housing but they whinge even more if you try and build more!
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DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeThanks for the tips guys, one neighbour we like and the other we don’t so it should be interesting! Got that beer ready for the ones we don’t like already D76! lol
I might have a chat to the nice ones though, hopefully by the end they won’t give us too many death stares at the supermarket. Neighbours can be crazy, I have had a bad experience in the past.
DWolfe wrote:Hi marcG,Above all else, please make sure you are going to make a profit!!!!! This will take 18-24 mths and amounts of cash so if there is no profit, don't do it
Good luck keep us posted.
D
Just curious, how much profit are we talking here. Please feel free to share with the world!.
hahaha.No, really I was thinking anything below 150-200k on top of the gains we already have made on the property if we sold ‘as is’ just might not be worth the trouble. Is that a good ballpark? I guess everyone has their price
I just want to evaluate just how difficult the whole process is and what figure one might say ‘hey this is not worth it, I’m just not going to make enough $$ to justify more grey hairs and a couple of migranes’
So if on market value of the property you make less than 15 % (after building and selling finished product) then no dice. Most developers aim at 25% or over. 20% is marginal. If you are talking about just flogging it of with plans and permits and making a good profit then that is a different story. Having said that is 25% = diddly, squat then no dice! Sorry don't wanna spill my beans
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email Me
:)” title=”>:)” class=”bbcode_smiley” />
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