I’m looking at making my first property investment and and am keen on buying a block of land to build a couple of townhouses on to sell in coastal victoria.
Does anyone have a ball park figure of how much it would cost to build 2, two storey town houses on a block of land approx 300m2 and how long it would take approx? Is it possible to sell both townhouses or do you have to live in one of them? Obviously price would depend of the plan of the town house, but a standard price for 3 bedroom t-houses? Or an average price per square metre?
How much does it cost to get planning permission from the council? Are there any other factors I need to take into account?
Any info would be a great help.
Without knowing the quality of fittings etc it is difficult to comment but based on a 2 storey Townhouse you could probably work on say $1800 / Sq M so for a 100 Square Metre Twonhouse you are probably spending $180,000.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Take a look at bmtqs.com.au there's a calculator on that website that gives you ballpark figures for construction and quality etc.. not perfect but enough for a basic feaso.
Hi All,
I am looking at doing a similar project in Nundah, Brisbane. We have purchased a property on Melton Road – 250 m to the Nundah Train Station and the Brisbane City Council tells me that without a leniency, we can build two storey townhouse development that can occupy 50% of the block.
In order to put this DA into council I understand that I need to have plans to present.
I have a couple of questions….
1. The BCC will review my applicaiton in view of the neighbouring homes. We are in the middle of two old properties, one of which is in desperate need of a rebuild – and is on the market for sale now. Am I best waiting for this property to be purchased and hopefully developed.
2. The back corner of our block notes a water hazard, and the BCC have indicated that I need to get advise from a hydraulic engineer before finalising our DA. Does anyone have experience with this.
The good news, is that currently our house in being rented out – so we have time to work through what I understand is a long term process.
I am really keen to take on any advise…..
Couple of suggestions for you, as my partner is a building surveyor…
1. No, don’t bother waiting
2. You’ll need to reduce the ground water level to prevent the site from flooding. When you build a house on an empty site, you can get a high water level which results in dampness in the property. This book is worthwhile reading for some building construction knowledge. But yes best to get the experts in.
Building Construction Handbook
R. Chudley (Author), Roger Greeno (Author)Good luck with it all, would like to hear how you get on with everything, building costs, timings, etc.
Leonie
Thanks Leonie for your advise. I will most def. read this book.
Do you where I can get it ??Hi There,
You can find it on Amazon.co.uk
http://www.amazon.co.uk/Building-Construction-Handbook-R-Chudley/dp/0750661968
However I’m not sure if this website ships to Australia. I’m based in the UK, so not sure where abouts it would be in Oz. You could always ring Borders Book Store and see if they have it.
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