Hi all
Wondered if anybody has bought a house, knocked down then built a duplex on the block?
Without having done the math, we are just trying to come up with an innovative way of minimising the cost of our first home in Sydney.
My wife is an architect so she could design it, then sell off the plan. Hopefully the cost of half block plus half duplex can subsidise our first home (the other side of the duplex).
I guess the cheapest house in the area we are looking at is about 650k
If anybody has some experience or even a calculator to help with holding costs etc would be great.
Find a project manager or developer/builders in your area. They can assist you with all cost associated with your subdivision project. Some cost you need to take into consideration:
– contribution charges ( if applicable)
– town planning cost
– construction cost
– holding cost/ stamp duty cost
– cost for civil construction ( if required )This is how I bought my first house some years ago. It took longer than I thought, cost more than I could afford, and taught me a few things. Importantly, it also got me into my first house.
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