Disclaimer: I am totally inexperienced in property development and new in Australia….so be gentle
I am investigating the small development route. I see a piece of land. But at the moment I am not too sure about the options as I am still learning the ropes (and the lingo)…
My thoughts: Is strata titling required when it is not possible to provide each plot of land with its own street entrance?What is dual or triple occupancy? Is this something different? Does it entail subdivision or just 2 or 3 “houses” on one title.
If I sub divide into 3 ore more plots do I have to pay a “Public Open Space Contribution”? Maybe I could allocate 5% of the original property for this purpose? Perhaps a section that is very steep, difficult to fit another unit in?
Is there a difference between sub-division and strata titling or is sub division part of strata titling but not necessarily the other way around?
I have lots more questions but am not sure how to formulate it/put it in words. Perhaps some answers will clear those questions or will help to formulate words to ask it.
Somewhere I read in the forum about somebody that wanted to strata title 3 villas on a torrens title. What is a torrens title? Can I build 3 villas on a “normal title”.
If I go the “strata titling” route, would there be a time limit as in when all units need to be built, or can I do this as time suits me? Off course all financials such as holding costs etc will be considered.
Hi Oryx,
I think you may need to read up on property development and get yourself educated as much as possible. I understand you are in SA as you mentioned ‘torrens titles’. There are people who teach property development from the ground up and that sounds like it may be perfect for you. I’m not sure if they do so specifically through property investing .com, but you could have a look at a product put out by a fellow SA chap called Martin Ayles ( heres an old link https://www.propertyinvesting.com/resources/seminars/30 )
but you can find his product for sale here https://www.propertyinvesting.com/resources/products/36
If they havent got any, try: http://www.propertyinvestmentcourses.com.au/products/courses/development-blueprint-%7C-martin-ayles.html
Then you can have a look at http://theblockblog.com/propertyinvestment/strategies/property-development-2/ for 4 more options.
Also if you visit your local council and speak to a person in the town planning dept, they can answer all these questions as they relate to you specifically and the area you are looking to develop in.
Hope that helps a bit.
Ian
http://theblockblog.com
Free Property Investment Information, Tools & Resources for Investors with a Sense of HumourFantastic! Thanks Ian.
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