ok cool that makes sense. also Oscar just to get a very rough idea- what would this sort of construction cost if i was to get a builder to do it – just the cost of building i mean ( not planning to do it just yet but curious to know)
Hi Oscar
Just wondering why you have a commercial loan instead of residential?
What is the interest rate?
And does this mean you don't have to put up a deposit?
If you work off $1500 m2 you should be safe. Still, it depends on the finish, the size, the amount of levels etc
Cheers
Oscar
Hi AC
When you turnover multiple development sites a year it makes sense to shift over to commercial lending. You can do it yourself or get your broker involved. The fees are generally higher but that's the costs of business.
Deposit? Always
Cheers
Oscar
The rain has been a nuisance lately. You can see that the roof truss is all up now, the windows are in and the fascia and gutter is well underway. By this time next week the roof tiles should be there along with all fascia and gutters (including the box gutter between Units 1 & 2 – always a bit fiddly). Once the roof tiles are in at least the units are protected by the rain which seems to be around a lot more.
Cheers
Oscar<img alt="" border="0" height="496" id="lightboximg3" src="http://somersoft.com/forums/attachment.php?attachmentid=10172&d=1366961278" title="fascia gutter (3).jpg;
1001 x 564 (@89%)” width=”881″ /><img alt="" border="0" height="496" id="lightboximg5" src="http://somersoft.com/forums/attachment.php?attachmentid=10174&d=1366961305" title="fascia gutter (6).jpg;
1024 x 577 (@87%)” width=”881″ />Hi Oscar,
Can I ask how come you choose to build 2 bedroom units instead of 3 bedroom? How much value would you say a 3rd bedroom would have added to each unit? Looking good so far.Thanks Joe.
3 bedroom dwellings must have 2 car spaces where as 2 bedroom dwellings need only the one. This makes a big difference and in this case would have meant only 2 units on the block rather than 3. I found this to be the highest and best use of the site.
Cheers
Oscar
That’s clever thinking.
I'm glad someone thinks i'm clever
Cheers
Oscar
Oscar what would you allow for water and sewer tapping for a unit in a backyard? City west water aren’t very helpful and the response I got from them was “I don’t know”
Joe, you need to do this formally by requesting a PIC. This you need before your plumber can start and it will have the contributions listed. It's the only way.
I would allow $4,000 for contributions. You may get some change out of this. Your plumber will then do the work – cheaper.
Oscar
I've uploaded a few photo's from the morning. The last week has seen the electrician do his rough in and electrical meters put in place. The plumbers have also done there rough ins. The internal walls have been straightened and the cavity sliders placed into position too. The boys today have wrapped the house and installed the wall and ceiling batts. One small drama today though. A couple of the pipes have been stapled so the plumbers are coming out next week to make sure there are no water leaks. No biggie – easily fixed.
Plasterers start next week along with the bricklayers. Things will really start taking shape then.
Cheers
Oscar
<img alt="" border="0" height="496" id="lightboximg0" src="http://somersoft.com/forums/attachment.php?attachmentid=10223&d=1368240614" style="border:solid 4px black;border-bottom-width:0px;" title="external wall wrap 1.jpg;
1002 x 752 (@66%)” width=”661″ /><img alt="" border="0" height="496" id="lightboximg1" src="http://somersoft.com/forums/attachment.php?attachmentid=10224&d=1368240643" style="border:solid 4px black;border-bottom-width:0px;" title="external wall wrap 2.jpg;
980 x 735 (@68%)” width=”662″ /><img alt="" border="0" height="496" id="lightboximg2" src="http://somersoft.com/forums/attachment.php?attachmentid=10225&d=1368240701" style="border:solid 4px black;border-bottom-width:0px;" title="internal wall batts.jpg;
985 x 739 (@68%)” width=”662″ />Looks like it is coming along nicely.
Going to keep the 3 bed or the 2 bed home ?
Hi Wilko
They are all 2 bedroom units. I'll probably keep one for myself as a rental.
Cheers
Oscar
3 weeks since the last update and a lot has happened. I've uploaded more photo's than usual.
Monday was a great day. I turned up to the site and saw the electricity crew installing the second electrical pit (power needed for units 2 & 3).
The estimated installation date was mid July so this came about 7 weeks early. I can really push along fast now whereas there was no real urgency as the units would have been finished without any power.The plasterwork has finished, except around the kitchen area. This will be completed once the kitchens go in tomorrow. The brickwork is now finished which meant i could get the site all clean again (nice feeling )
Internally the chippies have nearly finished the fix – hanging up all doors, skirts and archs. Next week the tiler is in to do the waterproofing in the bathrooms and then start on the tiling in the bathroom, laundry and kitchen splash back areas.
Externally, yesterday i had the big excavator come with the hammer to dig the trenches for Telstra and for the electrical conduits. Massive rocks continued to come out. At one stage the poor guy was hammering away in the one spot for at least 20 minutes – the thing just would not break!
Monday the plumbers are back to do the stormwater work outside and put the three pits in. Tuesday the bricks get acid washed which makes the units looking all nice
Cheers
Oscar
<img alt="" border="0" height="496" id="lightboximg3" src="http://somersoft.com/forums/attachment.php?attachmentid=10348&d=1369862800" style="border:solid 4px black;border-bottom-width:0px;" title="external bricks.jpg;
964 x 723 (@69%)” width=”662″ /><img alt="" border="0" height="496" id="lightboximg4" src="http://somersoft.com/forums/attachment.php?attachmentid=10349&d=1369862836" style="border:solid 4px black;border-bottom-width:0px;" title="internal fix.jpg;
1584 x 1188 (@42%)” width=”662″ /><img alt="" border="0" height="496" id="lightboximg5" src="http://somersoft.com/forums/attachment.php?attachmentid=10350&d=1369862855" style="border:solid 4px black;border-bottom-width:0px;" title="plaster.jpg;
1580 x 1185 (@42%)” width=”662″ /><img alt="" border="0" height="496" id="lightboximg6" src="http://somersoft.com/forums/attachment.php?attachmentid=10351&d=1369862876" style="border:solid 4px black;border-bottom-width:0px;" title="electrical pit install.jpg;
883 x 662 (@75%)” width=”662″ /><img alt="" border="0" height="496" id="lightboximg7" src="http://somersoft.com/forums/attachment.php?attachmentid=10352&d=1369862901" style="border:solid 4px black;border-bottom-width:0px;" title="electrical and telstra conduits.jpg;
828 x 621 (@80%)” width=”662″ />Oscar, you're living the dream! Site is looking good.
Cheers AC. Should be finished in 4 weeks or so. Weather is a pain lately. I'll put some more pics up tomorrow. Finally finishing off the stormwater….massive rocks everywhere!
Oscar
Whoa look at the size of the boulder in that last picture. That'll make a great water feature
Oscar, how big is the land?
AC, land is about 495m2. Not large at all!
Cheers
Oscar
The estimated installation date was mid July so this came about 7 weeks early. I can really push along fast now whereas there was no real urgency as the units would have been finished without any power.
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