Convert the garage to make a income property

Viewing 5 posts - 1 through 5 (of 5 total)

LOCOAUSSIE
Participant
@1504lu
Join Date: 2014
Post Count: 2
July 1, 2014 - 11:08 am
Hello there.-
I have a garage which is 42m2 which I am not using because my driveway have capacity to park up to 6 cars, my property is surrounded buy fences and the front fence have a wall fence with two automated gates.
Because of my economical situation, I have had an idea and I put it into my drawings to build a 2 bedroom unit on top of my garage and convert my garage into another 2 bedroom unit with all the facilities required, my intention is to use as an income property, do you think that I will have any problems to do so, my house is in Eight Mile Plains QLD 4113 and has a 800m2 of area.
There is anyone who can give me the best advice and procedure to find out if is viable?
JLtarra
Participant
@jltarra
Join Date: 2004
Post Count: 90
July 7, 2014 - 7:53 pm
I think your best bet is to talk to a local draftsman or town planner at the local council.
They will give you the best advice.
John
Don Nicolussi
Participant
@don
Join Date: 2005
Post Count: 1,086
August 11, 2014 - 10:29 am
Hi – from a construction point of view it is unlikely that your garage would have been constructed with the right foundations to support a second storey addition or granny accommodation. Only if it was mine I would get a builder around to sus out whether the existing structure could be converted. Make sure you account for there time in some way and don’t waste it. If not you are starting from scratch and a 2 storey with such a small footprint may not “stack – up”.
Don Nicolussi | Property Fan
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Catalyst
Participant
@catalyst
Join Date: 2008
Post Count: 1,404
August 11, 2014 - 11:33 am
I don’t know of any council that will approve a triplex property.
Maybe convert the garage but I doubt you’ll be allowed to do 2 new dwellings. As mentioned garage conversions are tricky because the slab is not usually built to be a habitable room. The dewling on top of the garage is a great idea if you can’t convert the garage though. Speak to your local council about their rules.
CanberraClaire
Participant
@canberraclaire
Join Date: 2005
Post Count: 47
August 12, 2014 - 1:42 pm
Whatever you end up doing, also consider the end game. Not only the impact on CGT exemption of your own home, but who the property will sell to. As an investor considering the purchase, I’d like to see that the great yield is backed up by attracting quality tenants, consistently. I’m always wary of mixing personal and investment decisions. Just a thought.
CanberraClaire | Capital Buyers Agency
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