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Thanks Buyers Agent. Yes these planning schemes can cause challenges. Fortunately Melbourne has not gone as far as NSW did with OSD- my first dual occ 15 years ago went through that. I resolved through a WSUD design-instead of an extensive concrete tank under the driveway- something in vogue now.
#Planning Permit | AuArchitecture
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Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
You need to go outside Melbourne- find a block you can subdivide and sell off the new lot to pay down debt or build the dual occ and get 2 incomes to be cash positive. There are properties like this within 100K of Melbourne CBD where rental demand is high- easy to commute to work.
Property may cost around 200K+. Build cost about $150K+. Rental income about 600/week+#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Thats a big reno! Choose the right area where land costs are escalating and location is attractive to make it worthwhile- otherwise rethink. less reno cost and more cash into a dual occ behind which adds value and gives an additional income down the track- more equity to buy another property with similar attributes -the options are great. Enjoy. Melbourne- a Great Place to Invest in.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Which State are you considering. Subdivision can be profitable in Victoria if done well, in right areas and has good recent sales history.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Hi Sammy, Think of adding value to property as another way of achieving capital growth from property. If you are in Melbourne I have some good online and free information on my website of the type of property to look for and how to do a small development. Its based on the hundreds of properties I assessed and how i got those few hundred planning approvals. Feel free to contact direct.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Property subdivision costs
The following are just some of the costs you will incur for a property subdivision around greater Melbourne.
The cost of acquisition of the land if you do not own it
The interest or holding costs
Your share of equity or the deposit which is usually 10% of the cost of the property
Stamp duty which is 5% in Victoria
Legal costs for conveyancing which could be in the vicinity of $1000
Town Planning Application fee which is around $700 depending on the value of the construction costs
Subdivision permit fee of around $390
Bonds or contributions your local Victorian Council may request. Generally speaking open space contributions apply to three or more lot subdivision. A bond may apply to ensure the landscaping is completed as per approved plans
The Land surveyors fees which can be around $3000 and more depending on number of lots
The Architect and Town Planners fees which ranges from $12,000 upwards. Talk to us for our competitive fee structure
The landscape consultants fee which is under $1000
A civil engineers fee for the drainage design around $1500
The structural engineer’s fee which can be in the $2500 range upwards depending on the type and complexity of the constructionand number of units to be built. Sloping land, poor soil report will affect the engineering and building cost
The fees to prepare Building Permit/Tender documents
An arborist report if it applies. Arborists report on the vegetation on the land and on adjoining properties if applicable can cost around $900
The Building surveyors fee which can be upwards of $1500 if you decide to build. Some developers may decide to sell the approved lots with the plans and permits. A purchaser will then undertake a feasibility study and after allowing for all costs and profit margin, be in a position to make a firm offer
A soil test report around the $450 mark which depends on number of bore holes and size of land
The cost of the construction which can be $1200 per sqm and more depending on finishes and site constraints
The subdivision costs (providing services, crossovers, driveway,landscaping which can add up to $15,000 and more for a simple dual occupancy)
An open space contribution usually applies for three or more dwellings on a lot. The contributiion can be 5% of the landvale on the rates notice
A contigency amount to cover unexpected construction costs which should be 5% of the contract price
The soft costs- professional fees to prepare the development application ( design) and building permit (detailed design for construction) documents. We offer a fixed price affordable fee to do these tasks
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Shocking! Why this strategy is the big question! But its a lot better than the 18%-24% I paid for my first development properties. How we came out of that is something I forgot and best to leave it that.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
There are some in Melbourne who charge very high fees to find a property and more fees to design and get permits. Then there is the one I posted here on the property spruikers who are being chased by ASIC. Money goes and refunds hardly come back in full. Think twice before thinking higher fees equal better product.
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This reply was modified 8 years, 7 months ago by
#Planning Permit.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Thats a good return. Try a dual occ development with a subdivision into 2 lots in Melbourne for solid captal growth and equity. We can help you in thst process in Victoria.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Well said Geoff!. I was a Toorak man but found South Werribee very exciting- great opportunities lie ahead. A colleague in my Toorak days once said – going to Werribee? Make sure you wind up yor windows! I asked- are you still driving a non electrified car?
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Werribbe, Geelong is Victoria’s hottest untapped area now with State Govt new vision. Cranbourne, Narre Warren are good too.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
I can help you find development property around Melbourne , obtain permits at a competitive fee.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
500K could get you started in Melbourne- the place to invest in.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Adding value is the best way to grow. Find a property with a big backyard where you can build one or more additional houses. Or find a corner site or one with a wide frontage where the local council may allow a side by side duplex. Its great fun as long as you know what to look for. Feel free to contact me direct or read the other posts on Property Investing I wrote on finding good subdivision site criteria. And watch out for covenants on title. It might restrict development!
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Hi, I asume you are looking at property in the Melbourne area. If that is the case the SBO in simple term means there is a chance the site may flood. Usually that information was imposed by Melbourne Water and I have found local councils have their own SBO which unfortunately may not be on the Land CHANNEL MAP!!!
if there is a SBO it means the floor levels- even of garages and carport (and in seriously affected sites even the driveway) is set on the specified floor level to AHD. In normal instances it is set at about 300mm above the naturtal ground level. It also means getting approval for basement parking could be problematic.
There is more to finding a good subdivision site as sometimes the overlays and schedules can create challenges. You may wish to read my other poss on the ultimate subdivision site in Property Investing. Or feel free to contact me direct.
Happy hunting! The opportunities are there.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Hi, I asume you are looking at property in the Melbourne area. If that is the case the SBO in simple term means there is a chance the site may flood. Usually that information was imposed by Melbourne Water and I have found local councils have their own SBO which unfortunately may not be on the Land CHANNEL MAP!!!
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Hi Laverton is good and if you are looking for a house with backyard, buy one which can be developed through a dual occupancy- you had value and get two incomes. Hobsons Bay Council will require you build before a subdivision permit is issued for separate titles. The same will not apply in St Albans(hot and untapped area for dual occs) or Werribee(proven area for dual occs), which is quite underpriced. Need help finding the right type of development site? Read my other posts.
Werribbee South is now an upmarket suburb no longer the poor image it had.
Good luck and here to help.#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Hi I have a lot of experience with Geelong Council and there is hardly a town planner there who does not know me. Feel fee to directly send the property addrss so that I can check the schedule to the zone. Usually Belmont requires more open space than some of the oter suburbs in Geelong. and thats why Belmont is desirable to home buyers.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Hi, Your 17m width is a great help for 2 units. The suburb and Council makes a difference. Would like to assist if your property is in Victoria.
#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
Which state and city are you looking to demo and subdivide. Some Councils in Victoria may require a development application before you can subdivide and register the titles.
Generally allow at least 15K upwards for subdivision costs- driveways, utilities connections etc. Demolition costs can vary again depending on building materials deployed. Soft costs to take to Council can be around $20K including fees etc.#Planning Permit | AuArchitecture
http://www.auarchitecture.com.au/
Email Me | Phone MeProperty Subdivision expert with 250 planning permits approved by Melbourne Councils
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This reply was modified 8 years, 7 months ago by
