Hi NoviceInvestorYou should really put the whole feasibility together, prior to purchasing a block. We have recently completed 4 townhouse development in Camp Hill, so I know the area very well. If you intend to build, you have much more costs to cover then just a subdivision: certification, consultants, surveyor…
If the block is already on two lots then you do not have to pay for new sewer and water. These costs only apply to new developments.To qualify for the savings you will need to get a solicitor to apply to seperate the amalgamated title. This only costs a few hundred dollars.You can then contact the council to install the services.
Sailesh C replied to the topic “gentle” sloping block – advice from builder/developer pls in the forum Value Adding 9 years, 7 months ago
Depending on the land size you may not need a lot of retaining as you can batter away from the house. If the land is small then you will need to retain the block. If the neighbour has already built then you will need to keep your retaining wall away from the boundary. This will impact on your house design in terms of allowable width.If is only a…[Read more]
Sailesh C replied to the topic How accurate are online property valuations / estimates? in the forum We usually use RP data to 10 years ago
We usually use RP data to get an idea of what the resales are like in an area. We supplement this information by contact with local agents who give us feedback on recent resales and we also need to keep a watch on what volume is on the market, turnover time and percentage above and below list price.In order to stay relavent we only concentrate on…[Read more]
Sailesh C replied to the topic Metropole Property Strategist vs Custodian Wealth Builders in the forum Creative Investing 10 years ago
Property growth usually work in cycles and growth in a new cycle starts in the inner city suburbs and radiates out to the outer suburbs and then into regional areas. Therefore, to maximise your returns it is ideal to follow this cycle.As an example the inner suburbs of Brisbane stated moving in late 2000 and ended in late 2003. This was followed…[Read more]
Sailesh C replied to the topic How do I tell if Property Investment Mentors are dodgy or reputable ?? in the forum Property investing is really 10 years, 8 months ago
Property investing is really simple. What you need is a good mortgage broker who can help you with funding and then based on what you can afford try and buy the best located property close to the median price.Generally, you try and invest in a major capital city and try and be close to the city center or close to major road or rail network. My…[Read more]
Hi AdamGenerally, a feasibility analysis is carried out prior to commencing a development project. This feasibility report should factor in all costs associated with the project and assessed against the expected end values to work out the return. If the feasibility shows a reasonable return then you move forward with your development plans.Your…[Read more]
Sailesh C replied to the topic Is it feasible to build a duplex on a property with an existing dwelling? in the forum Help Needed! 10 years, 9 months ago
It is quite common to see town houses or duplexes being constructed in back yard of homes in Brisbane. This is only possible on land that has a LMR zoning or the old Res B zone. Your title will show what your land is zoned as. If it is Res A then it will be very difficult to change the classification.
Hi RobbyExcellent way to get started on your property development journey. Over the last eight years we have recommended many duplex sites around the Brisbane area however, lately it is getting more difficult to find viable sites. Things to factor into your feasibility report when assessing a site:Site costpurchase costdevelopment…[Read more]
If you work full time or if is your first development then it is advisable to enlist the services of an experienced project manager. Almost all projects have its own unique characteristics that can trip you up so you will need to assess each stage carefully. Stay on top of things as delays occur if lapses occur.
Where possible buy second hand units with a good out look. Generally in a normal market a new unit will devalue to a level above older units for the first two years. Then the property will start to appreciate in line with the rest of the units in the area.
This house is mainly made of wood except the front face of house, I have heard of termite problem in Gold Coast but is it big n Coomera. I do not want end up paying for repairs every day outta my pocket. Thanks in advance
Most houses are made out of wood, unless you build a steel framed house. Even then you will have wood in…[Read more]
Do some research in the local area on what such a house in worth. Based on the block size the house can be a maximum of 190 sqm. A house this size on a level block should not cost any more than $200k to build. This is a typical build cost for a low set house with a turn key finish with inclusions such as two split system a/c, full security…[Read more]
Dual occupancy will help you earn extra income. We can help you build a 3 bedroom house with a self contained granny flat for around $210k (220 sqm) turn key in the Brisbane area. Do some research and see if this will work for you. I believe it will help you improve your cashflow.
I predict a 6-7% increase in prices across Australia with Brisbane and Perth being the standout cities.
Traditionally Sydney and Melbourne kick off early then soon followed by the other states. However, with all the talk of another mining boom could see Queensland and WA benefiting as well. I think Brisbane has had a longer…[Read more]
You will need to talk to the bank on how to fund the development in the first instance. Due to the current lack of liquidity banks are reluctant in funding new developments. However if you have lots of equity or presales then you should not have a problem.
I will be bold and predict another two years of property growth. The economy is improving people will feel confident and people will feel confident again in buying instead of renting. Historically all property booms have happened in the face of rising interest rates and this boom will be the same.What happens at the end of the property…[Read more]
You do not necessarily need to buy a property from a NRAS accredited developer to qualify for the scheme. The scheme is open to all new properties that are located close to infrastructure. The Government have key areas that they are targeting for this scheme.Therefore, you can look for land in areas you think you will get good growth then have the…[Read more]
You will need to allow for re stumping, plumbing and electricity reconnection, stairs and decks and the usual council fees.By the way we currently have a nice Queenslander that need to be moved from Banyo if anyone is interested. It has nice VJ's on walls and ceiling and a tin roof.
Sailesh C replied to the topic finances approved and then not approved – one week before settlement in the forum General Property 12 years ago
Most loan approvals are only good for three months. If it goes past that date then a re approval is required.It is always best to re apply before the three months is up.
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