has anyone any experience of the ecconomics of relocating a house to vacant land purchased with the intention of investment property.it appears to me this could be an ecconomic idea considering cheap price of land in some regional towns and the fact you can get the houses from the city for free…you take away.very keen to hear what the forum thinks.
Hi,
I haven’t got experience myself, but a family member has done this before. The cost of transporting the home can be horrendous. Then you have to still get approval from Council and building report, then connection to utilities etc.. Now as I mentioned I have no experience, but after listening to someone relate their horror story of relocating houses, I think it might be easier to buy a kit house and do it that way..
I regret that I can’t be of more help to you in this instance…
Good luck with whatever you decide…
Sooshie [
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1 sleep to go..[]“Giving is a Blessing, receiving is the bonus”
I looked into it a while back because I was thinking about it – not only is relocating very expensive for what you get, but subdivision is no bagatelle either.
it was cheaper to just buy another property on a larger piece of land, and let it sit there (or fence it if tenants don’t want to mow, or lend to the neighbourhood teenager with pony, etc etc )
Here’s a chain of relocation house-yards in NZ where you can go and see a whole bunch of them in one place…
the price you see includes relocating and piling it onto the site plus wiring it up. i think. mains and water. However a lot of these houses are not ‘ready to go’ for that price – they need new kitchens etc. Although there are some cute villas if you are into that kind of thing.
Basically although it might be only just cheaper than building new it might not be better, ….basically you still just have an old house…..
Sorry if I am being negative, it’s just that i looked into it and in the end made the decision not to go for it. My Dad’s friend did it once and said it was a nightmare. ($$$$). Whereas – another couple I met and stayed with moved a house onto their property as a guesthouse and had no problems at all.
If you can get a house for free to remove, first check out whether you’d want to remove it. Some of them are shot.
Kitset new homes aren’t that much more. (that is, the horrible ones like the lowest priced no-frills version.)
but guess what I discovered in my quest, bit more expensive than a prefab granny flat but you gotta take a look, they are these amazing super-stylee baches, you can either buy the plan or the whole kit, bit of a tiresome flash site but it’s worth it – look at the stills because the VR tour isn’t up yet – ) now this kind of thing gets me excited!
,,,,,,Now if you could only get full-size stylish kitset homes like this.
For less than relocating one, that would be a cool thing.
cheers-
MiniHi Barb
Thanks for the links…
Would you consider adding an additional property to one of your properties taht has a lot of land. Seems like a great way to get some additional income.
Do you know what is required from a regulatory perspective (ie council requirements) in order to make this a possibility?
Thanks
David U
Hi brett
i’m a bit more positive on the idea.
but
make sure you do all your figures right
there is always more work than you expect.
i bought a house for 3k relocated 100km put a new roof on and it cost 20k, electrical came in at 2k, the plumbing, plaster, i did a new kitchen, the landscaping it goes on and on.
if you plan to do the work yourself it takes forever, so be careful if it is a long drive away.
i have a friend who has bought some land in regional vic and will do this. he expects to make 40k out of it (with him doing some of the fix up).
one last warning check out finance a lot of banks have strict guidelines with this and you need a bit of cash to finance it up front
westanHi david U,
>Would you consider adding an additional property to one of >your properties taht has a lot of land.
I wouldn’t personally as I could get another house on more land for less. Without the mucking around let alone time.
> Seems like a great way to get some additional income.
I know, I did like the idea. i think the more the land is worth, the more it would become worthwhile. However where I have been looking land is cheap, houses on 1/4 acre sections are pretty common,>Do you know what is required from a regulatory perspective >(ie council requirements) in order to make this a possibility?
Yes I do actually, thanks to the latest KPImagazine. I have no clue about Australia but imagine it might be similar.
http://www.propertyinvestor.co.nz/default.htmStep 1 -get copy of title of property, council records for hazards and drainage, building and drainage plans, LIM report, survey data. Have meeting with local Land Surveyor.
Step 2 – survey of site is done. topgraphical plan is prepared and then the proposed Scheme Plan (subdivision layout) is developed.
Step 3 -Scheme plan resource consent – shape factor -minimum frontage – lot layout -access -servicing -traffic engineer??? -drainage, water supply, etc etc etc stability, earthworks, vegetation, heritage sites, reserves
(see what I mean? And we’re only at step 3 of 11. OK I’l speed it up a bit.)
You end up with a Resource Consent Application.Step 4
Lodge with council for approval.Step 5 Land transfer survey – place pegs, legal plans drawn up for titling purposes. lodge with council for approval.
Step 6 Council approval of land transfer plans.
Step 7 Lodgement at Land Information NZ for approval.
Step 8 council completion certificate
Step 9 survey approval! (finally!)
Step 10 Apply for new titles and deposit of plans (undertaken by solicitor)
Step 11 New Certificates of title issued.
If you get the mag you can get the details of the company that wrote the article, who offer a free consultation to readers of the mag.
cheers-
Mini
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