Hi All,
I know this is a “how long is a piece of string” question, but i was wondering if anyone has a rough cost of deloping units. This can either be X amount per 2br etc, or X amount per m2.
I know it will only be rough, and will be determined by location etc, but it is just so i can do preliminary estimates before diving into the real due dilligence.
Cheers,
Dan.
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Had a similar, yet very brief conversation with a friend, whose family is in the building game, and mentioned $10k-$12k per sq mt. (This is building costs only though!)
The cost of $10,000 per square that woodsman mentions is the right ballpark for Melbourne prices.
For this you would get a well finished unit, carpets, airconditioning, wooden floors, granite benchtops etc.But then there is the land cost which varies from subub to suburb and the cost of getting your planning permit/DA. This varies considerably also.
Michael Yardney
METROPOLE PROPERTIES
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FREE subscription http://www.metropole.com.auA little off the topic, but how much is a square in terms of square meters? Is it 1 square = 10m2?
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
Dan,
I think it’s 1 square = 9.6 sqm.
James
I may have read things wrong, but $10,000 a square equates to around $1,000 a metre 2 ( square metre )
It can’t be $10,000 a squrae metre.
That would make each unit cost over a million dollars.yes $1,000 a metre is pretty much where its at now. allow 1% price increase per month for the next 12 months.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Investron, you are right. I often type faster than I think[blush2] $10k-$12k per sqaure is what I should have said.
A square is 9.24m . If you look for builders that specialise in building units prices start from about $5500 per square for very basic stuff and the units would have to be at least 13 square plus. On a flat block and more than one on the site. You would also have to allow $20,000 per unit for fences, landscaping, footpaths and driveways. There are also costs of council subdivision fees, surveyors, sewerage disbursement fees and connections, planning permits, building permits in total this would add up to around about $10,000 per square all inclusive. However when building smaller units the price may be slightly higher due to the fact that a small unit still has bathroom, kitchen and laundry which are expensive parts of the unit. Cheers, Rick[baaa][biggrin]
Mate go talk to four architects then you will start to get the drift of what is involved … make notes ask questions etc.
There are lots of experts out there with no experience, at the end of the day the secret of success and making profits is good luck and good timing, its that simple all the rest is BS
Phil
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