Hi all,
Thanks for all the great information so many of you have contributed. I am dead keen on doing a subdivision of a residential block with existing house in Brisbane and selling the new block (without house). Am looking for a property within a 10km radius of CBD. I now understand the process of subdivision and the rough costs, but am concerned that the block on its own might not sell – especially given rising int rates. I’d love any experiences others have had or any tips for selling land only. Am I better to build a house on the back? That’s more complex.
Liz
Liz
I am looking at a couple of properties that can be subdivided. You can never guarantee that the land will sell. But you can find out what the estimated selling price would be from the agent. Also what the demand for land is like in the area. The best way to do this is to ask other agents what land has sold recently in the area and for what price. Better to ask other agents rather then the selling agent.
If u sell the land only u will be doing your self out of about $40,000.00 profit ????? hello !!!
Resiwealth, how do you come to that figure?
Byronent
Adelaide SAresiwealth,
as a once great oqeensland poli once said…. “please explain!where did you get 40k figure from?
selling the block (with some plans) is a short term, strees free, way to gain some quick capital.ead, Sell slightly below what the area is asking and demanding is my suggestion. i know, having done both before in a past life.
Thanks so much for your feedback. Your tips about asking agents what blocks have recently sold for, and being possibly being prepared to accept a slightly lower price will help me get an outcome. Sometimes I succumb to fear that it might all go pear shaped – and I’m determined not to let that happen. Your suggestions have been practical and helpful. Thanks again, Liz
Sorry if Im coming in a bit late on this but I too am intrigued with how ther is $40k left on the table?
Im currently subdividing in the SouthWest and as hard as Ive tried I cant make a case for building as opposed to just selling the blocks. There may be 40k in the deal across all three blocks, however the risk and associated holding costs etc etc would for me far outweigh the “cut and run” approach. I guess it could vary in specific areas….
Originally posted by streetwise:
Im currently subdividing in the SouthWest and as hard as Ive tried I cant make a case for building as opposed to just selling the blocks…. the risk and associated holding costs etc etc would for me far outweigh the “cut and run” approach. I guess it could vary in specific areas.Hi streetwise
I think you’ve hit the nail on the head with your comment that the outcomes will vary in specific areas. ead, as well as pm’ing resiwealth, why not sell your existing house and land, and building a H&L package on the remaining block to either keep or sell?
Cheers
Greg
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