We own 20 hectares in Qld. I can’t seem to get a straight answer from anyone at the council so can someone please help!!!! We were told that the basic costs involved in subdividing the land include $355 for the initial submission, then $55 per block that we subdivide. Also, we have to supply power and phone to each block and there will be a “road coverage” fee if a new road has to be built to access any of the blocks. I was told that “that’s about it” if we sell the blocks as vacant land. This sounds too “cheap” so what are the “hidden costs” that we are not being told about?
Hi Lesleigh,
Be careful, connecting things like power and telephone, let alone chipping in for the construction of road(s) can be no small outlay. Especially since these types of services are mainly carried out by overweight, bearucratic organisations. There are people who’ve done what you want to do so you should get a more detailed answer shortly regarding specifics etc.
Also is your land in a good spot, if it is and you dont need to sell, you could sit on it for a little while longer and cash out later. It’s just a thought of course, but with everything that’s happening and the future demand for housing in Qld…?
Also back in the 80’s my mum worked with a lady who owned with her husband about 40 acres in Agnes Waters. I dont know what that land would be worth today, if anything- it might be zoned rural, but I hear the story every few months and cant help but wonder, if it’s residential land, what it’d be worth considering the average price in Agnes Water now. Anyway, just a thought…
Hi g7
Thanks for your response. We also ask ourselves these questions and this is why we are tossing up which way to go. We are zoned rural/residential.Hi don’t worry too much about the hidden costs when u r a developer, we work like this
Basic questions;
Land cost ?
Yield ?
Retail value ?
Development costs $60,000.00 per lot
Sales and marketing per lot $XXXXProfit yes/no
Do it yes/no
next pleaseresi
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