just over 2 years ago we bought a block with house for purpose of dual occ/sub div. development. we have fought with council now for 2 years and have finally got dev. approval. now, i’m over it!! do I sell with dev. app. & try to recoup some money or do i go ahead and develop the block. we are nearing retirement and feel that maybe our money would be better spent on buying retirement home and renting out for a few years. but knowing the land values on central coast nsw and how the area is going ahead we know that when the boom comes again we will be sorry we didnt develop block. what do we do, any suggestions would be helpful!!![blush2] the house already on the block is nice and have good tennants which add to the dillema
Hello bewildered
What is it you want and what was it you wanted in the first place from this deal.
If it is money, is there currently money in it if you go ahead.
If you sell do you make money.
Perhaps this is an opportunity to turn a negative situation into a positive one so that you ultimatley feel good about it.Dale
Wow, 2 yrs for approval, no wonder your over it!
You have come this far, why stop now? Your halfway over the hill, just roll on down, and cash in on your patience!
If there is money to be made in the deal you originally looked at, why not take a breather, forget about it for a couple of months and see if you can get enthusiastic again.
Wylie.
Wylie is right. It took me 3 years to get approval so I took a breather for about 6 months & didnt even think about it. After that surprise surprise I was interested again. Course that meant I ran out of time to complete the project but it only costs about $300 to extend the Building approval if you don’t finish in time and is worth it for peace of mind. Just kick back and look at it as a hobby
Fern
thanks everyone, its amazing how supported I feel just by logging on and knowing that people are there to give advice.
It really is appreciated[biggrin]
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