I was wondering how easy or hard is it to sell a block of land at the rear of your property after you have subdivided your block?
Anyone have experience doing this?i guess it’s all supply and demand.
It’s not hard to sell. Getting to the point of been available to sell is the hard part – ie. actually completing the subdivision and all the requirements.
If this is on a block that you live on and are cutting the back off be careful because there will be a CGT component for the block of land.
Sibdividing is certainly a great way to unlock value in a property however you first need to check with Council to ensure this type of configeration is permitted. There’s usually a minimum side access required of approx 4m. Most Councils will also require that the full length of the driveway be concreted plus the existing driveway on the front property. Not to mention the fire hydrant you’ll probably need to install so the Fire Brigade can reach the back house in the event of a fire. New services for the water and sewer will need to be installed and that assumes that the existing pipes can cope with the additional demand. Subdividing can cost a lot more in time and money than anticipated so make sure you’re planned well in advance.
Cheers,
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
consider the tax implications, you may be better off just selling the lot..i.e. house and rear property together
Rear hatchet lots are not so popular, unles they are particulalry cheap.
Would you like to live on such a block and be hemmed in by the front house? Most folks dont like the idea.
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