All Topics / Value Adding / My first sub-division!

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  • Profile photo of noobienoobie
    Member
    @noobie
    Join Date: 2007
    Post Count: 21

    I am so excited! The agent called me an hour ago to tell me I just bought a wonderful old house on a big block only a few streets back from the sea.  After reading comments on this board, I knew enough to sign the contract 'conditional to receiving council approval to sub-divide the blocks within the next 7 weeks' and also subject to finance. I also set settlement date as "14 days after all conditions met" instead of putting a firm date. I hope I did the right thing.

    I'm so nervous I was nearly wetting my pants when the agent called!

    Now I know I got the property РI have no idea what to do next! I guess call the council, arrange the application for sub-division approval and visit a heap of builders??

    My research shows me there's plenty of room for future capital growth with new houses on the newly sub-divided blocks Рespecially in a trendy beach-side suburb, so that doesn't worry me so much. I've built a couple of houses on 'spec' before (just bought land and chose construction costs very carefully so profits were maximised) and done quite well with those. And I've managed to do well with past renovation projects. But this is an entirely different ball game!

    Anything anyone can think of to add to stop me wetting myself on a frequent basis over the next few months would be immensely appreciated.

    Thanks!!


    Noobie!

    Profile photo of MysteryMystery
    Participant
    @mystery
    Join Date: 2006
    Post Count: 87

    Well done newbie, .. sounds like a great opportunity.

    Good luck

    Martin

    PS … Nothing comes to mind re: solving the wetting the pants problem …. :-)

    Profile photo of bren the builderbren the builder
    Participant
    @bren-the-builder
    Join Date: 2005
    Post Count: 14

    Well done noobie, hopefully the first one is the hardest, (getting started I mean) hope it all goes well. Now the fun part starts dealing with the council for permits, quotes etc. We used pull-up nappies on our youngsters, they don't stop the problem but hide it pretty well, especially in at council give em a try. Cheers

    Profile photo of noobienoobie
    Member
    @noobie
    Join Date: 2007
    Post Count: 21

    I guess I'll go buy some adult-sized pull-up nappies to use for the next couple of months, hey!

    So far the council has been really helpful/suggestive. Let's see what happens as time goes on.

    (only one nappy used today – when the planning guy told me I can't move a bus-stop to make room for a second driveway access to the road. Then he said "Oh wait. Yes I can. There's enough room for the stop over there." Only slight pants-wetting involved there.)


    Lisa
    (Noobie)

    Profile photo of millionsmillions
    Participant
    @millions
    Join Date: 2005
    Post Count: 355

    Congrats Lisa!  Do you have to pay for the bus stop relocation?  Regards, Linda

    Profile photo of noobienoobie
    Member
    @noobie
    Join Date: 2007
    Post Count: 21

    No. the guy said that Trans Adelaide would move the actual stop for us. That's the good news.

    The bad news is the¬†Onkaparinga Council are in charge of the shelters they put near the stops.¬†I have to pay half the costs of moving the shelter – which wasn't approved to be moved. So the stop is now further down the road. But the shelter is in front of my block (incidentally, blocking my sea views from my intended new house which isn't even there yet….).

    I've applied to the council for them to move that, citing the intended new driveway location for the proposed house that's not even there yet. That goes beyond pants-wetting. That's brown-trousers time.

    How do people do this for a living without needing several changes of clothes per day??


    Lisa! (Noobie)

    Profile photo of millionsmillions
    Participant
    @millions
    Join Date: 2005
    Post Count: 355

    Thanks Lisa, it's fun dealing with councils heh!  I hope it all goes well. 

    Profile photo of Cam111Cam111
    Participant
    @cam111
    Join Date: 2006
    Post Count: 13

    Well done with your purchase, it will be well worth the pants wetting in the end. I have just finished my first sub division in the northern suburbs so not sure what the council will be like that your dealing with but one thing i would recommend is getting a good surveyor. They have made it so easy for me by doing all the dealings with the LTO, councils, SA water and who ever else needs to be involved. It has really paid off for me and i have no doubt it will for you too! Keep up the good work…

    Cam

    Profile photo of tammytammy
    Member
    @tammy
    Join Date: 2005
    Post Count: 155

    Hi Lisa,

    Congratulations on what sound like an interesting journey. I hope that 7 weeks for council approval is sufficient time. I have just revieved word my subdivision approval has come out of council almost 4 months after it went in!!!! And just prior to submission, I spoke to the town planner who assured me it would only take 6 weeks. Then one TP resigned to relocate and another went on early maternity leave and and the other had a minor heart attack !!! So, I guess what I am saying is, things beyond our control increase the time or the cost so take it for granted that it will take longer and cost more than the quoted and if you come out better you win! I do hope it runs smoothly for you.
    Alle the best
    Tammy

    Profile photo of lilyhutchlilyhutch
    Member
    @lilyhutch
    Join Date: 2007
    Post Count: 49

    Hi Noobie,

    Where did you buy out of interest?

    Profile photo of noobienoobie
    Member
    @noobie
    Join Date: 2007
    Post Count: 21

    Christies Beach – south of Adelaide

    Profile photo of lilyhutchlilyhutch
    Member
    @lilyhutch
    Join Date: 2007
    Post Count: 49

    I think I know the one!

    Profile photo of trakkatrakka
    Member
    @trakka
    Join Date: 2004
    Post Count: 257

    Do you have an option to extend beyond 7 weeks if Council doesn't approve in that timeframe? That sounds very optimistic to me, but perhaps you know something that I don't which gives you reason to think that this is achievable. Can you share?

    Profile photo of noobienoobie
    Member
    @noobie
    Join Date: 2007
    Post Count: 21

    I know the planning officer in that council area. I went to school with him

    Lisa! (noobie)

    Profile photo of tammytammy
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    @tammy
    Join Date: 2005
    Post Count: 155
    Profile photo of Jono_73Jono_73
    Member
    @jono_73
    Join Date: 2007
    Post Count: 1

    Ummm….yeah 7 weeks sounds tight to me.
    Just completed my first sub division, was able to gain two additional blocks. While it took me a while with a few hiccups along the way (bad advice from real estate agent), it has worked out very well for me. Good luck, the advice on a good surveyor is worth noting, my helped me considerably.

    Profile photo of mdaceymdacey
    Member
    @mdacey
    Join Date: 2004
    Post Count: 1

    are you subject to CGT for a subdivision?

    Profile photo of MillyMilly
    Member
    @milly
    Join Date: 2004
    Post Count: 288

    well done Lisa

    I too am going to start my first subdivision this year. I've had surveyors out who have been great in giving me the costings ie between 20 and 30k (cos ipswich council has waived council contribution charges). But they have warned me that it could take a year from start to finish. It will be a battleaxe block.

    now you would think that in these times with housing crises in most major cities and where councils want denser living they would be encouraging investors like us, cutting thro the red tape so we can get the job done. Perhaps there is a council town planner here who could explain why the hell it takes sooooooo long! Call me  a cynic but I can see my application being shuffled from person to person, misplaced on a couple of occassions, shelved during someone's annual leave and generally fartarsed around in any way possible.

    I know Rome wasn't built in a day but I reckon I should be able to have my driveway and utilities to my little block in a month..

    Profile photo of kum yin laukum yin lau
    Member
    @kum-yin-lau
    Join Date: 2006
    Post Count: 342

    Hi, well done. When I 1st read your post, I thought you were joking. How did you get any vendor to give you those terms? I can't seem to get anyone to agree to settlement subject to sub-division approval.

    My 2 projects took 2 years to get off the ground, admittedly i slowed down the process when I saw the way the property market was moving.

    The sweating & etc so welcome to the club! Keep us posted on how you go.
    KY

    Profile photo of red123nzred123nz
    Member
    @red123nz
    Join Date: 2007
    Post Count: 73

    nice keep it up :)

Viewing 20 posts - 1 through 20 (of 28 total)

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