All Topics / Value Adding / Subdivision Cost – help!!!

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of lucky88lucky88
    Participant
    @lucky88
    Join Date: 2008
    Post Count: 25
    March 2, 2008 - 8:31 pm

    Hey all

    I have found what I think is a bargain in a giant block of land ready for subdivision. I know that the previous owner had it approved from council for a torrens and two dwellings, but I think that may have expired. I will find out today… Meanwhile, this will be my first IP development so I don't want to bite off more than my knowledge can chew.

    Can anyone advise as to roughly how much it costs to put in a driveway, connect services down a long block and pay council fees ( a rough guide would help).

    I will pay $300,000 for the block. Half a block down the road is on the market for $215,000 – and the previous owners paid for my block $261,000 in 2001 so I figure this is very reasonable.

    If I build two houses one at front and one at back, I figure they will be worth at least $400,000 each on completion. I reckon I can build two four bedroom houses for about $150,000 a piece. So council fees and connection fees are what will eat my profits.

    Any other amateur developers out there? The property is in western Sydney.

    Cheers all and happy speculating!

    Lucky

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    March 2, 2008 - 10:29 pm

    Contact the council firstly to check if the DA has lapsed, if so, what is required to restart it or extend it? Then ask the town planners what it will cost for their approvals. A civil engineer or a qs should be able to ball park some subdivision costs for you.

    There are other threads on this – so search them out.

    Profile photo of lucky88lucky88
    Participant
    @lucky88
    Join Date: 2008
    Post Count: 25
    March 3, 2008 - 12:16 am

    Thanks Scott. Will contact Council first up. Anyone out there know of good quantity surveyors in the Granville area of Sydney?

    Cheers

    Lucky

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    March 3, 2008 - 12:55 am

    Any Sydney QS will do. Try Parramatta.

    SNM

    Profile photo of Rodeo 98Rodeo 98
    Member
    @rodeo-98
    Join Date: 2006
    Post Count: 10
    March 8, 2008 - 11:33 pm

    Hi Lucky ,

    Here is a breakup of one we have just done in Qld .

    Sewer and stormwater to council specs (43 Metres ) $25000 .
    Underground power                                                           $12000
    Council fees                                                                         $18000
    Additional fencing (30 metres)                                        $   1800
    Driveway  (footpath crossing )                                          $ 2200
    Surveyors fees .

    Then there is the cost to have the plan registered .

    Hope this helps

    Rodeo

    Profile photo of lucky88lucky88
    Participant
    @lucky88
    Join Date: 2008
    Post Count: 25
    March 11, 2008 - 9:00 pm

    Hi Rodeo

    Thanks for that. I don''t think my little venture sounds as large as what you are doing….

    Lucky

Viewing 6 posts - 1 through 6 (of 6 total)

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