Hi,
Can someone give me an average per m2 cost of constructing townhouses to Lockup Stage. Location Melbourne
I have got a planning permit for two townhouses of 190m2 and 183m2 including garage.
Thanks
A budget of around $1,000/m2 is adequate.
The process of completing the project beyond lock up is complicated if you are not a registered builder.
If contemplating doing this work yourself you should instead consider a contract to build to lock up, plus rough-ins, plus hang and stop plaster. This means the "fabric" of the building is mostly complete.
Beyond that you will require the ability to "assume" the sub-contracts for licensed trades such as plumbing and electrical.
Thanks,
Do you need a license to sub contract the work after lock up stage? i.e can the builder walk away after lock up stage and leave the rest to me to complete?
I’m asking because I owner built my current residence and know many people on the trade and want to try save as much as possible. (My father is a plasterer)
It's technically possible. Perhaps!
The issue is that there are several triggers for the requirement to use a licensed builder.
If the works are of more than a certain value (I believe it's currently $12,000)
If the works are "structural" in nature.The tricky part is that a building permit will be required for all of the works.
It may be a good idea to contact a building surveyor (they issue the building permits) and explore the scenario.ksun1985 wrote:Thanks, Do you need a license to sub contract the work after lock up stage? i.e can the builder walk away after lock up stage and leave the rest to me to complete? I'm asking because I owner built my current residence and know many people on the trade and want to try save as much as possible. (My father is a plasterer)where are you based, in Qld/NSW?
Good luck in trying to finance such an arrangement.
Lenders wont like an OB deal for a investment.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Qlds007 wrote:Good luck in trying to finance such an arrangement.Lenders wont like an OB deal for a investment.
Cheers
Yours in Finance
Richard, what would the bank require you to have in order to lend you the money for this situation? Ie own land outright?
Hi Joe
The issue comes in wanting to construct multiple townhouses.
Doing a single OB deal isnt a problem with the right lender.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Thanks for clearing that up Richard.
Easy Joe
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Speak to a builder in you local area, maybe give them some design plans to work off for your estimates.
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