Hi all,
I’m new to the forum and hoping I can acquire some help here. As i own a couple of properties in melbourne I’m now looking to subdivide and develop (owner builder) most likely 2 double story townhouses on the block. Roughly what should this be costing? This will be my first development and want to make sure I don’t miss anything. is there anyone recommended in the South east suburbs? Advice, materials etc
This is a very ‘how long’s a piece of string’ question…
We have done what you are thinking of doing on your Melbourne block, to a block we own on the Gold Coast. It cost us $290k x 2 for 2 semi-detached units that where 3 bed x 2 bath.
We sold one for $420k. Retained one and get $440 p/w rent. We used Metricon builders. Your best bet is to approach a builder, you’d be surprised how much work they will do for you (costing-wise) before you even commit. Our builder pretty much all but laid out turn-key contracts for us so we knew every expense we were up for, before we even signed or committed anything, just so we knew how much it would cost.
James MRD | MRD Partners
http://www.mrdpartners.com.au
Email Me | Phone MeMRD provide ethical property investment expertise that drive long-term wealth creation
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