Louise HighleyParticipant@louise-highleyJoin Date: 2015Post Count: 1
I often notice that people have houses from removal that are either 1000 or free even. Assuming that the house is in good condition etc, if you were to move a reasonable 3 bedroom house for a example to a new block and resell or rent it out / potentially renovate it – do you think there is a potential for profit. Obviously there are a lots of costs and restrictions with doing this, I am just curious as to the potential.
ThanksKatarinaHParticipant@toddy2015Join Date: 2015Post Count: 10
You would have to seriously crunch the numbers: the cost to move the house (removalist, tradies to do disconnection) plus council permits, may need building approval (at least it does in Qld). Then you need the block of land, restump (more cost), reconnect (various trades) – and may need council approval (depending where you are & what the zoning of the property is) & might need engineering to make sure it’s sound. In addition to that you may have to renovate anyway to make it habitable.
You may find that adding up all those cost that you might as well build new. It’s a numbers game like everything else. And to top it all off – if it is a good 3 bedroom house some removalists are even willing to pay for it so you’d be up for competition. And if they don’t take it for free – there is a reason for that too.
I wouldn’t consider it unless I already owned a property with a good house on it I’d want to move. And even then it might not stack up.
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