1986 House Renovation/ Demolish & Subdivide

Discussion in 'Renovation & Home Improvement' started by Parmjit, 10th Jan, 2024.

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  1. Parmjit

    Parmjit Member

    Joined:
    23rd Dec, 2022
    Posts:
    14
    Location:
    Melbourne
    Hello Folks,
    We have bought an acre property Narre Warren South with LDRZ with sewerage connected. I plan to subdivide into two lots 2000 sq m each. Existing structure is from 1986 and 263 sq m. I have two options
    1. Knock down and subdivide side by side lots. (22m X91m). Build one, live in it for couple of years as other one is built. Then sell and move into new one to save on CGT.
    2. Keep existing structure, renovate & extend and subdivide backyard.

    I have attached photographs indicating condition of the property.

    Questions:
    1. what factors would you consider in choosing between two options? Considering I have no experience in extension and renovation.
    2. How can I find cost of extension and renovations?
    3. Any feedback would be helpful
     

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