Advice on how to best project manage a two townhouse construction

To the best of my knowledge (not a broker) an Owner Builder will have an LVR around 60% for the construction whereas if it's a builder contract then it can be up to an LVR of 95%

Maybe some brokers can input @Jess Peletier @Redom @Peter_Tersteeg ?

 

For an OO build, that's right. Final LVR for INV is generally lower - around 90%. Owner-builder is around 60% and hardly any lenders do them.

 

I'm not sure this is possible, it may vary from council to council. Looking at a few Sydney based development consents, there was a requirement for final building surveys and lodgement of easements on the 88b which can't happen till everything is constructed. But you can't construct till you have your building permits etc. etc. etc.

 

Just curiously, is a builder financing their own development also considered to be an owner builder in the eyes of the financing institution? One of my recent experiences which I was a little bummed about, as I was knocked back on a higher LVR on that basis.

 

Could a builder do it through his/her own company?

 

Unfortunately no. That's where it was questioned, they did a search and noted I was a director on a company and asked what it is that company does. From there they said if you contract yourself you are an owner builder and OB lending rules apply I.e. LVR etc.

 

Thanks Westminster - that makes sense from a risk perspective from the bank.

 

@Tinaandalex[/USER] - once you have the permit for the development of the two townhouses you should be able to subdivide, you will likely require a s173 agreement or restriction on the subdivision plan which restricts you to using those permitted plans.

As its a side by side you are proposing, the sub plan will include an easement for partywall where the townhouses connect.

Normally with a sub, once the building starts the surveyor goes back to site and measures the built location of the buildings and changes the sub plan to suite, this cant happen when subdividing prior to build. So just make sure when you go to build that the surveyor marks are there so it gets built in the right spot, and if they have been disturbed/removed, get the surveyor back out to remark it.

To confirm you can sub prior to build, get your land surveyor to confirm with the bayside city council subdivision officer, its normally ok, but its best to confirm.

 

Thanks so much for a comprehensive guideline, @lixas4 and it makes sense. My question is with subdivision prior to build, did you mean the sub has to be actioned by land title office or council approval is sufficient? Getting the land subtitled is a lengthy process which means the construction will be pushed back materially if it’s the case.
Is it silly to ask if a building surveyor can grant two building permits (detailed by plans) on one address (prior to property being subdivided?)
Ta

 

Multiple building permit/approval can be issued for a single property

 

Thanks so much @Tufan Chakir. Are you able to recommend a good building surveyor in Vic?

 

Ask who ever does your drawings for you - that's the connection/relationship that you want to rely on... the connection between drafter/architect and building surveyor.

And to clarify, a Building Surveyor will issue a building approval/construction on a set of drawings/documents for construction, not something vague...

 

Thanks Tufan. I will ask my architect about this