Baulkham Hills Development

Absolutely agree - financing and valuations (in turn cash required) play a huge part.

 

@Shahin_Afarin - this has been a great read. Thanks for the updates. I live around the corner from this development and drive past it each day. Let me know if you ever want me to check anything. Looking forward to reading the rest of the build and sale.

 

Thanks for the offer Foxdan - I will definitely update the thread as construction comes along.

 

Great post Shahin!

What a great site and development. Will you be keeping one to live in or to rent out?

 

Hi Mick,

The current plan is to sell 2 (non NRAS) and keep 2 (NRAS). Euro has done a great job in ascertaining NRAS licences for the properties so its makes it more attractive financially to hold 1-2.

 

I know first hand because I am experiencing the same issues with a couple of big banks I have been dealing with for one of my upcoming projects

Afarin means well done btw doesn't it?

 

Hahaha I'm sure we will cross paths in the future and share some war stories re valuations and yes a bit cringe worthy but thats the meaning.

 

Slab is up - frames are next.

 

Really got to have a chat to your man about NRAS. Seems to be becoming much more of a thing.

Looking good. Really interested to see the finished product.

 

1st Floor Brickwork

 

Impossible to secure the transfer of new NRAS incentives now. The deadline to apply for transfers of yet to be activated NRAS incentives passed on Dec 23 2014.

It is however possible to apply for "substitutions" where NRAS incentives that have previously been activated on a dwelling but are no longer being used on that dwelling, can be moved to a like for like dwelling. This is called a substitition rather than a transfer as the incentive has already been activated and commenced it's 10 years of eligibility.

I actually have a number of NRAS incentives available at the moment for substitution - 2 in NSW, both of which would have to be moved to 4 B/R houses. One has validity until June 2023, and the other until April 2024.

I also have 6 in QLD. 2 which must be substituted onto 4 Bed Houses. 2 which must be substituted onto 3 bed Houses. 1 which must be be substituted onto a 3 Bed Townhouse and 1 which must be substituted onto a 2 bed Townhouse. Most have validity until 2022 or 2023.

I also have 10 in VIC which must be substituted onto 1 Bed apartments. All have validity until June 2024

In all cases, the dwelling proposed as the substitute must be brand new, must have Occ Cert, must have never been tenanted.

 

Having said that - if the economy keeps going the way its going, and indoctrinated political ideology refuses to address Super Concessions etc and instead heads down an increased GST path, and when the construction "boom" thats been driving the economy for 2-3 years winds down next year and Australia finds itself a high wage, zero value add economy with no one buying its dirty coal and iron ore and a plunging dollar and ever widening deficit , we may need some form of stimulus to get new dwellings going around the country ... Perhaps an NRAS 2.0 will form part of that?

MYEFO budget update: Treasury calls it - housing boom over

 

Really cool to see this go up Shanin.

Quick question for you... can I ask your thoughts on going with a conventional build (e.g. brick + stick frame) vs SIPS/ICF, etc?

Was this something you investigated and decided against?

 

Can't comment on building with SIPS but for me it came down to lightweight construction (wanted to avoided double brick because its bloody expensive plus the huge increase in load would mean a larger transfer slab and thus concrete.

It also came down to blockwork vs dincel - I really wanted to use dincel but the structural engineer insisted on blockwork.

 

That's interesting. I've heard the same about the cost of double brick. Sounds like the difference in cost isn't as marginal as one would think.

So I'm assuming you're using Hebel of something similar on the second floor?

 

Project has had delays and i've been super busy but here are the latest progress pics which is render and roofing - next up is roughins and gyprocking

 

Scaffolding down - gyprock up.

Render is done - we are painting the 1st and 4th dwellings a darker grey and the middle dwellings a slightly lighter colour to break it up a bit.

 

I like the idea of painting the 1st and 4th ones a darker colour.

 

Looking good

 

interested to see how this one is finishing up!