Cost of Demolishing PPOR and doing Dual Occupancy

We are thinking of demolishing our PPOR in Bayside Melbourne and putting up a dual occupancy of 2 x 4BR Townhouses. We would live in one and sell the other. Ours would have to have a pool as well. Questions we have are:

1. What can we expect with a budget of $800k - $1.0m?
2. Who are the recommended home builders. Eg. Metricon, Carter Grange etc....?
3. Would it be better/cost much more if we got an architect to design - If so, can anyone recommend in Bayside/South East?
4. What would timeline from cradle to grave?
5. For the one we are selling do you get the same added value on the sale as you do on the build?

Please feel free to add anything else we haven't already considered.

 

Getting the property valued as is would help in determining if building the townhouses is viable.

 

Does the math add up? Like @Archaon said, is this financially feasible?

 

Thanks Archoan Current Value - $1.5m - $1.6m. I have posted another thread in more relevant forum

 

that's what we're trying to determine. Hidden costs can be game changers. I've put more cost estimates in a new post.

 

The big cost might be marine factors if you are within 1km of the bay - they need to use galvanised everything and better colorbond roof etc

Go see a few completed ones that might be for sale in the area. If you like them check with council which builder is listed on the building permit and go talk to them and see how much they cost to build.

Its a nice area so the money you have might not go awfully far especially if you need to do significant earthworks due to slope or want to put garaging underneath.

Can you link the other thread> I can't see it

I would say from demolition to being finished about 15-18mths

 

Building a Dual Occ in Bentleigh on our PPOR

 

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