DA for my grandmother's home??

Discussion in 'Development' started by Niche, 15th Oct, 2019.

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  1. Niche

    Niche Well-Known Member

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    Hi all development experts,

    I just have a question around the process of getting a DA and the potential value they add. My Grandmother is likely going to be moving to a retirement home soon and we will be looking to sell her property.

    Her home is on a relatively large corner block (roughly 850sqm in East Maitland) which from the very little I know about developments means it could have potential for a subdivision. I was just wondering what things to look for to determine if getting a DA would increase the value of the property by enough to warrant doing it?

    I know i am probably leaving out a lot of vital information but as this is something I have never done I don't really know what other info I need to add.

    Thanks,
    Niche
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Do you have authority to do so?
     
  3. Niche

    Niche Well-Known Member

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    By authority do you mean act on her behalf? Because if so, my mother is PoA and all that fun stuff so although I do not directly have authority, I am researching on her behalf.
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Your mother should seek legal advice. How would this benefit your grandmother?
     
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  5. Paul@PAS

    [email protected] Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    She may well lose her pension and even face tax problems. You buying her property at market to do any dev also needs to consider aged care, pension and other issues. At present her home is a exempt asset. Cash isnt and the deeming rate is well above actual earning rates.
     
  6. KB_

    KB_ Active Member

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    I read the post as OP only wanting to get a DA, rather than actually develop the property on their grandmothers behalf.

    OP, you could research sales in the area with and without a DA on developable sites. Perhaps trawl through the sold listings on domain/re.com?
     
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