Developing a Land

Discussion in 'Development' started by leostarkz, 18th Oct, 2021.

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  1. leostarkz

    leostarkz Well-Known Member

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    Hi All,

    I've seen a couple of undeveloped land for sale in Riverstone NSW area like this, and with the shortage in land supply, I wanted to understand what does it mean to develop a lot like this. Taking this lot as an example;
    1. What does it mean to develop a lot like this? I assume clearing the land and connecting the services? Have I missed anything?
    2. How much am I looking at to develop a lot like this?
    3. Who should I engage to develop a lot like this? a boutique developer? can a builder can do the development and subsequently build as well?
    4. Is there a requirement for me to get any certifications to ensure the land has been developed from the council, Sydney water etc?
    5. Is it possible to get a mortgage on a land like this or banks shy away from these kinds of undeveloped lots?
    6. Lastly, as someone who has no experience whatsoever with this, is it worth undertaking this exercise? I'm leaning towards yes as I'm after building a PPOR and haven't been able to find land at all.
    Thanks a lot in advance.
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Computer says no - you'd be better off buying a vacant block with services.

    These blocks are narrow but very deep - it may suit a battleaxe for 2 or 3 dwellings provided you can achieve drainage to all blocks.

    The original owner would have been better off creating a road behind the blocks so they could be easily split but the terrain precludes this without major earthworks.
     
    lixas4 likes this.
  3. leostarkz

    leostarkz Well-Known Member

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    Thanks for the reply @Scott No Mates, what if I'm not interested at subdividing or reselling at the moment and only want to focus on fully utilizing the block and building my PPOR?
     
  4. leostarkz

    leostarkz Well-Known Member

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    any other advise please?
     
  5. ParraEels

    ParraEels Well-Known Member

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    Some thoughts for you to consider.

    those properties were on the septic system and now you have to connect to sewer line of Sydney water. So it will cost you extra.

    Are you able to remove all trees? Council will allow you? council may allow you to cut some trees but not all. Due to biodiversity reasons/DCP requirements etc

    Are you able to achieve full potential of the land if all trees are not gone?

    Council may ask for a contribution levy at the CC stage. Do you have spare cash for contribution, DA, interest on land. What if the council take 6-10 months in DA approval. What if you are required to build custom instead to project build?

    Have you check BAL rating. It may increase your construction cost.

    Talk to a good broker, Finance will be a headache too.
     
  6. Scott No Mates

    Scott No Mates Well-Known Member

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    How is the area faring with the current rain?