Hi All, I'm looking to dip my toes in the property development world while still working full-time. I already own a property which is rented out but I believe the block of land is large enough to build 2 townhouses which I would like to sub-divide and sell off. To embark on this project I could engage the services of a registered builder but this would eat into my margins. What are the license/permit requirements for me to manage this project by on my own via sub-contractors? Have any others on this forum taken on such projects and be willing to share their insights in terms of lessons learned and any pitfalls to avoid?
You will need to confirm whether an owner-builder is permitted to build a duplex as this is specifically a dwelling built for someone else.
Trying to owner build a development seems like the opposite of wanting to 'dip your toes' into property development! Shouldn't you be focusing on the big picture development work/research/DD and outsource the rest?
Owner builder licence is only available if you intend to live in the property after completion and not if you intend to rent or sell.
Actually I reckon do feasibility and a good long chat with your accountant first. Do the numbers stack up? Do you know about GST? Do you have any knowledge about the building process / risks involved? Regulations are there for a reason.
Are you talking about the costs that a builder might charge to project manage such a project or the ability to actually build it yourself? Quite often you can project manage the designer, town planner and builder yourself or a builder could have it all in house but they don't charge a lot for this.
More like diving in head first without checking the depth Owner building this instead of engaging the services of an experienced builder could actually end up costing you more. How are you funding it? Cash or loan required?
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