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Duplex Costing

Discussion in 'Development' started by jeffb5ltr, 19th May, 2016.

  1. jeffb5ltr

    jeffb5ltr Active Member

    Joined:
    19th Jun, 2015
    Posts:
    35
    Location:
    Sydney
    Hi all

    I am trying to work out the $$ feasibility of doing a duplex on my current PPOR, rather than sell as is and let someone else do the development. it meets the rules for a R2 with size and width of block, no easements,although a sewer line runs across the back fence, but well away from the building area, block has a slight slope to rear, but hard to pick by eye.

    1. Project home (Metricon, Lilly Ect)
    or
    2. Recommended builder (Recommended by 2 real estate agents)

    Here are my items and rough Calcs based on some research here and speaking to others.


    Construction Cost $ 620,000.00 (426sqm x $1458) (4br 2bath single garage)
    Town Planning $ 10,000.00
    Demolition $ 28,000.00
    DA $20,000.00
    Council Section 94 $10,000.00
    Water Board $ 7,500.00
    Council Subdivision $ 10,000.00
    Water Dentension Tanks $ 25,000.00
    Landscaping $ 16,000.00
    Rent while building $ 60,000.00 (60 Weeks x $1000)
    Holding Cost of Loan % $ 69,510.00
    Agents Fees for sale $ 25,600.00
    Contingency $ 40,000.00
    Hyd Eng Plan and Work $10,000.00
    Total Cost $ 951,610.00

    Have i factor in everything,

    Not sure what the builder (Project Homes) include in their prices waiting to hear back from them

    Does the DA include, (Town Planning, Section 94)

    Is my contingency enough?

    Hyd Engineer as our block has a slight fall front to rear? Have to get a Survey done, any recommendation Parra area of Sydney

    I bought the block 8yrs ago and have been living in it as our PPOR ever since
     
    Yann likes this.
  2. A.Butler

    A.Butler Active Member

    Joined:
    9th May, 2016
    Posts:
    41
    Location:
    Brisbane, Qld
    10k for hydraulic engineering plans seems a bit expensive for a duplex.
    How much do other developers pay for this service in Sydney?
     
  3. Mumbai

    Mumbai Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    763
    Location:
    Sydney
    Too expensive and too long!
     
    A.Butler likes this.
  4. jeffb5ltr

    jeffb5ltr Active Member

    Joined:
    19th Jun, 2015
    Posts:
    35
    Location:
    Sydney
    We based it as we thought if we have to move we would move closer to my wifes work in Leichhardt and rent is between $800 - $1100 (Fivedock - Concord) and rather over estimate the time than under estimate. we have 3 kids a boat and two cars to move, so it has to have a few things.

    All the other figures such as the Hyd Engineer plans and work required to meet the plan are me guessing and reading other post, the only thing i have from a project builder is the base price of the duplex and a list of optional items.
     
  5. A.Butler

    A.Butler Active Member

    Joined:
    9th May, 2016
    Posts:
    41
    Location:
    Brisbane, Qld
    The hyd estimate is drastically over estimated we can do them for around $1500-3000 depending on the site and constraints.