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Go Easy On Me

Discussion in 'Development' started by Boorune, 5th Aug, 2015.

  1. Boorune

    Boorune New Member

    Joined:
    5th Aug, 2015
    Posts:
    1
    Location:
    Australia
    Am I in over my head with this or not.

    I have grand plans for a 1300m2 block that has a soon to be demolished 1910s red brick house. The property is in regional NSW and is to be auctioned in the very near future.

    I dont know the exact zoning for the block but a development of 4 x 3br townhouses will match similar developments current under way in the street.

    My problem is I dont fully understand all the ins and outs of developing in this fashion. For starters I need guidance with the title. Do i need to get the block sub divided? If so, do i need to have a full set of plans for council and obtain development aproval first?

    What are the costs of getting design approval and the block sub divided?

    My goal is to sell all the townhouses. Should i try and sell off the plan or construct first?

    Has anybody got a checklist of steps required to before commiting to purchase at auction with a view to developing?

    Cheers all
     
  2. Be Developer

    Be Developer Property Developer Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,078
    Location:
    Australia
    @Boorune

    It will depend on zoning of land and planning control of council.

    You can apply for Development Application (DA) for 4 townhouse and council may grant you
    Torrens/strata Subdivision approval prior/post construction.

    Cost for design of 4 townhouse will depend on work required but allow 15-20k min Inc professional fee (surveyor,draft person,hydraulic, landscaping, basix,etc)

    You can sell off the plan if that's what trending in your target market.

    Up to 4-5 dwellings, you can apply loan under resi and may not require pre-sell.

    Things to consider

    Subdivision cost
    Council contribution cost
    Higer regional development cost
    Postcode lending
    Resi/commercial loan
    Buying Structure
    Tax
    Finance
     
    Gockie likes this.
  3. TML

    TML Well-Known Member

    Joined:
    4th Aug, 2015
    Posts:
    111
    Location:
    Sydney