QLD Granny Flat Builder in Logan?

Discussion in 'Where to Buy' started by Jmillar, 22nd Feb, 2018.

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  1. Jmillar

    Jmillar Well-Known Member

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    Sydney
    Hi All,

    With the infrastructure charges due to change 1st July 2018, I'm keen to chat to a good granny flat builder in Logan if anyone has one?

    Also, what is everyone's view on what will happen to values of properties with granny flats on them?

    I didn't have plans to build gfs in the short term but I'm wondering whether I should get them approved and either build before the DA lapses, or sell with the approvals in place..

    Edit: just realised this might be in the wrong forum. Mods - feel free to move.
     
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Comp sales will control vals

    Similar to western syd in the ealry days of GFs , there weret many sales .......... and valuers had no data.

    thus they compared a 3 bed house and 2 bd GF to a 5 bed house.

    yes, logically thats wrong, but in the absence of hard data, it was the next best option.

    result, build GF for130 k increase yield by 250to 400 a week, but the increase in capital value was typically 60 to70 cents in the dollar of the build cost.

    I cant see Loganeseque stick being any different for a few years

    ta
    rolf
     
  3. gach2

    gach2 Well-Known Member

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    I just had a valuation done in Logan for a granny flat. While i have no data on what they valued the existing house (purchased in 2015) I felt as if it came back with granny flat matching dollar for dollar (my contract did not include landscaping and floor coverings though)
     
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  4. Jmillar

    Jmillar Well-Known Member

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    Thanks, can you share any numbers?
     
  5. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    If you get a DA to decision stage by July then you don't need to build for a couple of years.
     
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  6. Scott Townsend

    Scott Townsend Well-Known Member

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    I have been in the process of re financing some of my loans and had my Logan granny flat and main house valued and it basically came in dollar for dollar.

    My original purchase price of my 3x1 in 2015 was $240,000. I was told by the agent my property would have been worth Approx $280k at time of building GF 18 months ago. Now property valued at $440k with GF build approx $160k at the time.

    Maybe now that prices have risen a little more had I not built the GF the property would be worth perhaps a tickle over $300k but pretty much dollar for dollar at the time of build. Achieving around 9.5% yield it’s working for my strategy
     
  7. Rich2011

    Rich2011 Well-Known Member

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    Sounds like you have done well. Did the rent drop much on the main house after the GF was in place?

    What are the weekly rents for the main house and GF?
     
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