NSW Kellyville opinion for PPoR and later on IP

Yes, I'm thinking to build a granny flat while I'm still living in the property, so when I'm ready to move out the Granny Flat can be rent out as another source of income.

So do I have to ask the local council for DA certificate to allow dual occupancy before the property is settled or after ?

 

Whoa, where about is that @wombat777 ?

 

That was with White Design & Construction ( they are at McGraths Hill ). They are a custom builder and don't have display homes. You'll need to have your own block. They don't do H&L packages.

My block was H2 soil class and fairly flat. Assuming 10% pa price increases that would put build cost now at around $467k for 320sqm.

 

I think to be correct, I should have said 'secondary dwelling'.

There are plenty being built in new estates in the hills.

More info:
http://www.thehills.nsw.gov.au/file...plication_lodgement_-_secondary_dwellings.pdf

http://www.planning.nsw.gov.au/en-au/deliveringhomes/affordablerentalhousing.aspx

Also, in rouse hill note this:
- 3/2/2 with fonzie flat $1,135k
http://www.realestate.com.au/proper...roject-profile-ppp-600006439-to-pdp-120343401

- 3/2/2 ( no flat ) $945k

http://www.realestate.com.au/proper...roject-profile-ppp-600006439-to-pdp-120269081

1st one is selling for $195k more with the fonzie flat.

I would guess the additional construction works for the flat above the garage to be about $50k. $145k is a nice profit they are making.

A fonzie flat on a new build is perhaps the cheapest way to get a dual income property.

The only thing I am unsure about is whether you can rent the two dwellings individually????

( nevertheless, I don't think you would have trouble renting a complete property like this )

 

All,

After getting back to the developer regarding the H&L package that I posted yesterday, ALL of them has been sold out ...

so, yes I guess proper due dilligence takes some time than emotional buying here. Many thanks guys for the sharing and explanation for acquiring H&L package, by posting my doubt and asking your experts opinion here, I don't let my emotion takes over me for this expensive decision.

If I had reacted without asking you in this forum I might already put the deposit (EOI $3000) on Monday and could probably get it.

..and now, I'm on the same wagon (betting the same) as @sash to see that somewhere in Sydney Northwest suburb new estates will be affected by the interest rate hikes / mortgage stress.

 

Tekoz why not buy something already established that's within walking distance to one of the new stations? If you're going to spend $1.1m you'll have far more choice in what's already on the market and on larger land. We know these areas very well, having bought for many clients across the last decade and you need to keep in mind that land is still being released in the North-West region, as well as several new medium and high density projects coming on board. Don't fall for "golden opportunities" being lost - that's just a sales pitch to create urgency!
Happy hunting

 

The issue I see is that anything close to the train station is VERY HOT and sold very quickly (almost NO time for due dilligence) and people would pay way too high to ensure that they can walk to station, also some of them would be rezoned to high density and then bam it is $2m plus .....

I always think that for PPOR, you can save a few hundred thousand dollars by buying further out, and buy BMWs/Mercs (lifestyle choice only) instead.

 

With $1.1m I would buy north of Hornsby (Asquith, Mount Colah, Berowra). There are already existing train station and well established leafy suburbs.

 

How does this fit in with your 500k borrowing capacity you told me about? Did you win the lotto or are you just talking crap again....

 

The sad thing is you actually don't listen to anybody's advice at all so I don't know why you ask the same questions. If you want someone to say yes, it's a good deal then I will make another account and say that just so you stop asking the same questions over and over and just buy one...

 

There is no perfect property and no one has a crystal ball as we know it. So I think at the end of the day, you have to make a decision. Having considered the fundamentals that the experienced investors have pointed out in this forum, you are better equipped than those who aren't on this forum to purchase your next IP.

 

ej89, you realise he's a troll right?

He's here purely for entertainment value.

 

What the? Who can verify this?

 

He's not. He's dead serious.

 

@ej89 sounds like you have met @Tekoz ?

 

@neK and @ej89 is Tekoz causing either of you any kind of problem. If not why not leave him be.

 

Just dont get it. Asks for advice in private message and wastes my time then writes something completely contradictory that's a lie..I didnt think he was a troll but now I'm starting to believe he may be

 

@Darren A I am letting him be. He can troll all he wants. LOL

 

@ej89 you do have a point/reason.

 

For?