My 1,217sqm block in East Ipswich

Hi guys,

I have a 1,217sqm block around East Ipswich with a 3bdr brick house on it.



Just thinking of ideas regarding what I could do with this block. I've found some 600sqm battle-axe blocks similar to what i could most likely do that have sold in the area for $140k in recent years.

Some questions:
1) Any ideas what subdivision costs would be? The house is already at the front of the block and there is enough room for a side driveway to create a battleaxe block. It's all on one title though. There are a few trees that would to be cleared too.
2) Any ideas whether I'd pay capital gains if I just sold off the rear portion? I'm guessing this means I haven't yet made a profit and haven't made a CG?
3) Any other ideas of what I could do? I would do a granny flat if it unlocked equity (wouldn't do it just for cash flow) or would look at building a house if that unlocks equity.

My goal is to create equity. Cash flow not (as) important.

Cheers!

 

Build a duplex out back.

Looked at one similar over in Brassall in 2015. House removed, Dual Occ at the front with 3/2/1 duplex pair out back.

 

Thanks for your input. I'd probably keep the house at the front as it's fine and I've just renovated it.

To build a duplex at the back, would I need to subdivide the land? Any ideas on rough subdivision costs and build costs for a basic duplex?

Cheers

 

Call Ipswich council and speak to a town planner. You shouldn't need to subdivide

 

Hi guys, looks as though I have the option of subdividing or building another house.

Just wondering if anyone has rough costing on the construction of a basic 3bdr house, or if you could point me in the right direction? In this area I wouldn't build anything special...

 

BMT construction costs should give you some estimations

Depending on spec and location, cost for Single level dwellings can range from $900p.sqm to over $3000.

 

@Jmillar have you decided what to do with this large block? Have you found out the subdivision costs and building costs?

 

Definitely duplex out the back I reckon, could potentially add a granny flat to the front property too like @Sonamic suggested.

 

@Jmillar how did you go? I have a 1,065sqm block in ipswich council area but haven't figured out what to do with it yet.

 

Ipswich is pretty crappy on the dwellings per hectare... I remember 10-15 dwellings per hectare for residential low density zone.
I don't think we can put a 'duplex at the back' if it's LD zoning, even its 1200m2

 

We have just built a 3 bedroom + 1 Bath and it was $150k, nothing special as its our rental property.

 

Did you go through a local builder or one of the project home builders?

 

Hey, I drafted the house plans myself, after speaking to a few real estate agents I got a good idea as to what people really would like in a house. Contacted the builder he sent all my details to the drafter, which she then drafted the house and I paid directly through her, which no mark up from the builder. I believe doing it this way makes the process so much quicker as as the builder isnt involved until the plans are complete. I also got to select the tiles, fixtures and appliance brand I wanted. Im quite fussy, which he was happy to accommodate. Project home builders made it very hard to put an extra sink in the butlers pantry and other things with tiles in the bathroom so I said seeya to them asap!

 

Nice work! Was thinking of possible adding a removable house but might end up the same costs. How long did the whole process take you?

 

2 weeks planning, 4 weeks council and 16 weeks build time.

 

what's the size of your land and how big is the house? 12 squares or more?

 

Good on you!
where did you build? would you mind sharing whom the builder is?