My Feaso / Development checklist

After chatting on an earlier thread - I thought I would share some tips from my years of research and experience
This list is by no means exhaustive or correct, so looking forward to any contributions for other considerations I have likely left out.

Due Dilligence
Feasability cost analysis
access to water
access to sewer
arborist visit
council planning proposal
storm water – land surveyor / engineer
soil test
talk with neighbours about trees
council open space fees
discuss with council other fees?
take out appropriate insurance
easement costs
ask council what planning controls/policies are in place for site
Market research
Preliminary design meet
preliminary sketch designs
preliminary construction cost
Discuss with accountant tax ramifications / options
What is my ROI – Should we go ahead and do this

Plans / permits
ensure concept & planning permit plans are done by a drafty / architect – get quote from drafty for concept/planning & working drawings all at once
ask council for planning application checklist
get town planning application drawn up
Water to stamp plans
Landscape plans
Arborist report
build over easement permit
town planning drawings
submit for planning approval
contact neighbours / advertising period
receive copy of endorsed plans
Get electronic copy of planning drawings
working drawings
engineering drawings – structural
drainage drawings
landscape drawings
surveyor fees
6 star report
Legal point of Discharge

Marketing - if applicable
artist impressions
photos
mktg plan with agent
mktg brochures & budget
list with agent for pre sales

Finance
initial finance
construction finance
receive current and end valuation
Joint partnership or trust or other
get finance approval


Service Approvals
Prepare water connection
Prepare electricity connection
gas
Ph & NBN
prepare power authority connection
receive power authority offer back from power company
accept power authority offer
confirm electricity connection

Pre Demolition checklist - if applicable
Disconnect all services
sewer capping
electricity abolishment
Tenants notice to vacate
scrap report for tax
sell materials / shed
organise crossover permit
boundary fences
receive house removal permit
remove house etc
temp fencing
TPZ fence
reassess insurance needs

PreConstruction Checklist
receive detailed quotes / tender from builders
builder background check / previous work
sign building contracts
receive building permit
receive copy of building insurance policy
public liability insurance

CONSTRUCTION
start construction
base stage complete
frame stage complete
lockup stage complete
notify land surveyor – do final measurements
fixing stage complete
construction complete
final payment


Council Authorities Certificates
receive endorsed plans from council
get certification for sewer
get certification for drainage
get certification for water
get certification for electricity
get certification for gas
get certification for phone
get certification for NBN
get certified plans from council
xover bond back from council
landscape inspection from council – endorsement
Obtain Certificates of Occupancy
Titles registered
Use a property lawyer / solicitor – not just a conveyancer
solicitor conveyancer progress titles subdivision
use Land surveyor to progress subdivision
Final council inspection of drainage & paving
Account for all certificates required for loading to council spear website


FINALLY
get new insurance
quantity depreciation report done
organise owners corporation management
Landlords insurance
once tenants are signing / ascertain if they are wanting landline (get them to contact telstra for new ph # - get madison box / final ph wire up connection


TAX considerations
land tax
gst
cgt
etc

 

A big thing that is missing - getting permission from the bank to demolish the existing house. The house pretty much belongs to them and demolishing it can have ramifications on the loan if it drops the value of the site and you were using rent from the site for serviceability.

 

Good list. I would add:

Asset protection permit
Protection works notices if building on boundary
Hoarding / public protection permit for front fencing

Start building relationships with the neighbours as early as possible, can make a huge difference.

 

This list in incredibly helpful for a rookie developer, Thank you!

 

Your list has included a large array of things I would have overlooked, great to have your point of view and really pleased you shared your knowledge and experience with all of us. Thank you

 

glad to assist

thanks for the other tips

 

one major one - before you have even started with DD is the discussion with your lawyer and accountant to establish the best entity for ownership and development.

Not much point in purchasing the property, just to discover that you should have bought in a different structure, and your now liable for twice the tax you could have been (eating all the profits), and are placing your entire wealth at risk through poor structuring.

Ive also seen people find the 'perfect' property, then have to go and establish the entity before being able to make and offer, by which time, the property is sold (and in fact we have nearly been guilty of this ourselves)

PPPPPP (prior planning prevents pi$$ poor performance)

Blacky

 

Thanks so much! Just getting started!