I'd appreciate if someone was able to steer me in the right direction. I have a property currently with a run down premises ready for demolition. It is on a R2 zone block within Parramatta City Council. 1095m2 size with 24.5m frontage. I am unsure if I would build a duplex or just regular house. Where would I be able to find costs? Should I go with a big name builder or someone else? Where do I find these builders? Should I consider prefab like modscape? I just really don't know what I should be doing.
That sounds like it's gold. I'd suggest engaging a private town planner who has a lot of experience with properties in Parramatta council. I'd suggest it's very possible you could build more than a duplex.
as Gockie says ,its totally worth hiring someone-paying to know the best use for yr land from someone who is experienced in Parra ! Well done by the way -you have a potentially lucrative deal there!
And then cost out a few alternatives. Keep or sell ? The other option is to sell without building but with approved DA. It can be faster, use no cash and still produce the bulk of profits as there often isnt a lot of profit in small build and sell.Often the value is in the land, not always. Important to seek tax advice on the options too as ALL options come with tax consequences such as income tax & GST. If you can save $1 of GST its adds to profit.
