NRAS and income vs growth

@euro73 thanks for the explanations . I have been looking at wagga, but even there the price of land is high now. Spoke with few agents and there seems to be a lot of stock on the market. I plan on doing a lil road trip so i can get a feel for the area. Numbers make sense even with higher cost of land.

@Perthguy and @Pentanol where are you guys building/doing dual occ?
Perthguy i would assume Perth? hehehe

@Pentanol out of curiosity, how much is it costing you per sqm to build? i cant seem to keep the cost under $1500.

I have been thinking to invest there now as it is cheap

 

Yes, Perth for this project. The only reason is that it is my first development, I wanted to start close to home and I already had the land the build on at the back of a renovated IP.

 

Swing by Orange and Bathurst on the way...I think you'll be pleasantly surprised by both.

 

Currently considering my options at the moment. Still deciding whether to wait to subdivide one in Logan or go a new dual occ in the regional area. Will let you know when I decide!

 

There are many members who confuse subdivision and dual occ. Dual occ, as the name implies, is dual occupancy- meaning more than 1 dwelling on a single title. In this case, 2 dwellings on 1 title. Banks happily lend for 2 on 1 title, to 90% for investment purposes- subject to servicing and credit scoring etc etc etc.... . Several will even lend for 3 on 1 title, and a very select few will lend to 4 on 1 title. The key is - there is just one title.

When you subdivide you are splitting 1 title into 2 titles; hence the word subdivide so each dwelling becomes a single occupancy dwelling on its own single title.

This can certainly be a great way to go... as long as you understand the costs and time involved in this strategy are the biggest difference. In NSW a detached complying dwelling ( meaning 60M2 or less) requires no council approval or subdivision at all....