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WA Perth development sites

Discussion in 'Where to Buy' started by Kieran989, 19th Jun, 2015.

  1. Kieran989

    Kieran989 Member

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    19th Jun, 2015
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    Perth
    Hi guys,

    Novice property developer here.

    Looking at buying first IP around 450k around early 2016. Done a fair bit of reading and I am leaning towards the idea of buying a IP that has been earmarked for rezoning. I would love to sink my teeth into property development as this really interests me.

    I think for my price range I would best be looking for something around the shire of Kalamunda (Forrestfield, High Wycomb etc). Also considering areas around the city of Swan (Midland, Beechboro etc). My strategy would be to hold these property's and until rezoning is approved and I have sufficient funds available to develop.

    For my price range I think I would have to look for potential "house behind house" developments?

    Would love some advice / opinions regarding my strategy, locations, pricing etc.

    Also would love some pointers on what people look for when identifying potential "house behind house" scenarios. I have a grasp on how the zoning works. One thing that has me confused is the side access required. I know that 3.5m is required down the side but wouldn't this be hard to find on existing properties? Or do people like to find properties with a carport on the side and relocate that to the front to allow access?

    Appreciate all comments and advice :)
     
  2. thatbum

    thatbum Well-Known Member

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    I haven't found it too hard to find the side access required. Plus there's corner lots and the like that come up from time to time (particularly in the areas you described). The biggest issue with this strategy though is that you can't be sure when the rezoning will happen, or whether the zoning you get is what you expected in the first place.

    I think you could be making it hard for yourself as a first IP strategy. Developing is hard enough as a first timer and you could be complicating it by adding a rezoning factor to it.

    Have you had a good read through the Rcodes? Essential reading for budding developer in WA.
     
  3. Be Developer

    Be Developer Property Developer Business Member

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    Just had chat with an investor in wa..please consider soft market facot in your feso.

    Prices aren't going up in WA as it was in a past.
     
  4. HD_ACE

    HD_ACE Game-Changer Premium Member

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    Ensure your research and understanding of the R-codes are sound. With rezoning, nothing is garanteed and rules and requirements can change. Also youl find the prices will already be built into the price if your not early enough, which for those suburbs your not.

    One strategy could be to choose a suburb with potential and find large R20 sites for a retain and build. Less competition, more stock.

    Retain and builds will need closer attention for driveway width, council requirements to upgrade existing house, easments and location of services, survey strata or green title.

    Hope this helps.
     
  5. Big Daddy

    Big Daddy Well-Known Member

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  6. Blacky

    Blacky Well-Known Member

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  7. LifesGood

    LifesGood Home Building & Development Consultant Business Member

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  8. Big Daddy

    Big Daddy Well-Known Member

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    Thanks
    A bit misleading as I see the price as 799k and land size listed as 845sqm.
     
    LifesGood and Ross Forrester like this.
  9. LifesGood

    LifesGood Home Building & Development Consultant Business Member

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    It's definitely misleading, they haven't made it overly clear!