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Renting knockdown/complete dwellings before DA complete

Discussion in 'Development' started by hotmustard, 29th Feb, 2016.

  1. hotmustard

    hotmustard New Member

    Joined:
    29th Feb, 2016
    Posts:
    2
    Location:
    Newcastle
    Hi guys,

    Quick question around a multi dwelling development under a DA.

    If I was to buy a knockdown and put in a DA to build 3x townhouses on the land, could I engage a builder to build two to completion and continue to rent out the knockdown house during construction? Then once they are complete rent them out while doing the knock down and building the third?

    Obviously this would only make sense if the building costs didn't go up more than any rental income, but wanted to know if it was possible. Holding costs of the land + 3x complete buildings will really cut into me and I'd like to minimize this as much as possible if I can.

    Thanks heaps everyone
     
  2. Bran

    Bran Well-Known Member

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    Location:
    At work
    What's the likely rent for the period? If it's that tight, should you really do it (yet)?
     
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
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    Location:
    Gold Coast
    all has been done before

    some tennants dont like living on a site....others dont mind much if the price is right

    ta

    rolf
     
  4. hotmustard

    hotmustard New Member

    Joined:
    29th Feb, 2016
    Posts:
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    Location:
    Newcastle
    It's mainly a bit of insurance against a delay in the construction, obviously will do the sums to work out if it's going to save money but wanted to see if it was actually possible first.

    Also, is there a generally accepted minimum access width for construction? The driveway on the property i'm looking at is 3m, would that cause issues with the builders?