Selling Land/Subdivison Vs Renovating and Selling - Ingle Farm SA

Discussion in 'Property Information Resources & Tools' started by Zizos, 9th Aug, 2019.

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  1. Zizos

    Zizos New Member

    Joined:
    9th Aug, 2019
    Posts:
    2
    Location:
    Ingle Farm
    Hello,

    Hoping I can get some assistance and advice please.
    I own a property in Ingle Farm on a 630SQM block with 18m Frontage. Sounds perfect for the current appetite for subdivision in the area, however I am not interested in doing the development for this and would prefer to sell to an investor. Problem is, I obviously want to make the most out of the sale for the next purchase, and selling the house as it is to an investor won't net me enough without doing some significant repairs and renovations.

    Advice required - Am I better off doing the renovations and aiming to sell to a home owner or property investor to rent OR can I set the sale up for a subdivision of land without actually doing the demolish and so on.

    Any further comments or suggestions would be much appreciated. Thanks
     
  2. Westminster

    Westminster Tigress at Tiger Developments Business Member

    Joined:
    13th Jun, 2015
    Posts:
    6,542
    Location:
    Perth
    If you think that the main person buying it would be someone who would demolish and split then there is little point doing a renovation but you need to be sure about that.
    I see owners all the time that want the profits of a development block but not the risks and you really have to accept that if you don't want to do the development then you need to sell it at a price that leaves profit for the developer.
    Talk to a few real estate agents in the area and determine what the end values are for selling as is and selling it renovated and work from there.