Subdividing and new build costs

Hi,

I have a 950m2 property in Brisbane's South. Flat land and have previously received advice that there shouldn't be any issues with subdivision. Street also has plenty of properties which have been subdivided.

Just wondering what's the ballpark for subdivision and new build costs?

As for new build, I'm looking at renting it out so looking at the more entry level builds.

Thanks

 

All up subdividing will cost you about $80k. It can vary a lot depending on what has to be built. At a minimum i can’t see it being done under $60k in the ideal case.

You have to pay $30k contributions to council just to have the right to connect to road, sewer, water, power. Then each of those connections must be designed and constructed.

After that, Building a standard 4bedroom home is about $230k to $250k to get it to a turn key rentable situation (with fences and grass etc). You can probably get this down closer to $200k but you would likely be sacrificing rental yield.

I’m working though feasibility of a 1 to 2 split now and the cost are really piling up:

-have to redo the driveway and carport for existing house to get it closer to the fence line as it’s in centre of block

-overhead power is strung across what is becoming the second block, so power to the existing house has to be completely redone, plus the second house power added

-man hole on side walk limits where i can put a driveway

-power pole on street isn’t on boundary but on frontage, also limits driveway position

-existing house has no storm water connection, as it dates back to before stormwater and road sealing, have to add it otherwise new block can’t meet drainage requirements

-There is a drop off a few feet which will require a small retaining wall between the blocks

-despite being grass we have found a huge concrete slab buried about 10 inches (probably a tennis court that was filled over). so all of it has to be removed

Basically all these things need to be somehow sped’d out with a price estimate…