Things to consider when redeveloping an old house & land for subdivision ?

Discussion in 'Development' started by AlbertWT, 19th Jun, 2015.

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  1. MTR

    MTR Well-Known Member

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    My World
    Spearwood, WA - 3 villas. Have a thread on Somersoft detailing numbers, end value total $1.533,000

    Currently 2 projects in Melb, Thomastown, building 4 townhouses

    Latest purchase - Croydon, Melb, architect preparing DA - 5 townhouses

    Mtr:)
     
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  2. Tekoz

    Tekoz Well-Known Member

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    Well done MTR ;)... that's the way to go.

    I guess you've read the market investment clock before you've started the build phase.

    [​IMG]

    So, based on the picture above, it would be better off to skip Sydney or sell the developed product, while building in the "Rising Market" areas ?
     
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  3. Perthguy

    Perthguy Well-Known Member

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    Provided there is demand for that product then this is an excellent strategy. For the areas I am looking at, purchasers are expecting more for their money and will pay a premium for higher quality products, so it works out well to build a better quality product without going overboard.
     
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  4. MTR

    MTR Well-Known Member

    Joined:
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    Built in Spearwood, WA - 3 villas all sold
    Demolished house, corner lot, split into 2 lots - sold off land - Kardinya, WA

    Currently
    Commenced building Thomastown Melbourne - 4 townhouses (expected end date Feb 2016)

    Melb, East - architect working on plans and permits for 5 townhouse

    MTR:)
     
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  5. MTR

    MTR Well-Known Member

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    That's good.


    when markets go bust regardless of quality, buyers are not around, so may have to hold, I guess that's ok if cash flow positive. Trying to mitigate this risk.

    Happy I have offloaded Perth developments now that the market is soft.

    MTR:)
     
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