Titles for units

We just got a detailed quote for the construction of a back unit (we are doing a build & retain/build strata). We will then MAYBE demolish the existing house and build the next two.

The builder is suggesting we don't apply for seperate titles for the back unit which will cost 5k in WApc fees and only lodge the application when we are ready to proceed with the next two units. So lodge an application for all 3 titles in one go which will cost 8k. This makes sense, however what will happen if we don't want to build the next two? Will we basically be stuck with two properties on one title? Any thoughts on this?

 

I have 2 properties on one title. Just have to sell them both at one time or subdivide before you sell

 

I would lodge for all 3 at once. Create more equity instantly

 

How do you sell both on one title? arnt there limitations ?

 

For Sale. 1 lot of rates with 2 incomes. People will line up.

 

Only limitations is you need someone to buy both. Can't split them unless separate titles

 

They will be valued "in line" which means they will be worth less. Subdivide and sell as seperate titles.

Do it all in one go.

If you are in WA I got a good contact who can assist with all this at a modest fee.

 

Definitely, the intention is to sub-divide however we don't know whether to include it in the contract to subdivide the back block first, or to sub-divide when we are ready to sell it off, given we don't know if we are proceeding with the next two. What do you think is best?

 

Depends on a few variables.

Will there be equity available when you subdivide. If yes and you can service the increase I would subdivide and access the equity now to either sit there as buffer and/or use for future investment purpose.

It realy all depends on your short, medium and long term goals as this will determine what you do and when?