Doing your own subdivision/development

[Flying Dinosaur]

Howdy lads, I am about to start a subdivison on a 800m2 corner block. It currently has an old house on it that will get knocked down. The plan is to have two seperate titles put on the property and build 2 seperate 4 bedroom, 2 bathroom homes. I was wondering:

Does anyone have any tips or ideas on the best way to apply for subdivision and get approval?
Any recommendations on demolition?
Any experiences in the past on things to do/not to do.
Any recommendations on surveyors/architects/builders/tradesman etc?
Anything else you think could help make this project easier.

Cheers guys.

[Dutchy]

Engage a conveyancer for the subdividing

Have plenty of $$$, these thing cost more than most people initially think

good luck

[whatcha got there?]

you're in for some fun mate. working in finance i've seen a few people do subdivisions.

go and get your plans drawn up and submit for your council approval, that bit seems to take the longest. assume you need a surveyor for this.

also go suss out some conveyancers, run past them what your planning on doing etc, get them to quote you costs on the transfer/their costs etc.

is your land under mortgage or freehold? because if it's under mortgage, wouldnt hurt to let your bank know what your planning on doing and see what their protocol is. I think as long as they have sufficient security remaining, i'm sure they'd be happy to do the partial discharge. but they will charge you for it.

let's just hope you dont hit any snags like some recent clients of mine did. Wanted to subdivide their land into 4 blocks, the power currently connected isnt going to work, so they have to pay ETSA some $9k to have it all re-directed. And ETSA being the lovely lot they are, demand payment before they start the work, and they might not start for 2-3 months!!!

[Psyber]

It cost me about $14,000 and took 14 months in Victoria, during 2007-08, to transfer half an acre from my adjacent land to a 1/2 acre block at the front so I could sell it as an acre.
However it turned a block purchased for $225K into a $380K return. They would never have let me create two titles from one - that's why I had to buy the 1/2 acre block first.
I used professional surveyors who were used to bargaining with the resistant council, and the deal involved offering them a better drainage easement than the one they already had as a sweetener.

[Texas Rattlesnake]

Howdy lads, I am about to start a subdivison on a 800m2 corner block. It currently has an old house on it that will get knocked down. The plan is to have two seperate titles put on the property and build 2 seperate 4 bedroom, 2 bathroom homes. I was wondering:

Does anyone have any tips or ideas on the best way to apply for subdivision and get approval?
Any recommendations on demolition?
Any experiences in the past on things to do/not to do.
Any recommendations on surveyors/architects/builders/tradesman etc?
Anything else you think could help make this project easier.

Cheers guys.

You could always engage a planning consultant who will basically do all th work for you. Depends how much you are willing to spend...

[Flying Dinosaur]

Thanks for the feedback Dutchy, WGT, TR.

There is no mortgage on the property so the bank isn't an issue, finance is ready and available for the development, expecting it to cost 500k+ by the time demolition, subdivision, council approval and the building process is completed, but it is still defintiely a financially viable and profitable exercise.

Have 3 phase power to the property and am planning on copying a similar development around the corner, I have the builders name and have been through the properties but he was employed only for the building of the properties so wasnt able to give me any other details. The owners are overseas according to him and are nearly complete but not sure when they will put on the market. Expect the properties to sell for 500k or so.

I have had small dealings in the property market as well as a background in finance so I am aware of the value and viability of the project but am just a bit slow in pushing the process through due to a lack of experience in the building/development fields.

The builder of the properties around the corner said he would be able to organise the whole project for me but I was hoping on running the project myself to gain some experience in subdivision and development as I have intentions of copying this model with another property I have an eye on.

Does anyone have any recommendations on books to read or websites, along with ideas on tradies/surveyors/conveyancers etc that you have had experiences with. Anybody else's development stories would also be great to hear.

Cheers.

[Lunchcutter]

I've heard from a Town Planner that a soil analysis can cost a small fortune also getting the services connected is not cheap.. must be worth it though with the amount of "average joe's" getting into it (no offence intended)

[asert]

Thanks for the feedback Dutchy, WGT, TR.

There is no mortgage on the property so the bank isn't an issue, finance is ready and available for the development, expecting it to cost 500k+ by the time demolition, subdivision, council approval and the building process is completed, but it is still defintiely a financially viable and profitable exercise.

Have 3 phase power to the property and am planning on copying a similar development around the corner, I have the builders name and have been through the properties but he was employed only for the building of the properties so wasnt able to give me any other details. The owners are overseas according to him and are nearly complete but not sure when they will put on the market. Expect the properties to sell for 500k or so.

I have had small dealings in the property market as well as a background in finance so I am aware of the value and viability of the project but am just a bit slow in pushing the process through due to a lack of experience in the building/development fields.

The builder of the properties around the corner said he would be able to organise the whole project for me but I was hoping on running the project myself to gain some experience in subdivision and development as I have intentions of copying this model with another property I have an eye on.

Does anyone have any recommendations on books to read or websites, along with ideas on tradies/surveyors/conveyancers etc that you have had experiences with. Anybody else's development stories would also be great to hear.

Cheers.

fully look into the capitol gains they can get quite nasty. but essentially gains mean gains you dont pay it unless you make it

[MW]

So you are putting 4 bed 2 bath homes on 400m2 each? No backyard or frontyard then?