A month has nearly past since I made my last post about this.
So im happy to post theres been quite a bit of progress.
After numerous talks with the Architectural Draftsman (mainly due to me constantly changing my mind and having him redo drawings), we've finally got to the stage where the plans are done and ready to be submitted to the private certifier.
I'm pretty stoked with the results, the draftsman managed to work out how to best lay out the floor plan (using the entire 60sqm) while giving it the house a proper front yard (3m x 8m) as well as a proper backyard (4m x 8m) and making sure my existing house had a backyard of 7m x 15m
.
I've sent these plans to my property agent who reckons that it will rent in the vicinity of $350 to $400 per week given its got its own street frontage and own backyard (the existing house currently rents for $430 per week).
After doing some numbers, if everything works out, i should actually go from negatively geared to positively geared. (I'll show more detailed numbers once I get a firm quote from the builder)
The next step is to talk to more builders, the draftman has already hooked me up with a company so im currently speaking to them, but I'm probably going to speak to some more builders and see what other prices I can get.
In the meantime, here are the floor and site plans
Quick question, I know there are always extra costs involved when it comes to building... whats the general rule of thumb you guys work with for these extra costs?