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Link to Property Chat https://propertychat.com.au/community/threads/our-1st-development.753/ Thread continued here...

I agree. I'll be happy if we finish before Christmas! I spoke to my builder and I was at least happy that he's onto it. His approach is to have the sewer and stormwater excavation and connection done before the building permit submission so they will have the PIC number. Thanks for the...

Have a chat to some local RE agents and find other houses with great street appeal in your area, then you'll know what your competing against. The hard structures all look great and with a few plants will come up nicely. I'd definitely paint the side boundary fence though and wonder if...

Thanks Bushy, yep working on that now with the builder to wrap it all up in a fixed price contract:). I'm knee deep in finishings/colour selections as we speak:eek: having fun though. LOL might have to build an extra room at home just to put all our paperwork and samples in :D:D

Hi Claire90 - budget has to be key. As its our 1st development our limitation was what we could afford to borrow and worked backwards to shortlist locations. From there we eliminated states, suburbs/towns that didn't meet our budget and minimum targets we set for growth and yield (but that's...

Yes, our landscaping costs will increase with the addition of boundary fencing and larger trees. Waiting to see how that impacts but suspect it will be minor. As for the holding costs, I had budgeted a project timeline of 18 months and we're 10 months in (lost 3 months at the start thanks...

Thanks Dan but I'm keeping that quiet until we lock in our 2nd development. ;)

Wow Wylie that looks fab! Agree with Wobbycarly totally and perhaps if your benchtop is in okay condition you could resurface it with Rust-Oleum. You can but it from Bunnings and for around $200 it will look like new. https://www.youtube.com/watch?v=OJuAedQrv7g Also I'd consider...

Hi all, Apologies for the delay in posting. It's taken a little time to get through council but we have officially received a planning permit :D Now I can breath again... After the first shake of head from council (computer says noooo), I sat with my builder and drafty and we revised our...

Fantastic outcome, well done for being persistent!

Thanks for the update Westminster, hope all goes well from here. ;)

yep bizarre really, most families have more than one car. You'd think I was asking for a landing strip for the Jetsons:p

Ummm yes, yes and yes! We hit a lot of dead ends before jumping in and won't know if our approach is right until its done. In our search we got to a point of info overload and stopped, pared things back and set some simple rules about what was acceptable and wasn't. After that we kept...

Brilliant thanks for the suggestions Nash13. My drafty is on it and took some pics yesterday, I'll chat to him re non-compliance, nice one ;) I also pulled some stats on vehicle ownership in the area to add to the discussion. Bit of a no brainer really that most new homes have a double garage...

The fun begins Hi folks Just an update on progress. After a sterling effort by our drafty to turn around prelims in 3 weeks, we submitted our prelims to council late Nov and received a "please explain" letter in early Jan. Fundamentally the council has an issue with 2 key things: 1)...

On the (boring) topic of tax, I had a look in my email archive for the correspondence from our accountant when we first contemplated developing, asking how tax is calculated for a developer who holds 2, holds 1 or holds none. Thought I'd share (without prejudice!) just for fun. FROM...

Thanks techie, the thought of Asbestos occurred to me... $30k didnt:eek:

Thanks but it ain't over til the fat lady puts the money in the money in the bank:D Haven't started construction so time will tell re the builder. So far he's been very helpful (and free:D) and we're both focused on the long term opportunities if this is successful. Good luck with your...

:rolleyes: curious how you've seen the comps? LOL have I forgotten who I've shared the address with?:D:D

Hi Sanj, yep am happy with our accountant, he's been with us through some complex stuff for about 10 years. In fairness to him though I've had only high level discussions and I've just recently given him a full set of my P&L. On the topic of CGT vs income tax, we've purchased via a family...