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Guys, can I please have your thoughts on the options below ? Option 1: Demolish the house and build the following: 1 double storey 3 bed -> $380,000 comparable sales within 500m of my site 1 double storey 2 bed -> $340,000 1 single storey 2 bed -> $305,000 with Turnkey package I dug up the...

Thanks for your advice.. it's a really good point that I haven't considered before. I guess that's because I haven't thought about selling. At this stage, I am planning to keep them as rentals and just use the equity. I was told before if I intend to sell my project down the track, I should...

Hi Tranquilo, from memory they are, but i will double check.. Thanks for the reminder.

Thanks for your advice westminster. This is definitely a good learning process for me even though I have done a lot of research before. Regarding the end value, I used the numbers from the recent comparable sales and took $10,000 off it just to be safe.

This is what the architect told me and I am still talking to the builders verify it.

Thanks Sanj. there is 5% that I forgot to include in the numbers above. I am still talking to the builders to confirm that.. 100% agree, and I just got off the phone with a builder who told me that I might need to allow for $100k for the alteration (moving the wall back) and renovation...

Spoke to the arctecit again about obtaining a separate building permit to push the external wall in by 0.5m to make the drive away 3m. That's another $3500 for the working drawing and application. :( Hopefully I can get the drawing by late Jan 15 so that I could get someone to start the...

Thanks Teshy.. Best of luck to you as well. It took me 6 months to find a site and I am glad the searching part is over.

Hi all, just went through Brendon's diary and it's so inspiring. :) I have just purchased a potential site in Deer Park ( close to the train station), and decided to start my own diary as well. As the title suggests, this is my first project and even though I have done a lot of home work and...