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I think for a start you need to look at whether the original purchase is a fair buy. You have to assess the intrinsic value of the land if you will be knocking a place down and the eqity gain from creating a second lot. eg: Here you are paying 250k for an old house and land. You need to make...

Brokers may clarify but my construction/devt loans to date have been max 80% of construction costs. Once you have the land with a loan you have to ask the banks permission to make any additions/alterations, subdivide or demolition. They will have to approve the whole plan to demolish and...