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Always assume blowout costs :p. Once you knock down the house it won't be neutrally geared. There's interest on 150K + 10K (purchase costs) = 160K - 12K to 15K Knocking down and dumping - 15K Subdivision costs - 20K Houses x 2 - 200K Interest on houses - 10K Extra footings...

That breakdown isn't a well thought out or accurate breakdown/costing :eek:. Oh, and don't forget to add the interest for the land purchase as well as the building costs during construction :p.

JWR, to build a basic home like this http://www.sterlinghomes.com.au/home-designs/villa-and-courtyard/thorngate108/ but as a single carport on a 300sqm block, with very basic landscaping, no verandah, and no extra in footings (CJP is correct about the area being reactive), for 210K to 215K...

Sash, are these places in the Barossa (not responding to you JWR :))?