They are quite small. I estimate that it would be around 280k to build. Oscar is doing a lot of the work himself thus the lower cost
3 Unit Development - Epping (Vic)
- Thread starter oc1
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They are quite small. I estimate that it would be around 280k to build. Oscar is doing a lot of the work himself thus the lower cost
The block is 495m2, so not big at all. It's a very effective use of the land that's for sure
Being a corner block helped.
Cheers,
Oscar
Thx for the inspiring thead Oscar
But I am confused and probably its a onvious one..is there a requirment that it has to be 300m2 for each new block so u would need o have around 900m2 for 3 dwellings?
Hi all,
This is my latest development with construction beginning next week. I’ll be building three 2 bedroom units. At the moment it’s vacant land (corner block) located in one of the subdivisions in Epping Victoria. I bought it in January this year and just settled a few days ago. It already had an approved Town Planning Permit – or DA as it’s known in most other states. Finance is approved based on 65% of end value. At the moment the numbers look like this:
Initial costs
Land: $308,000
Stamp duty/legals: $16,000
Council Application Fees: $1000
Land Surveyor costs: $3,500
Total Costs: $328,500
Construction
Total build: $250,000
Working drawings/engineering/soil report/energy report and Building Permit: $10,500
Subdivision (open space levy in Victoria): ZERO as it is new land where the original land developer pays
Interest: $13,000
Bank app fee: $2,500
Titles & legals: $2,000
Total Construction cost: $278,000
COMBINED TOTAL (LAND & CONSTRUCTION): $606,500
The units would have a combined value of about $840,000 in today’s market. I reckon these will take about 4 months to knock up if all goes well. They are about 70m2 each in living space and single story. Rents would be around $850 pw. I’m sure the figures will vary as they normally do.
I’ve attached pics/images of the land as it looks today and the floor plans. I’ll put up some more pics as it develops. The plumber is in next week to do the underground work, followed by the concrete guy right after that – weather permitting
Cheers, Oscar
250.000 build dreaming
He is a builder so he will do it at near-cost.
It depends on the council requirements and the future plans they have in place for the particular suburb. Epping, Lalor and Thomastown are seen as 'hub' areas because they are close to transport, major shops, facilities and schools. Therefore the council allows much smaller lot areas to promote growth in these established areas.
As I said though, it all depends on the councils direction (as part of the Melbourne 2030 strategy) as to which suburbs they will allow this to happen in.
Not long ago, I valued a property in Epping with a lot size of 410sqm and approval for 3 units!!
Selinarra
That's right. If you are engaging a builder you will obviously pay more. That's a given. I don't do any hands on work though. As with anything the more you do it the better you get. And with building you work out where to save money too.
VCDenton, you will need to look at each property to see whether there are any zonings/overlays that restrict building. If it's a regular Res Zone 1 you need to comply with ResCode (Vic's planning code)- so no minimum building envelop. Check out this website. http://services.land.vic.gov.au/landchannel/content/addressSearch Just punch in the address and you will have the info you need. This is the very first bit of research i conduct.
There are areas in Melbourne where i have achieved approvals to build 4 dwellings on a block the size of 600m2 and times when i have needed 1000m2. Council's will sometimes apply there own planning rules which restricts you e.g. Maroondah - They require a larger private open space (backyard) 80m2 rather than the rescode requirement of 40m2.
Oscar
Update.
Plumber came in on Monday and completed the underground work, including the stormwater. Also got the water tapping done. Concreter was in Tuesday. All was going well with the pre-slab work until we hit rock. Then more rock. It became an issue when larger rocks were located where the rebate was going to be. So today we had the excavator in breaking all that rock. I have attached a pic which shows most of it. Some of the rocks were much bigger. Oh well, part of the job.
The Easter break will pause things but we should have the slab completed this time next week, weather permitting.
Oscar
Plumber came in on Monday and completed the underground work, including the stormwater. Also got the water tapping done. Concreter was in Tuesday. All was going well with the pre-slab work until we hit rock. Then more rock. It became an issue when larger rocks were located where the rebate was going to be. So today we had the excavator in breaking all that rock. I have attached a pic which shows most of it. Some of the rocks were much bigger. Oh well, part of the job.
The Easter break will pause things but we should have the slab completed this time next week, weather permitting.
Oscar
Attachments
OK. You need to design the dwellings so that they are cost-effective. This saves a lot of money. You need to source the material at good prices, not like an owner builder. This comes with experience and contacts. You also need quality trades and at prices which are fair (no, not cheap and nasty). And your trades should also be able to give you advice on how to reduce costs.
I have helped many developer clients where we have gone back to council to amend previously approved plans (DA) before commencing construction. As a developer you may not be able to see such finer points. I know i certainly didn't when I started out.
Oscar
Is the land in a new estate?
Personally I don't know many builders who actually build.
My builder is actually a Town Planner who got his builders license so that he could do building and now has his own tradies, building supervisors, prestart consultants, designers etc.
Being a builder most days is being a project manager. I think one of the biggest skills is scheduling tradies so that the work schedule flows and finding good tradies.
Hi all,
This is my latest development with construction beginning next week. I’ll be building three 2 bedroom units. At the moment it’s vacant land (corner block) located in one of the subdivisions in Epping Victoria. I bought it in January this year and just settled a few days ago. It already had an approved Town Planning Permit – or DA as it’s known in most other states. Finance is approved based on 65% of end value. At the moment the numbers look like this:
Initial costs
Land: $308,000
Stamp duty/legals: $16,000
Council Application Fees: $1000
Land Surveyor costs: $3,500
Total Costs: $328,500
Construction
Total build: $250,000
Working drawings/engineering/soil report/energy report and Building Permit: $10,500
Subdivision (open space levy in Victoria): ZERO as it is new land where the original land developer pays
Interest: $13,000
Bank app fee: $2,500
Titles & legals: $2,000
Total Construction cost: $278,000
COMBINED TOTAL (LAND & CONSTRUCTION): $606,500
The units would have a combined value of about $840,000 in today’s market. I reckon these will take about 4 months to knock up if all goes well. They are about 70m2 each in living space and single story. Rents would be around $850 pw. I’m sure the figures will vary as they normally do.
I’ve attached pics/images of the land as it looks today and the floor plans. I’ll put up some more pics as it develops. The plumber is in next week to do the underground work, followed by the concrete guy right after that – weather permitting
Cheers, Oscar
Hi Oscar
Thanks for sharing, good work, I wish you were in Perth
The location of the rocks was the biggest problem. Easy problem to fix once you throw a bit of money at it.
ok they are like 70sqm per unit so really there's the reasoning behind the cost
when i think subdivision i always think more like 130-150 sqm 3-4 bedrooms with a single or double garage.
Update
Today was one of those happy days - the concrete was poured and slabs are now complete. I have attached a couple of photos for viewing.
Now the rest of the build can run pretty quickly. The carpenter starts tomorrow with the wall frames followed by the roof truss. Fascia, guttering and roof tiles soon after that. Could do with more sunny days like today
Cheers Oscar
Today was one of those happy days - the concrete was poured and slabs are now complete. I have attached a couple of photos for viewing.
Now the rest of the build can run pretty quickly. The carpenter starts tomorrow with the wall frames followed by the roof truss. Fascia, guttering and roof tiles soon after that. Could do with more sunny days like today
Cheers Oscar
Attachments
Update
Today was one of those happy days - the concrete was poured and slabs are now complete. I have attached a couple of photos for viewing.
Now the rest of the build can run pretty quickly. The carpenter starts tomorrow with the wall frames followed by the roof truss. Fascia, guttering and roof tiles soon after that. Could do with more sunny days like today
Cheers Oscar
Happy days, so when will it be completed??
One thing that stuck with me was that you mentioned the design is very important and will save money if you get it right. How long has it taken you to get this right or find the right person to work with.
I am currently looking for someone to design my drawings, I am also mindful that you can pay too much for this???
Cheers
Marisa