Can you take a photo of the POS/courtyards? I'd love to see the back.
Sure can. Sometime next week ill load some photos.
Cheers
Oscar
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Can you take a photo of the POS/courtyards? I'd love to see the back.
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.
Oscar
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
been 9 months since this thread.surely development has finished and sold. can fellow somersofties get final sale prices plz
Geoff, could someone get rid of this troll. It's already destroyed another thread.
asking for the prices it sold for. Troll? I don't think so.
asking for the prices it sold for. Troll? I don't think so.
You've asked the question. There is no need to follow up any further.
Hi Morty
The $250,000 includes everything, including fencing landscaping and floor coverings etc. PM me, happy to look at your costings on your next project
Cheers, Oscar
Hi Oscar
thanks for sharing this, very inspiring. Do you build anything similar in QLD ( Ipswich) I have a development site for townhouses but cannot find any builder as cheap as yours so far,
thanks again
Hey MJD,
my costs are lower as i build them (i'm a registered builder). Maybe start a new thread?
maybe you/someone could start a new thread that goes something like
Which state
Number of dwellings: eg 1/3/5+
Cost per sqm
Finish: Low/Med/high
Extras included:
Total cost per dwelling
As of date
Sure..........
im staying out of that one
edit: damn it you edited your original post, now my post sounds like ive escaped from a mental institution :0
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.
Oscar
asking for the prices it sold for. Troll? I don't think so.
geoff said:You've asked the question. There is no need to follow up any further.[/geoff]
Ok. You've asked the question. You were told to ask the question just once. You agreed. Yet you keep coming back to ask the same question. It would appear then that you have a particular problem with this person. That poets like trolling to me.negt said:No problemo
Awesome work Oscar,
How did all the numbers play out . . .did/have you sold or leasing . . .
cheers