Any extra value in reconfiguring a lot?

[Brenda Irwin]

I have an acre of land with house in the middle. Possibly worth $300k.

Thanks to a subdivision in the rear we now have two road frontage and it looks like it would be a simple thing to reconfigure to 4 house blocks but with the current house remaining where it is on all 4 blocks until such time as it needs restumping and then we'd investigate moving it over to one block.

Vacant blocks of the same size are worth about $130k each in town.

We may sell this property but $300k doesn't sound like much if its sitting on potentially 4 blocks of land.

Would we get any extra selling as a house on 4 titles, or its really not worth the trouble?

 

[RPI]

Hi Brenda

$28k per extra lot in infrastructure contributions to the Council
Water and sewerage connections to each block (or septic depending on the part of Lowood)

Application, planning and public notification costs of around $6k on the way in. Add $3-$4k for surveying.

More if you don't want to organise all the service connections yourself.

Hope that helps your sums.

D

 

[Brenda Irwin]

I wouldn't have thought sewer and water would immediately require connecting even though those run right across the front of each block?

My parents built their house across two blocks but they only had one sewerage connection and one water meter.

If I were to move my highset timber house to one block, then I would be looking into sewer/water connections.

$28k each new block seems a bit steep? I was thinking more like $15k.

So not really viable to reconfigure unless I am going to move the house off, clear the blocks (full of fruit trees) and connect water and sewer myself and sell off each block for $130k. Banks mortgage might have something to say about that too.

Thanks for your time.

 

[Kamak]

Is it posiible to get the DA and then sell prior to the works?

 

[RetireRich101]

Is it posiible to get the DA and then sell prior to the works?

Just see if there is a reply to this, ie on sell the DA/permit before the build?
I believe if you submit the DA with building plans, you may be eligible to pay upon when build is actually complete . This could be as long as the 4 yr approval.

Not sure what happens if you onsell with DA/Building down the track. Will the seller or the buyer to pay the infrastructure fee...

 

[Jacko1983]

$28k each new block seems a bit steep? I was thinking more like $15k.

The $28K in Infrastructure Charges isn't negotiable. I just went through this in Mackay and it ended up costing me a lot more then what I had planned.

So far for me
$28K - Infrastructure Charges
$5K - Water Meter Connection
$2K - Sewer Access Point
$3K - Civil Works
$5K - Council application Fee
$10K - Surveyor and Town Planner
~$4K in other miscellaneous costs

I guess you have to work out if you sell each block individually is it going to be worth the time and effort.

 

[Brenda Irwin]

Decided just to finish renovating, move out and put it up for sale as an acre. Would rather look to the future of what I do once moved to a new area and what bargains I can find over there.

 

[RetireRich101]

that is more than $50k for each block, though some costing such as Surveyor/Town Planning can be shared with other blocks in the calculation.

Comparing to other States, is Brisbane the most expensive in subdivision as compared to VIC, WA, NSW?