In terms of a subdivision of a small parcel of land (ie an acre or two) what's the difference between Body Corp, Private Road and Public Road, and can their original setup be changed?
Near to us there is a subdivision of 6 blocks of 400sqm that were sold as vacant lots where owners contracted their own builders. They went for a BC setup. Driveway is on the RHS and all properties are on the LHS.
About 500m from them is another 2 developments - one 4 bocks of 400-500sqm which is a private road with driveway on the LHS and blocks on the RHS. The third development is 6 blocks with blocks on both sides of the driveway and land of similar size that is a public road.
What is interesting is over the last 3-4 years all 3 subdivisions have been built on with similar quality houses, however the setup with the BC has had the least CG.
There is now a home for sale in the BC development, the agent has said that a number of BC members are regretting going down the BC path, so is it possible to convert a BC to a private road? The conversion of BC to private road isn't a make or break decision for us, but it certainly would be a nice equity bonus if it could be done (or if the perceived value increase exists) - what do others think?
Cheers
Buddybee
Near to us there is a subdivision of 6 blocks of 400sqm that were sold as vacant lots where owners contracted their own builders. They went for a BC setup. Driveway is on the RHS and all properties are on the LHS.
About 500m from them is another 2 developments - one 4 bocks of 400-500sqm which is a private road with driveway on the LHS and blocks on the RHS. The third development is 6 blocks with blocks on both sides of the driveway and land of similar size that is a public road.
What is interesting is over the last 3-4 years all 3 subdivisions have been built on with similar quality houses, however the setup with the BC has had the least CG.
There is now a home for sale in the BC development, the agent has said that a number of BC members are regretting going down the BC path, so is it possible to convert a BC to a private road? The conversion of BC to private road isn't a make or break decision for us, but it certainly would be a nice equity bonus if it could be done (or if the perceived value increase exists) - what do others think?
Cheers
Buddybee
