Building

[WebBoard]

From: Mike .


Big Block of Land
From: James
Date: 12 Feb 2001
Time: 09:09:04

I've got a block of land in Melbourne, East Doncaster and looking at building 3 townhouses on it. Does anybody have an idea of what I'll be paying for a "standard size" townhouse, three bedroom with ensuite, double garage. I'll probably go with a smaller builder as my guess is that they are cheaper. Does anybody know any cheap good builders in Melbourne area? Thanks. Also, do you think tenants would prefer all double storey townhouses on the block or 2 single levels at the front and double storey in the back. Ie, for views, privacy etc.. What's the best combination. It's a long, narrow(ish) block.

 

[WebBoard]

Michael Croft

Reply: 1
From: Mike .


Re: Big Block of Land
From: Michael Croft
Date: 12 Feb 2001
Time: 16:29:04

Hi James,

Have you tried the MBA or HIA they usually have indicative m2 rates for local areas. You could also try Cordell's which is a Q/S publication at most libraries and probably on line.

Regards, Michael

 

[WebBoard]

Peter L

Reply: 1.1
From: Mike .


Re: Big Block of Land
From: Peter.L.
Date: 12 Feb 2001
Time: 09:29:11

Hi James, Congratulations on your block of land in East Doncaster. East Doncaster is a fantastic growth area. We bought an apartment "StClaire" on the corner of George Road and it has appreciated over 25% in 1 year and Tenants moved in straight away at $250P.w. There is definitely demand in that area.

As far as building on the land I would contact an architect. They have experience in this field and they should be able to advise you on the best design. Kenneth Gatt designed our house for a waterfront block of land and all I can say is he did a fantastic job in the designing and layout of the house. If you want to give him a go call him on 9369 6066 (altona area).

P.s. Let me know how you go and maybe I can buy one off you when its completed.

 

[WebBoard]

Manny

Reply: 1.1.1
From: Mike .


Re: Big Block of Land
From: Manny
Date: 12 Feb 2001
Time: 11:14:53

I would firstly do my research via local real-estate agents to see what each unit (single story) versus a double story townhouse would be worth if you were to sell it (to see if it worth your while to go double story) & also to investigate what has a higher demand in the area in terms of rental... if there is a high demand for rental of double storey tounhouses I would go for them (but I must warn you they do cost more per Square than a single storey)...

Costs for double storey townhouses varies, but it would cost you around $130k each for a 3bed/double garage townhouse... versus around $85k for a single storey 3br/double garage unit, plus the added costs you find with subdividing (Melbourne Water, Electricity supply, etc.)... Now in terms of builders up that end, I have none in mind, but be cautious when dealing with small builders (as although they may be cheaper I found them to take a lot longer to complete the project as they over-commit themselves & try managing their own projects while also doing a lot of the labour work themselves)...

I would look at hiring an architect once you have decided whether to go single or double storey & once you have your council approval take your plans & write up some inclusions you would like (ie. tiled areas, concreting, colour bond gutters?, etc..) & pass it on to as many builders as you possibly can for formal quotes, then when short-listing ensure you get references to contact (as the cheapest isn't always the best way to go) & ensure you have both a start date & an end-date in your contract & a decent penalty if the project isn't completed on time...

Forgot to mention, the price difference between the single storey versus the double storey I mentioned is due to the single storey I was going on a 12 square plus garage, versus a 16-17 square plus garage townhouse, which although the townhouse being larger in size may take up less land than the single story unit itself... but the architect can give you all that information once he/she comes up with the drawings...

That is my quick 2 cents worth, good luck though...

 

[WebBoard]

Jeanette

Reply: 1.1.1.1
From: Mike .


Re: Big Block of Land
From: Jeanette
Date: 13 Feb 2001
Time: 08:42:40

Re your comment 'Small builders take longer' - I wish I'd known this before I started building my last house. I was told by this builder 'We are a small company and don't have much on so we are able to complete the building quicker'. Well here we are 18 months later and guess what - not finished. I won't go with a small builder again. Regards Jeanette

 

[WebBoard]

Manny

Reply: 1.1.1.1.1
From: Mike .


Re: Big Block of Land
From: Manny
Date: 13 Feb 2001
Time: 13:50:35

Well I have also been burnt by a small builder... they took around 10 months to finish 2 units (which they claimed they can complete within 4 months), but the big mistake I did is give them over 200 days completion time & took their word that it is standard for their contracts, & I couldn't charge them for late rent... I must admit, some small builders arent as bad, but I would ensure the contract does have strict time lines (start date & end date) with a decent penalty if the project is completed late...