From: Jamieson .
Dear Forum,
I would appreciate any thoughts, experiences or advice about an idea I am currently investigating to subdivide off a small lot from our home property to build an IP.
We live in Redcliffe,Qld on an 800m2 corner allotment. I have checked with the council and it is allowable to do this and the minimum size block is 300m2 (which is actually the maximum that we could get without affecting the existing home).
By my estimation we could cover all the costs of subdivision and construction to move-in stage for around $125,000 (basic 3br house). From current sales and rentals I estimate that I could value it immediately at around $165,000 with rent around $200/wk.
This all seems to be a good idea to me - but what do you all think? I am assuming a slab on ground type, brick veneer house is appropriate but a high set would give more living space (garage/s under) and presumable more value if I was ever to sell. What style of house is best?
What level of fittings should be provided? Do we go for cheapness and minimal appliances (ie leave out range hoods, remote roller doors, etc).
Our plan would be to keep the IP then do up our existing old home and sell it (moving on to another renovator).
I think this forum is terrific - have learnt a great deal - thanks everyone.
Cheers
Jamieson.
Dear Forum,
I would appreciate any thoughts, experiences or advice about an idea I am currently investigating to subdivide off a small lot from our home property to build an IP.
We live in Redcliffe,Qld on an 800m2 corner allotment. I have checked with the council and it is allowable to do this and the minimum size block is 300m2 (which is actually the maximum that we could get without affecting the existing home).
By my estimation we could cover all the costs of subdivision and construction to move-in stage for around $125,000 (basic 3br house). From current sales and rentals I estimate that I could value it immediately at around $165,000 with rent around $200/wk.
This all seems to be a good idea to me - but what do you all think? I am assuming a slab on ground type, brick veneer house is appropriate but a high set would give more living space (garage/s under) and presumable more value if I was ever to sell. What style of house is best?
What level of fittings should be provided? Do we go for cheapness and minimal appliances (ie leave out range hoods, remote roller doors, etc).
Our plan would be to keep the IP then do up our existing old home and sell it (moving on to another renovator).
I think this forum is terrific - have learnt a great deal - thanks everyone.
Cheers
Jamieson.
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