costs for duplex construction

That sounds cheap for high end, I would have expected more.
Do you know what your total costs will be for evertthing, not including original land purchase?

I really like the look of this one - http://www.realestate.com.au/property-house-nsw-caringbah+south-119762975

Good corner block, 790sqm, not sure if council would allow an exception for torrens title being just 10sqm too small.

Price is probably going to be stupid though.

A block in Saunders Bay Rd yesterday sold for 1,582. Based on that this should achieve 1650+.

Yes, we should do this.
Shire and surrounds.

Count me in!
 
The Domain in the Sun Herald reports 54 Saunders Bay Rd Sth Caringbah 790sqm with 1970s house on sold on Saturday for $1,582,000 after 70 inspections and 14 contracts being issued. Sold to two families who are combining to a duplex. $282,000 over reserve.

$1,582,000 land
$ 60,000 stamp duty
$1,100,000 build/site costs
$ 50,000 holding costs
$ 50,000 agents commission on sale

$2,842,000 min total costs

Other duplex that sold in Saunders Bay Rd in $1.6's had a pool so add on another $100k.

Looking at a bit over $100k profit each family in todays values BEFORE tax.

If market keeps rising at 10% though may be worth there while.
 
The Domain in the Sun Herald reports 54 Saunders Bay Rd Sth Caringbah 790sqm with 1970s house on sold on Saturday for $1,582,000 after 70 inspections and 14 contracts being issued. Sold to two families who are combining to a duplex. $282,000 over reserve.

$1,582,000 land
$ 60,000 stamp duty
$1,100,000 build/site costs
$ 50,000 holding costs
$ 50,000 agents commission on sale

$2,842,000 min total costs

Other duplex that sold in Saunders Bay Rd in $1.6's had a pool so add on another $100k.

Looking at a bit over $100k profit each family in todays values BEFORE tax.

If market keeps rising at 10% though may be worth there while.

That looks a bit too risky considering the gross profit is only 100K per family. Would you say its better to buy a cheaper site in caringbah for 1.2m then build with medium quality inclusions similar to g.field13? and flog them off for $1150-$1250K.
 
That result of $1.62 for the duplex with pool at 43a Saunders Bay Rd seems quite high considering the number on the market and coming onto the market in Sth Caringbah.

Looked at one last weekend at 21a Ultimo St Sth Caringbah for sale looking for $1.3.

Also looked at two at 25 Karoola Crescent Caringbah with both of them going to auction on 25/6 quoting around $1.2 but with very small lounge/dining areas and one arrogant sales agent from LJ Hooker Miranda. Both duplex were open for inspection couldn't get near the sales agent in the first one so asked the agent in the second one, "How much are you expecting for these?" He replies, "What the agent next door told you." Me "I didn't ask the agent next door couldn't get near him." Him, "Comparable sales are on the back of the brochure." Me: "Thanks." Him, "Do you live in the Street?" Me: "No do you?"
 
so this is a question for the developers, how much do you think a duplex like 21a Ultimo St Sth Caringbah would cost to build?
 
so this is a question for the developers, how much do you think a duplex like 21a Ultimo St Sth Caringbah would cost to build?

I would say $1.1K for a decent private builder with high end finishes/facade. Could do for about $900k with a project company with average finishes and fa?ade.

Add Stamp duty plus $50k holding costs plus $50k selling costs plus GST.

Don't think you'd get a duplex site in Sth or Nth Caringbah for under $1.2 these days.

Lets say you did in Nth Caringbah:

$1.2 land
$ 1.1 build/site costs
$ 50k Stamp duty
$ 50K holding costs
$ 50K selling costs

$2,450,000 total costs

In todays market sell for $1,300,000 each or $2.6 less GST. Not great return after tax but if your confident the market will keep rising at lets say 10% with 18 mths till completion these will be worth another $200K each/$1.5K each or another $400K on top. That's what happened with Garret's duplex in Gannons Rd he was looking at $950K each when he started but went to $1,150K 2 years down the track for an extra $400K profit.


Shams if you want to find out exactly how much the duplexs at Ultimo St costs ring the builder 'Futureflip Constructions' they are local.
 
I would say $1.1K for a decent private builder with high end finishes/facade. Could do for about $900k with a project company with average finishes and fa?ade.

Add Stamp duty plus $50k holding costs plus $50k selling costs plus GST.

Don't think you'd get a duplex site in Sth or Nth Caringbah for under $1.2 these days.

Lets say you did in Nth Caringbah:

$1.2 land
$ 1.1 build/site costs
$ 50k Stamp duty
$ 50K holding costs
$ 50K selling costs

$2,450,000 total costs

In todays market sell for $1,300,000 each or $2.6 less GST. Not great return after tax but if your confident the market will keep rising at lets say 10% with 18 mths till completion these will be worth another $200K each/$1.5K each or another $400K on top. That's what happened with Garret's duplex in Gannons Rd he was looking at $950K each when he started but went to $1,150K 2 years down the track for an extra $400K profit.


Shams if you want to find out exactly how much the duplexs at Ultimo St costs ring the builder 'Futureflip Constructions' they are local.

Cheers for that, i'll contact the builder when my architect finishes his drawings to get some quotes. How did you find the builder? ive been going through their da and searching online and couldnt find it anywhere.

I already have a site in Sylvania which i bought about 7 months ago which i picked up for 780K, so there is deff money in it for the duplex's. I'm still trying to decide whether i will keep both for investment or rent one/ sell one. I just think its too costly to sell because of the gst/capital gains.
 
I already have a site in Sylvania which i bought about 7 months ago which i picked up for 780K, so there is deff money in it for the duplex's. I'm still trying to decide whether i will keep both for investment or rent one/ sell one. I just think its too costly to sell because of the gst/capital gains.

How about just sell the site without developing?
The prices right now are just stupid and you may be better off selling for a stupid price now rather than developing.
You could put it to market and have a crazy reserve, and if it doesn't sell, follow through with your development.

But then again, if you intend to accumulate properties long term, may as well develop as you will definitely have some equity there now.
Depends on your investement goals/strategy.
 
Cheers for that, i'll contact the builder when my architect finishes his drawings to get some quotes. How did you find the builder? ive been going through their da and searching online and couldnt find it anywhere.

I already have a site in Sylvania which i bought about 7 months ago which i picked up for 780K, so there is deff money in it for the duplex's. I'm still trying to decide whether i will keep both for investment or rent one/ sell one. I just think its too costly to sell because of the gst/capital gains.

Builders name was on the brochure from the open. Agreed on the GST etc. May be better to hold for 5 yrs then no GST applicable and more Capital Gain along with neg gearing benefits.
 
That result of $1.62 for the duplex with pool at 43a Saunders Bay Rd seems quite high considering the number on the market and coming onto the market in Sth Caringbah.

Looked at one last weekend at 21a Ultimo St Sth Caringbah for sale looking for $1.3.

Also looked at two at 25 Karoola Crescent Caringbah with both of them going to auction on 25/6 quoting around $1.2 but with very small lounge/dining areas and one arrogant sales agent from LJ Hooker Miranda. Both duplex were open for inspection couldn't get near the sales agent in the first one so asked the agent in the second one, "How much are you expecting for these?" He replies, "What the agent next door told you." Me "I didn't ask the agent next door couldn't get near him." Him, "Comparable sales are on the back of the brochure." Me: "Thanks." Him, "Do you live in the Street?" Me: "No do you?"

hahaha that's brilliant, it's hard to believe that agents don't know there product.
That block is way to small for a 4bedder it should have only been a 3bedder. I think its just above 610sqm.
 
hahaha that's brilliant, it's hard to believe that agents don't know there product.
That block is way to small for a 4bedder it should have only been a 3bedder. I think its just above 610sqm.

I think he knew his product was just being smart thinking I had already asked the agent next door and was playing him off. Madness by the vendors auctioning both on the same night though.

610sqm would be ok under the new LEP with a 55 to 1 FSR but yes the lounge/dining in this one very small.

A few us are going to meet up for a chat - about 3pm on a Sat afternoon has been suggested....but thinking your a local RE agent this may not suit you?
 
I think he knew his product was just being smart thinking I had already asked the agent next door and was playing him off. Madness by the vendors auctioning both on the same night though.

610sqm would be ok under the new LEP with a 55 to 1 FSR but yes the lounge/dining in this one very small.

A few us are going to meet up for a chat - about 3pm on a Sat afternoon has been suggested....but thinking your a local RE agent this may not suit you?

Yeah, with the new lep even a 580 will get you a good size duplex. Very intrested to see how council react to the new no minimum lot size.

Would love to join you all as I am looking to do my own duplex soon! Depending on the Saturday, should be able to get there! Let me know.

Also guys if anyone needs any rpdata research PM me!
 
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