hi guys first post so be nice
i am currently in the process early stages of putting a duplex on a relatively flat block in the sutherland shire area nsw sydney
i have run a few costs and if anyone can amend theses or add there personal experiences or if im missing anything
thanks everyone in advance
Purchase price for block $695,000
construction cost for 2 storey duplex $600,000 worked off 400m2 @1500m2 would thise give me a high level finish as the market in the area wants
town planning permit $10,000
building permits$13,000
demo of tiny existing fibro $15000
holding costs on land loan 12 mths $38,000
holding costs on construction loan 12mth $25,000
council section 94 $10,000
waterboard $7000
contingency @5% of construction $30,000
then subdivision $7000
landscape, fences $15,000
Total costs $1,465,000
duplex in the area depending on finish recent sales $900k- $1.2mill
so from these prices i think we could get 950k each
so $1,900,000
which equals
21% profit minus agent fees but we will be keeping 1 for our ppor
my questin is do these numbers look about right am i missing an unhidden fees
i was thinking 1500m2 on 2 story duplex would give me a medium level finish
i am currently in the process early stages of putting a duplex on a relatively flat block in the sutherland shire area nsw sydney
i have run a few costs and if anyone can amend theses or add there personal experiences or if im missing anything
thanks everyone in advance
Purchase price for block $695,000
construction cost for 2 storey duplex $600,000 worked off 400m2 @1500m2 would thise give me a high level finish as the market in the area wants
town planning permit $10,000
building permits$13,000
demo of tiny existing fibro $15000
holding costs on land loan 12 mths $38,000
holding costs on construction loan 12mth $25,000
council section 94 $10,000
waterboard $7000
contingency @5% of construction $30,000
then subdivision $7000
landscape, fences $15,000
Total costs $1,465,000
duplex in the area depending on finish recent sales $900k- $1.2mill
so from these prices i think we could get 950k each
so $1,900,000
which equals
21% profit minus agent fees but we will be keeping 1 for our ppor
my questin is do these numbers look about right am i missing an unhidden fees
i was thinking 1500m2 on 2 story duplex would give me a medium level finish
