Duplex Addict - Rockstar No.4
- Thread starter Rockstar
- Start date
Frames and Trusses delivered last week. Truck got bogged in the sand and was pulled out by another truck that came in shortly after with hardwood delivery.
Chippies began framing this morning until getting washed out with rain around 12.30pm. Still raining now but looks like it will clear for tomorrow. I managed to dress some of the hardwood for carports and verandahs but still plenty of sticks to go.
Chippies began framing this morning until getting washed out with rain around 12.30pm. Still raining now but looks like it will clear for tomorrow. I managed to dress some of the hardwood for carports and verandahs but still plenty of sticks to go.
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Hi Murph, below is the labour quote from my chippie. He worked for me on the last house and I was very happy with his team's work. He has worked a lot for project builders and has a builders licence himself. He is reliable and extremely efficient and I am happy with his price since he works so well.
My plumber works on hourly ($66) and my sparkie quotes for the job. Gyprocker quotes whole job and we do our own painting. Tiler and roofer work on hourly rate as well. ($40)
Trusses are now up and frames for verandahs and carport have begun. Plumber will rough in today and I will continue dressing and oiling hardwood. Chippies will be back next week to finish all hardwood skillions ready for a roof by the end of next week.
Rain predicted for Mon and Tues with an expected low to develop off the coast.
Rain predicted for Mon and Tues with an expected low to develop off the coast.
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Thanks Rock,
Been an interesting read for someone considering a duplex/triplex for their next venture into madness.
Been an interesting read for someone considering a duplex/triplex for their next venture into madness.
Good progress this week despite some rain delays. Chippies finished the carports and verandahs as well as fixing windows. All tie downs were completed and I have booked a frame inspection for Monday. Fascia and gutter went on and roof battens screwed down.
Roofers came today and we put a lid on both houses. They still need to return to srew them off and fit the barge capping. Sparkie is coming to do rough in on Monday and the chippies will begin cladding and eave linings. Gyprocker also coming to measure up and quote.
All is on schedule and on budget.
Roofers came today and we put a lid on both houses. They still need to return to srew them off and fit the barge capping. Sparkie is coming to do rough in on Monday and the chippies will begin cladding and eave linings. Gyprocker also coming to measure up and quote.
All is on schedule and on budget.
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hi Rockstar,
could you please tell me again how you got finance for it? I read the first few posts but have a few more questions.
Did you get the mortgage for the land + construction together at the time of your land purchase?
Did you have to present your feasible study, etc.?
I'm in a situation where we've just gotten our offer (potential dual occ site) accepted! We've got a pre-approval a while ago for a normal investment loan. The bank doesn't know we're buying a potential dev site. Did we stuff up big time?
could you please tell me again how you got finance for it? I read the first few posts but have a few more questions.
Did you get the mortgage for the land + construction together at the time of your land purchase?
Did you have to present your feasible study, etc.?
I'm in a situation where we've just gotten our offer (potential dual occ site) accepted! We've got a pre-approval a while ago for a normal investment loan. The bank doesn't know we're buying a potential dev site. Did we stuff up big time?
Good question.
Hi jsoe,
The current project was funded by a 200k loan from a friend - roughly 80% of land value. The remaining 20% land cost and the construction costs are being funded by the sale profits of the last duplex. No bank is involved although I did at one stage have approval for a 60% loan from bankwest for the land purchase.
My first and second duplex project is probably the closest to your scenario. We first obtained a loan of 80% for the land. Once the land settled we presented a building contract to the bank for construction of two houses on the land and obtained approval for an 80% loan of the construction value. This was firstly done through CBA and the second duplex was through St George. We still hold the second duplex with 2 loans totalling 555k for land and construction. You could probably increase the loan on completion and reval as long as you can prove serviceability.
We have only sold one OTP. This was to a family member. Another was sold during construction and the first two were sold after completion. I have never used development finance - only standard investment loans. ie: I always have a view of holding for the longer term. It just so happened that I had to sell some off to access capital gains to help fund new investments.
All progressing well since last update.
We now have finished cladding and painting outside has begun.
Plumber has done all stormwater prep and internal rough in ready for wetsealing.
Gyprockers will finish on thursday.
Concrete will be poured for carport and verandah slabs on Thursday.
Wetsealing done on Friday.
Fixout will be done early next week and internal painting will begin.
Tomorrow I will order tiles and kitchens.
We now have finished cladding and painting outside has begun.
Plumber has done all stormwater prep and internal rough in ready for wetsealing.
Gyprockers will finish on thursday.
Concrete will be poured for carport and verandah slabs on Thursday.
Wetsealing done on Friday.
Fixout will be done early next week and internal painting will begin.
Tomorrow I will order tiles and kitchens.
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Still progressing well.
Gyprockers finished
Fixout done
Internal painting begun
Internal driveways poured today
Wetsealing done
Tiles and kitchen coming next week
Fortunately no cost blowouts yet. All on (or even below) budget.
Gyprockers finished
Fixout done
Internal painting begun
Internal driveways poured today
Wetsealing done
Tiles and kitchen coming next week
Fortunately no cost blowouts yet. All on (or even below) budget.
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Hi everyone,
I am researching building a duplex in Maclean area, NSW, Clarence Valley council. If you have fairly level land, some project homes come in very cheap eg. Coral Homes Freshstart series cost about $104k in Brizzie, $117k in Clarence Valley, not sure about Sydney prices but they are probably similar. This is for a 3 Brm brick and tile home + ensuite, double garage: 140 - 150 sq.m house. Of course site costs, DA council costs etc are extra. But at that price, it saves a lot of work. Best of all the banks like builders contracts, and we hope to get a 95% loan from CBA. For a kit home or owner builder there is not much around at all in the way of finance.
Rockstar, I wonder did you find that attached duplexes ended up being cheaper to build than detached ones? We are having trouble fitting 2 of these Coral homes on our preferred block, and might have to go for an attached duplex. We are about to get quotes from some local builders for this.
I am researching building a duplex in Maclean area, NSW, Clarence Valley council. If you have fairly level land, some project homes come in very cheap eg. Coral Homes Freshstart series cost about $104k in Brizzie, $117k in Clarence Valley, not sure about Sydney prices but they are probably similar. This is for a 3 Brm brick and tile home + ensuite, double garage: 140 - 150 sq.m house. Of course site costs, DA council costs etc are extra. But at that price, it saves a lot of work. Best of all the banks like builders contracts, and we hope to get a 95% loan from CBA. For a kit home or owner builder there is not much around at all in the way of finance.
Rockstar, I wonder did you find that attached duplexes ended up being cheaper to build than detached ones? We are having trouble fitting 2 of these Coral homes on our preferred block, and might have to go for an attached duplex. We are about to get quotes from some local builders for this.
Yes they are cheaper, Seaview but are less private and you cannot have windows on the shared wall. This restricts them a bit if you are trying to satisfy BASIX and passive solar design. Saying this, if your block is too small you can't be too fussy.
My 1st duplex project consisted of 2 modified coral homes - side by side on a 980sqm block. They were around 150sqm each including dble l/u gar. 3 bed + ensuite. The project cost 580k and we sold them for 403k and 385k. Rental value was around 380/wk each on completion.
I know a guy who has recently built a duplex on the mountain at Maclean. Not sure if he has sold them yet as I haven't spoken to him for nearly a year. It's a beautiful little town - just make sure you avoid the flood areas.
My 1st duplex project consisted of 2 modified coral homes - side by side on a 980sqm block. They were around 150sqm each including dble l/u gar. 3 bed + ensuite. The project cost 580k and we sold them for 403k and 385k. Rental value was around 380/wk each on completion.
I know a guy who has recently built a duplex on the mountain at Maclean. Not sure if he has sold them yet as I haven't spoken to him for nearly a year. It's a beautiful little town - just make sure you avoid the flood areas.
All of my roofwater is directed into rainwater tanks. From there it is piped under the battleaxe entryway and is directed into a council inter allottment stormwater pipe which was installed by the developer of the estate. The grated pits in the driveway seen above catch driveway runoff and direct it to the same pipework. No water will be directed into neighbours property.
Update
Hi Rockstar, thanks for sharing your experiences with us.
Do you have an update on this one? I see you've started no.5.
Hi Rockstar, thanks for sharing your experiences with us.
Do you have an update on this one? I see you've started no.5.
