We signed to purchase a block of land in April with a delayed settlement.
Rockstar I trust you are reading this thread as we will be building a duplex at the same time again in adjoining Council areas.
Today we submitted the DA after some minor hiccups (said 'thank you' to the front counter Council staff - they were excellent and it makes a difference when staff offer helpful advice and information).
The Owners of the block of land signed the DA for us via Lawyer's office and the Builder is to be advised (TBA) - we are looking at the costs/charges for Owner Builder compared to Builder.
Land 145K deposit 7K
Stamp Duty to OSR $3420 + bank cheque $10
Structural Engineer $1980
DA $7577
Loan for land is 20% equity and 80% lend arranged by MB RL via WBC.
The money to build this duplex build is via a LOC on our PPOR so we avoid the problems of Owner Builder inspections if we go down that track.
Our plan is to build...
1. This duplex refinance LOC security to this property after completion and sell PPOR and move into one side of duplex (then most likely go on an Australian caravan holiday).
OR
2. Start SMSF after June 30th OMG and build another duplex next year.
Now todays minor hiccups were...
The pressure was on to complete and lodge as council staff informed us council fees were going up on the 1st July!
Mistakes - we will definitely make a few.
Sheryn
Rockstar I trust you are reading this thread as we will be building a duplex at the same time again in adjoining Council areas.
Today we submitted the DA after some minor hiccups (said 'thank you' to the front counter Council staff - they were excellent and it makes a difference when staff offer helpful advice and information).
The Owners of the block of land signed the DA for us via Lawyer's office and the Builder is to be advised (TBA) - we are looking at the costs/charges for Owner Builder compared to Builder.
Land 145K deposit 7K
Stamp Duty to OSR $3420 + bank cheque $10
Structural Engineer $1980
DA $7577
Loan for land is 20% equity and 80% lend arranged by MB RL via WBC.
The money to build this duplex build is via a LOC on our PPOR so we avoid the problems of Owner Builder inspections if we go down that track.
Our plan is to build...
1. This duplex refinance LOC security to this property after completion and sell PPOR and move into one side of duplex (then most likely go on an Australian caravan holiday).
OR
2. Start SMSF after June 30th OMG and build another duplex next year.
Now todays minor hiccups were...
- BASIX was done on duplex as one building instead of 2 separate buildings even though attached dual occupancy and not strat'ed as yet.
- Statement of Environmental Effects - online 1 page document from council website was filled out for minor development and when second planner checked this morning we were told we had to write a statement for each anticipated environmental impact (adverse or beneficial) mad scramble to write this today.
The pressure was on to complete and lodge as council staff informed us council fees were going up on the 1st July!
Mistakes - we will definitely make a few.
Sheryn
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