Hi All,
Sorry about the long winded question, though I would like to find out as much details as possible about the following scenario;
I have a PPOR which I would like to enquire about developing. I've been in this house for 5 years, and I know believe there would be value in knocking down and putting a duplex on the block.
Block is 765sqm in Revesby NSW. There is a lot of similar developments taking place in the area, and there seems to be a healthy demand for the product.
My questions are more relating to costs to develop. I know a lot comes down to quality of the finishes selected, but I'm more after cost for things like:
Architect
Surveyor
DA process
Demolition (3 bedroom home with a pool)
Construction of double brick duplex
Water/Gas/Electricity connections
On another note, as this is currently my PPOR, would one of the duplexes at completion remain CGT free, or how is this calculated. What would be the formula to work out taxes to be paid on the second duplex if sold. Is GST payable.
Anything else I have missed, which I assume would be quite a bit.
Your feedback would be greatly appreciated.
Sorry about the long winded question, though I would like to find out as much details as possible about the following scenario;
I have a PPOR which I would like to enquire about developing. I've been in this house for 5 years, and I know believe there would be value in knocking down and putting a duplex on the block.
Block is 765sqm in Revesby NSW. There is a lot of similar developments taking place in the area, and there seems to be a healthy demand for the product.
My questions are more relating to costs to develop. I know a lot comes down to quality of the finishes selected, but I'm more after cost for things like:
Architect
Surveyor
DA process
Demolition (3 bedroom home with a pool)
Construction of double brick duplex
Water/Gas/Electricity connections
On another note, as this is currently my PPOR, would one of the duplexes at completion remain CGT free, or how is this calculated. What would be the formula to work out taxes to be paid on the second duplex if sold. Is GST payable.
Anything else I have missed, which I assume would be quite a bit.
Your feedback would be greatly appreciated.