My Duplex Development near "parramatta"

[westminster]

Just in terms of economy of scale I found (not always) that the costs can be spread among more dwellings but the profit margin is better.

Whats your experience in this?

Cheers

Sometimes there is, sometimes there isn't. Sometimes it's better to do a simple 4 which allows simple construction, than 5 which might work mathematically with the plot ratio but ends up with more complicated rooflines and impacts on amenities for the others.

But generally it's better because the cost of the land/original cost is divided over a greater number of units. Gwelup could have been 3 or 4, but at 4 the risk was a lot less when doing the numbers on 1/4 of the land cost vs 1/3rd of the land cost.

Was it just the price wasn't right?

I very rarely offer over asking price so yes I didn't get them because I didn't offer high enough. There is always another deal around the corner.

 

[LeoT]

[QUOT=wfstminster;1222723]Sometimes there is, sometimes there isn't. Sometimes it's better to do a simple 4 which allows simple construction, than 5 which might work mathematically with the plot ratio but ends up with more complicated rooflines and impacts on amenities for the others.

But generally it's better because the cost of the land/original cost is divided over a greater number of units. Gwelup could have been 3 or 4, but at 4 the risk was a lot less when doing the numbers on 1/4 of the land cost vs 1/3rd of the land cost.

Yep makes perfect sense.


I very rarely offer over asking price so yes I didn't get them because I didn't offer high enough. There is always another deal around the corner.[/QUOTE]

I'm with you on this one. I don't think I've ever offered over asking price.

 

[LeoT]

Update

Jeez councils can be so annoying. So now council are asking me to change the storm water path slightly to avoid a certain tree. Wish they could have told me before to avoid this tree and that they prefer the other path! Anyway I've made the changes and submitting tomorrow. I'm waiting on unconditional development approval as I already have deferred commencement. Hopefully this is the last hoop ! On the upside it's actually going to make the piping shorter by about 20% which will save some $$.

 

[LeoT]

Ground and 1st floor plans

Floor plans.

I've seen inferior floor plans sell for mid 900's so (fingers crossed) I anticipate these puppies will get a nice revaluation when built.

 

[Jacque]

yes mate I'm 1 month away from starting a 4 x townhouse development in Baulkham Hills. Im keeping track of it on Facebook.

Good on you Shahin- hope it all goes well, though if you bought the site more than 3 mths ago you're sure to make a profit in this market regardless

Looking forward to the b4 and after shots!

 

[belvoir]

Floor plans.

I've seen inferior floor plans sell for mid 900's so (fingers crossed) I anticipate these puppies will get a nice revaluation when built.

Wow, they are pretty terrible, I take it Parra council doesn't let you have the entry door on the side. It would work much better if the entry door was on the side of the lounge area.

 

[LeoT]

Wow, they are pretty terrible, I take it Parra council doesn't let you have the entry door on the side. It would work much better if the entry door was on the side of the lounge area.

Nope they dont. (jeez arent you negitivity personified)

I dont see whats so "terrible" about it though. Very similar floor plans have sold for over 1mil. Thats where I got my design research from. Looked at the best sellers and did similar. I'm happy with "terrible" if i can get 950k-1mil

 

[belvoir]

Nope they dont. (jeez arent you negitivity personified)

I dont see whats so "terrible" about it though. Very similar floor plans have sold for over 1mil. Thats where I got my design research from. Looked at the best sellers and did similar. I'm happy with "terrible" if i can get 950k-1mil

The entire front living space adjacent to the garage is sort of dead space as it is the main walking area.

See the link for what I think is good design with limited FSR to work with.

http://www.realestate.com.au/property-house-nsw-earlwood-118090835

I am not negative I am just realistic.

 

[LeoT]

The entire front living space adjacent to the garage is sort of dead space as it is the main walking area.

.

Its not going to be 'dead space'. There actually is going to be a feature wall in there (a wow factor) and it will look amazing, taking the finish to a higher level. I would be very surprised if these puppies get less then 975k each, but i'd be very happy with 920k

 

[belvoir]

Its not going to be 'dead space'. There actually is going to be a feature wall in there (a wow factor) and it will look amazing, taking the finish to a higher level. I would be very surprised if these puppies get less then 975k each, but i'd be very happy with 920k

Lol you just contradicted yourself, a feature wall is dead space. Even the living is an awkward zig zag.

Can someone else try and get through to this guy/girl.

 

[LeoT]

Lol you just contradicted yourself, a feature wall is dead space. Even the living is an awkward zig zag.

Can someone else try and get through to this guy/girl.

I have seen this in real life, quite similar actually and I thought it looked great but more importantly it sold for a great price in this location. I appreciate your feedback, but I am confident in the research/results I have seen.

 

[devank]

I can see belvoir's point. The whole entry area is a bit wasted walking space.

I would rather have that area as under cover parking area and move up the entry door.

 

[neK]

The zig zag doesn't sit well with me either.

It makes that living room dead space because it has to double as a thoroughfare. If its a straightline thoroughfare then thats ok, but not a zigzag.

At the very least I would try and swap the location of the garage. This way when you walk in you see the stairwell and the living room is in a corner and not a thoroughfare.

But everyone is different.

 

[LeoT]

Thanks for all your feedback guys - its appreciated. I will try to move the garage as suggested but I dont think it will make much difference to sale value from the designs I have seen and the sale price. I agree with all 3 of you that the foyer space is large and in retrospect I could have changed it around, however from what ive seen I really dont think it will make much difference to the value. But i am taking all your feedback on board.


Cheers

 

[devank]

I simply swapped the garage & moved stairs to the front.

I went a bit overboard and made the living as extra bedroom + relocated the laundry and added a shower

 

[TMNT]

The zig zag doesn't sit well with me either.

It makes that living room dead space because it has to double as a thoroughfare. If its a straightline thoroughfare then thats ok, but not a zigzag.

At the very least I would try and swap the location of the garage. This way when you walk in you see the stairwell and the living room is in a corner and not a thoroughfare.

But everyone is different.

is there a reason why it has to be zig zag? assuming the garages have to stay where they are, cant the kitchens be moved to the other side?>

 

[LeoT]

Thanks for your great diagram mate! You moved things around like you have the same software? Looks seamless..haha amazing.

I like the way you shifted things around it looks good mate. I will probably have to put in a sec 96 though. Ill see.

Thanks again mate.

 

[belvoir]

I simply swapped the garage & moved stairs to the front.

I went a bit overboard and made the living as extra bedroom + relocated the laundry and added a shower

That is much better, I still don't like the gun barrel living/dining/lounge but its much better than the original design.

The most efficient design comes when you separate the dining/living from the lounge.

It may not yield a much higher sale price but you need to have a little pride in your work.

 

[LeoT]

is there a reason why it has to be zig zag? assuming the garages have to stay where they are, cant the kitchens be moved to the other side?>

I think the kitchen could be moved to the other side (unless there is a design restriction I don't know about) but it will also require a sec 96.)

The only reason for the zig zag is I have seen similar design in this area sell well. I will have a feature wall at the back of the pantry with recessed wall. It will make the living area feel warmer and looks really nice.

But stepping back from it all, I do see how moving the garage like devank did also looks great and adds a small study area. arghh...!

 

[LeoT]

It may not yield a much higher sale price but you need to have a little pride in your work.

Are you suggesting I don't take pride in my work?