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Not trying to be pessimistic but I think your figures are very optimistic. I can't understand how you can get 340sqm built turnkey (i.e. fencing, landscaping, driveway, demolition, excavation, OSD, etc) for $550,000 including GST.
Having said that good luck and look forward to the updates.
What I'm basically saying is that you have factored $700k for CC, Construction, OC and subdivision and I don't think this figure is close to what it will cost. I reckon it would be approx $100k more depending on various things like how much you need to dig, whether you will hit rock, OSD design, Hydraulic requirements, etc
Time will tell mate. But I have seen similar projects like mine have similar Total development costs.
Anyway its just my 2 cents - doesn't mean I'm right.
Thanks for sharing and it will be awesome to track the progress.
BTW - builders will need CC plans to provide a quote so don't read too much into quotes given by builders off DA plans.
The progressing feasibility.
Realistic and conservative end valuation will be over 950k each
We have DA (deferred approval) and hopefully soon will get Unconditional Approval.
Thanks for sharing the numbers.
I am curious though, how would this have looked if the market didn't take off in 2013? When you purchased, were you expecting such an increase?
Based on the end sale numbers at the time, it would have been OK, but not as great as now, that's for sure. Our decision was that even if we didn't decide to develop it now, its still a great place to buy at the price we bough it for and we knew medium term the future value would be great, considering the land size (almost 800sqm) and the location to the Sydney CBD.
(with hindsight i would have bought another 2 sites and completely over extended myself LOL).
lol me too!!
yes mate I'm 1 month away from starting a 4 x townhouse development in Baulkham Hills. Im keeping track of it on Facebook.
Thanks WM,
Ive allocated 50k for head works. If need be ill use some of the contingency. What typical (rough) costs for head works on a duplex have you incurred?
thanks