My latest development - 4 dwellings in Melbourne

[westminster]

Generally everything you need in order to develop (town planning, building permit documentation etc) occurs before you have your construction loan approved. This then means you need to pay for this in cash rather than rolled into the loan.

With water fees and all other authority charges some builders will include this in your building contract ie make an allowance for it as Myf has stated.

If you are very lucky you can get construction loan before you go to council - I got the land loan and the construction loan at the beginning - pricing for the construction loan was done off preliminary drawings. They have changed somewhat during the town planning/building permit stage but the price didn't change much so no loan variation was needed.

As such Gwelup includes everything in it But I have 2 properties providing equity for it so the LVR is good.

 

[TMNT]

hey oc1

any chance you could give total floor spaces or habitable space sizes?

I just want to get a feel of how much per sqm you can do your self and what it would cost someone who is NOT a builder

 

[oc1]

frames are nearly up

Hi guys

Frames are up now for the back two units. The bricklayer has been there this week as well putting up the garages. The roof truss comes tomorrow for the rear units. All going along well. By the end of next week i should be close to having all frames completed and roof truss for all units completed.

Cheers
Oscar

 

[oc1]

A few more pics. Garages pretty much done (will be completely finished when the bricklayer is back in 2 weeks) with the T bars put in. All ground level frames are completed too. You will see the steel beams in one of the units too.

Moving forward the single level units will have the ruff truss and windows installed. Weather is a problem though

Cheers
Oscar

 

[oc1]

Been busy lately to update lately. I have attached a few photo's. The roof truss for the single level units are complete along with the posi truss for the townhouses.

The fascia and gutter is up for the single level units too. Weather has really delayed work - very hard to put the roof truss in wet weather

Oscar

 

[MTR]

Hi Oscar
Looking good.

Not much you can do about the weather, how much has it set you back.

 

[oc1]

Hi Oscar
Looking good.

Not much you can do about the weather, how much has it set you back.

About 10 days i'd say. I've had to push the scaffolding guy back a few time

 

[coral]

Hey guys,

This is one of my newest developments which is about to commence. It’s a 4 townhouse/unit development – 2 townhouses and 2 single story units located in a decent suburb of Melbourne. As a result it will have a pretty good finish. Last week the existing house was demolished so it is vacant land now.

I bought this mid last year with an 8 month settlement and obtained the Town Planning Permit during this time . At the moment the numbers look like this:

Land & Town Planning costs

Land: $570,000
Stamp duty/legals: $31,000
Permits, surveyor, council application fee, engineering etc: $30,000
Total Costs: $661,000


Construction

Total build: $625,000 (I'm a registered builder so my costs are naturally lower than a developer)
Subdivision (open space levy in Victoria): $28,000
Interest: $35,000
Bank app fee: $5,000
Titles & legals: $2,000
Total Construction cost: $695,000

COMBINED TOTAL (LAND & CONSTRUCTION): $1,356,000

The dwellings today would have a combined value of about $1,840,000. I’m allowing 6-7 months to build. They range from 11-18 squares and rents would be around $1,730 pw. I’ve attached images of the house during demolition and after demolition. Blocks look so much bigger when vacant!

The plumber is in next week to do the underground work, followed by the concrete guy right. I’ll upload images as it develops. Any questions feel free to ask.

Cheers, Oscar

Hi Oscar,
Do you provide services like PS (PropertySubdivision) do? Have you got any turnkey projects that you wanna sell to others?
Regards
Coral

 

[oc1]

Hi Oscar,
Do you provide services like PS (PropertySubdivision) do? Have you got any turnkey projects that you wanna sell to others?
Regards
Coral

Hi Coral,

We actually don't "sell" anything, so not sure what you mean. Our website has all the details.

Oscar

 

[oc1]

Ahhhh, so much can get done with sunny weather

All windows are now installed and the dwellings will be wrapped tomorrow as a result. The shaftliner is in too - between the party wall for the rear units. This is to protect from fire. Some use double brick instead but i have found this way to save on space making the units more spacious and slightly cost effective.

The fascia and gutter is almost complete on the singles with the box gutters getting completed today. The double storey townhouses have the frames up for the top level. All framing is on track to finish by Monday.

Next week is a busy week - scaffold, upper level fascia and gutter, all roof tiles, finishing off the frames etc etc. And we have weather in the mid 20's for a week

Cheers
Oscar

 

[saibaba]

Development and construction

Hi OC,

I am going to buy a 700sqm site soon. Had seen your web site and quite impressed with your projects. Would you provide development and construction advice?

 

[zed_kid]

Sooo 3 pages and still no suburb reveal? Well played sir, well played.

PS. Cracking progress, keep it up

 

[oc1]

Hi OC,

I am going to buy a 700sqm site soon. Had seen your web site and quite impressed with your projects. Would you provide development and construction advice?

Shoot me a PM, i'll try and guide you if i can.

 

[oc1]

Sooo 3 pages and still no suburb reveal? Well played sir, well played.

PS. Cracking progress, keep it up

This made me laugh for several minutes

With barely any rain over the last 12 days I am nearly at lock up. Loving it!!

Oscar

 

[oc1]

Been a while since the last update. The framer was back to finish off all the frame work. I love the dutch gables! Adds some charm.

All the upper level roof tiles are now completed as well as the fascia and gutter. The upper level eaves sheets are now in place as well. While the outside work was getting done the internal lockup got done and the plumbers and sparky did their rough in.

The bricky is back on site today. He should be close to finishing by Tuesday next week.

I'm looking forward to the render starting in about 7-10 days. Will be at lock up soon after when the lower level roof tiles and fascia/gutters are in place. Once this is done i can then get the trenches dug up in the driveway in preparation for the services and water (can be a real headache!). After that it's the staircases and the plaster.

Cheers
Oscar

 

[TMNT]

looking good oscar

question: why dont you use the treated blue pine for your frame??? doesnt that scare/prevent away the termites? and the cost is about 10% more isnt it?

 

[felicity]

Hi Oscar well done, what suburb????

 

[oc1]

looking good oscar

question: why dont you use the treated blue pine for your frame??? doesnt that scare/prevent away the termites? and the cost is about 10% more isnt it?

It's not a termite prone area so no need. That extra 10% would be around $2000. Better places to spend that money interstate trip comes to mind.

 

[jacko18]

Well done Oscar, that melbourne weather can change at any moment
Hope there's no more until its done it looking great

 

[oc1]

Well done Oscar, that melbourne weather can change at any moment
Hope there's no more until its done it looking great

The predictable thing is that the weather will be unpredictable. Aiming for a December finish.

Oscar