First time blogger and have just discovered these threads as a great source of knowledge. Im a young and green and have purchased a 994m2 corner block in the Logan area looking for best strategic plan to get best bang for buck and full fill its potential. Currently the high set home sits to the side of the block with the full corner block free to use with a minimum of at least 500m2 to play with without impeding on rental property that sits there now. Im aware that the new scheme has what was 900m2 corner block's moved to 1000m2 that can be sub divided. A town planner from LC advised me i would have 12 months from when new scheme is in place to make it easier for sub division to to be accepted. I was not wanting to do the project for a few years time but do have concerns if i leave it i may miss out? Surely being so close to new requirements this would get over the line but not sure if these things happen like that.
I have read with interest from RetireRich101 and Beanie Girl about trying to do a duel occ with another dwelling without putting on 2 titles so i save money on subdivisions and council rates. I understand a auxillery unit can only be up to 70m2 maybe 100m2 in my case but do i have scope to put a larger dwelling on this site without the extra costs?
I have a few of options if this is not the case
1.Subdivide ($60,000-$70,000)and sell land. Land Value $180,000
2.Subdivide and put on a 4bed 2 bath house $190,000+SD $70,000
Total $260,000 Rent $420
3.Subdivide and put on a duel key 3bed2bat/2bed1bath $260,000+Sd$70,000
Total $330,000 Rent $620
4.Granny flat $120,000est
Rent $290
5. Subdivide and relocatable home $60,000 +SD$70,000
Total $130,000 Rent $330
Would love to have some advice on what would work best for me. All suggestions would be greatly appreciated. I was also like some advice on if i was to subdivide if i should have a matter of urgency on this issue due to changes with scheme.
Many thanks
Imho all are reasonable possibilities. What works best for you is best known to you, based on your capital/funds, investment objectives etc. Ie do u want to sell, hold, etc.
Difficult for anyone to tell without knowing your goal. If you want to know how to maximise the utilisation of the space, then subdivide and put a granny each.