Hi All,
My parents own a piece of land in Taylors Hill. It is in a good location and is roughly 760 sqm.
I have a 5/6 townhouse development underway (my first development project) but thought that i could learn alot from developing this block of land first and it would be a lot less risky. It could potentially help my parents maximize their profits also.
My dilema is whether to sell or develop as there is a lot of demand in Taylors Hill at the moment. My concern is that in 1.5-2 years time (when the development is finished) interest rates could increase or the market slows down somehow.
I have calculated the ROI to be much higher selling the land compared to developing. However I expect the knowledge gained from developing this block of land first would be invaluable for my next project.
Keen to hear everyones thoughts.
Cheers,
Derrick
My parents own a piece of land in Taylors Hill. It is in a good location and is roughly 760 sqm.
I have a 5/6 townhouse development underway (my first development project) but thought that i could learn alot from developing this block of land first and it would be a lot less risky. It could potentially help my parents maximize their profits also.
My dilema is whether to sell or develop as there is a lot of demand in Taylors Hill at the moment. My concern is that in 1.5-2 years time (when the development is finished) interest rates could increase or the market slows down somehow.
I have calculated the ROI to be much higher selling the land compared to developing. However I expect the knowledge gained from developing this block of land first would be invaluable for my next project.
Keen to hear everyones thoughts.
Cheers,
Derrick
