I have a brick house in Brisbane that is on a larger block of land (1095m2). I was advised years ago that the land could be sub-divided. However, the house sits right in the middle of where the sub-division is.
I have checked to see if the house can be moved. It cannot be. I am not keen on developing either.
However, a possibility is sub-dividing then installing removable homes.
Houses like this one.
http://www.davidwright.com.au/asp/detail.asp?l=&p=549&o=1
- Pricing includes delivery and re-stumping
Obviously these houses aren't the best looking but I wouldn't say they are any worse then my current house.
So a breakdown of the plan:
1) Sub-divide:
2) Demolish
3) Install 2x houses a $50,000 each
4) Sell properties. I think $250K each is conservative and achievable.
5) Real estate agent fees: $12,000
In summary:
+$500,000 : Proceeds of sale
-$245,000 : Current Mortgage
- $5,000 : Sub-division
- $10,000 : Demolition
- $100,000 : Install 2 Houses
- $12,000 : Real Estate Agent
Total: +$128,000
Then factor in maybe $20,000 for unknown fees.
Other factors to consider:
- Stumping or slab requirements
- Council and engineering requirements (council requires plans, soil tests, engineer?s reports, photos of the house, payment of application fees, an inspection of the house)
- Demolition approval by an independent certifier (local council can provide a list of certifiers. Certification usually takes around 7 days.
- Tree removal
- Asbestos removal?
- Break out fees from bank
- Re-connecting water + powerlines
Was hoping the forum could help with the following questions:
1) Do these expenses seem reasonable?
2) Anything to add that I may have missed?
3) Does anyone have experience in removable homes?
I have checked to see if the house can be moved. It cannot be. I am not keen on developing either.
However, a possibility is sub-dividing then installing removable homes.
Houses like this one.
http://www.davidwright.com.au/asp/detail.asp?l=&p=549&o=1
- Pricing includes delivery and re-stumping
Obviously these houses aren't the best looking but I wouldn't say they are any worse then my current house.
So a breakdown of the plan:
1) Sub-divide:
2) Demolish
3) Install 2x houses a $50,000 each
4) Sell properties. I think $250K each is conservative and achievable.
5) Real estate agent fees: $12,000
In summary:
+$500,000 : Proceeds of sale
-$245,000 : Current Mortgage
- $5,000 : Sub-division
- $10,000 : Demolition
- $100,000 : Install 2 Houses
- $12,000 : Real Estate Agent
Total: +$128,000
Then factor in maybe $20,000 for unknown fees.
Other factors to consider:
- Stumping or slab requirements
- Council and engineering requirements (council requires plans, soil tests, engineer?s reports, photos of the house, payment of application fees, an inspection of the house)
- Demolition approval by an independent certifier (local council can provide a list of certifiers. Certification usually takes around 7 days.
- Tree removal
- Asbestos removal?
- Break out fees from bank
- Re-connecting water + powerlines
Was hoping the forum could help with the following questions:
1) Do these expenses seem reasonable?
2) Anything to add that I may have missed?
3) Does anyone have experience in removable homes?