Hi. I'm a bit new on this forum so hope I am getting the placement of this thread right. I've been investing in property for about 5 years (since I was 21) and enjoyed it. I've never subdivided though. I currently live in an older house on an 18m wide block that I bought for $210,000 just north of Adelaide. Almost rid of the mortgage, should have it gone in under 12 months easily. i want to subdivide into 3 and build 3 townhouses, live in 1, rent one out and sell 1. I really like the idea of building 3 of these http://www.hickinbotham.com.au/page/content/dynamic_house_designs_type/223
The living space seems great, and its a nice design that I could fit 3 of on my block.
I'm looking for feedback from more experienced investors and sub dividers...how much should this cost to do? I am told by a local agent if I were to sell 1 of them, they could help me get up to $260,000 for it in todays market.
What does everyone think?
The living space seems great, and its a nice design that I could fit 3 of on my block.
I'm looking for feedback from more experienced investors and sub dividers...how much should this cost to do? I am told by a local agent if I were to sell 1 of them, they could help me get up to $260,000 for it in todays market.
What does everyone think?