Hi all,
I have an IP in WA, it's a 1960 house on a 845sqm block of land, zoned R20/30. The house sits at the front so I have the option to do a battle axe.
I'd like to start the subdivision, but since this is my first subdivision project, I'm a bit at loss regarding my options and what I need to prepare financially. I don't have any mentor around me, so I thought this forum is a good place to get advise from.
First of all, I've been thinking about what I should do with it that will give a maximum return. My options are as follow:
1. Subdivide and sell the back lot
2. Subdivide, build a house at the back and hold both. With this option, I might have to build a carport for the front house.
3. Demolish the house and build 6 mini apartments. I'm still not familiar with subdivision rule, but I think you can build a multiple dwelling on R30 (I've seen it done on a nearby property) ?
The house is renovated, but I've been paying quite a bit on electrical and plumbing maintenance. It's currently rented out.
Currently, I believe my best option is no 2.
However, if borrowing isn't an issue and if I weren't such a novice at subdivision, would no 3 be the best option ? What would you do if you you were me ?
I have an IP in WA, it's a 1960 house on a 845sqm block of land, zoned R20/30. The house sits at the front so I have the option to do a battle axe.
I'd like to start the subdivision, but since this is my first subdivision project, I'm a bit at loss regarding my options and what I need to prepare financially. I don't have any mentor around me, so I thought this forum is a good place to get advise from.
First of all, I've been thinking about what I should do with it that will give a maximum return. My options are as follow:
1. Subdivide and sell the back lot
2. Subdivide, build a house at the back and hold both. With this option, I might have to build a carport for the front house.
3. Demolish the house and build 6 mini apartments. I'm still not familiar with subdivision rule, but I think you can build a multiple dwelling on R30 (I've seen it done on a nearby property) ?
The house is renovated, but I've been paying quite a bit on electrical and plumbing maintenance. It's currently rented out.
Currently, I believe my best option is no 2.
However, if borrowing isn't an issue and if I weren't such a novice at subdivision, would no 3 be the best option ? What would you do if you you were me ?