1st time poster. looking to build 3 x townhouses after knocking down my current home. Have the option to sell the property as is for 650-670k or build townhouses.
1stly getting builders to provide quotes has not been super easy. a few builders have taken the plans but no quote has been received.
Early estimates from builders are preparing me for 700-750k for build cost, 25-40k for knockdown and 30-40k for landscapping. overall turkey is around 800-850K.
For a total build area of 44sq, the price seems very high and I am questioning if the project is even feasible to build. looking at recent sales in the area, the most i can sell all 3 for is 1.4-1.5M before tax/agent costs. on paper, i am hardly breaking even or even losing money if I build.
Any suggestion or insights highly appreciated. If anyone is currently or recently completed a similar project in Hume Victoria can provide better insight to costs.
Thanks