buying an old house with big block of land

Hello experts,

I am new here so please be kind. Me and my mate are looking to buy an old house with around 700sqm land. Our plan is to knock down the house and built 2 new houses. Could someone please advise me, what's involved in the process and is it worth doing?

TIA

Your council might not agree to subdivide.
In fact, 700 sqm is relatively small block for subdivision.
Needs to be checked with your council first.

I did a post recently viewtopic.php?p=1873900#p1873900

As mentioned above, 700sqm would be unlikely to subdivide. Mine is 750sqm and that's probably the minimum I'd go for but it does depend on your zoning and council rules. If you really trust them and happy to be co-owners of one land and two houses, one thing to note is that the Homebuilder grant + whatever else you get in your state is for one house on a block of land.

Not an expert though

Edit to clarify that building two houses won't disqualify you from the grant, you just won't get two grants (as one would be considered investment). It would also take a while to subdivide, at least in WA anyway, they are telling me 8 months at the very least.