Browse Forums General Discussion 1 Dec 01, 2013 9:14 pm Hi all, I have an 800 sq block of land in the eastern suburbs of Melbourne that I am looking two build 2 high spec townhouses on. I am unable to borrow the whole amount but have good equity in the property. Is it possible to sell my block to a builder/developer in exchange for one of the townhouses? I love the area and don't want to move....my house is not big but my land is huge and it seems like a good way to use the great block that I own. I would appreciate any suggestions. Cheers, Caro. Re: Townhouse development 2Dec 01, 2013 11:20 pm I've heard of builders doing deals, at least here in wa.. The other option would be to subdivide and sell off a block to give you dollars to build, Recently moved to a 60's home in need of some improvement! http://s797.photobucket.com/user/leenii ... ch%20House Old house: http://s797.photobucket.com/albums/yy25 ... loo/House/ Re: Townhouse development 4Dec 02, 2013 1:04 pm Are you sure you havent tried hard enough to get finance. Have they taken the rental returns as part fo the income. I wouldnt be doing deal with builders and things will always favour them. YOu could even organise the plans then sell one off the plan before starting. So many other options. Re: Townhouse development 5Dec 02, 2013 9:33 pm Hi B Star, Thanks for the info......I appreciate the advice. I clearly have a lot of home work to do for my project. My end goal is to live in a new dwelling on the same land and to have reduced if not be mortgage free. My two boys and I will out grow this house soon and I have good equity in my land. I will look at the options you suggested......Regards, Caroline. Re: Townhouse development 6Dec 03, 2013 11:38 am I agree with B STAR. Get the plans drawn with some nice 3D perspectives etc and market it well then use the deposit as part of the build finance or sell "off the plan". Stewie Re: Townhouse development 7Dec 03, 2013 9:33 pm Hi Stewie, I'm beginning to think that you and B Star are on the right track.....i'm going to go to council and see what they have to say in regards to the number and type of dwellings. My finance issue is that I won't be able to finance such a large mortgage during the build, but selling off the plan to finance the project may indeed be a good solution. What sort of capital gains issues will I have when selling the other townhouse/s? Cheers Caro. Re: Townhouse development 8Dec 04, 2013 5:56 am I don't have a clue but if I was in your shoes I'd have a chat to your accountant. He/she may have some other suggestions too about how to minimise your exposure to tax plus other ways to finance your build. Stewie Building Standards; Getting It Right! Hi, sorry if this is the wrong place - Iām new to the property/building journey (trying to buy my first home) so not sure where/who to go with these sorts of… 0 19155 Hi, does anyone have a clue how the Brisbane Development website work in terms of how uptodate the dates on it are (developmenti.brisbane.qld.gov.au). I transfered… 0 4636 |