Hey guys,
Just after some general info on subdividing blocks?? Can anyone tell me what is involved?? Sewerage connections, electricity, titles, etc. Have had thoughts about buying an old house on about 900 square metres, knocking down the exisiting residence and subdividing the block to sell.
Is this a feasible option?? I was estimating that the purchase price of the house and land be about $250K, and the blocks might sell for in excess of $200K, so in theory it works but is this a practical option or is it expensive to prepare the blocks to be sold for people to build on? I am thinking of doing this in an established/desirable area where the is no land left, hoping this would attract people??
Please let me know your thoughts, in the back of my mind I am thinking if it was as simple as I am thinking, then everyone would be doing it right?? It would be great to get some equity behind me in the property market and thought this would be as good a start as any right?? Wrong?? lol!