Browse Forums Building A New House 1 Oct 22, 2009 12:39 pm I have a property in the inner west of Melbourne with a house on the block. The house is about 30 odd years old , its got brick cladding on the outside (not brick veneer) The block that the house is on is a somewhat odd shape , the shortest boundaries are 70ft ( 21.3 meters) in width and 100 ft ( 30.48 meters) in depth. What I am thinking about doing is sub-dividing the property and building two premises on it , either houses or townhouses/units , either separate or joined. Of course this all depends on what would fit on the available land and what Council would allow. This would mean that each subdivision (the land) would be approx. 10.6 meters wide and 30.48 meters deep. After building , I would probably sell one of the properties and keep the other. So , being that I'm totally new to this ; any comments? thoughts ? suggestions ? cheers Re: Subdividing property. 2Oct 22, 2009 10:04 pm Hi, From my experience... find a good accountant that has experience in Capital Gains Tax and property who can advise you.. You will be liable for CGT for the property you sell. Find out from your council re; setbacks and open space policy (what % of the land you are able to build on) dont just presume you can build on most of it! (like I did!).. my council only allows 40% occupancy on the land so the house I am building will be much smaller than I initially planned. Also keep in mind you may incur additional unexpected expenses (ie I needed to do a sewer extention which was an additional $12k that we didnt budget for). Take note if you have any significant trees, the council may not allow you to remove them. Allow plenty of time too.. 12 months on and we still have a few hurdles to jump. Good luck! It is a rollercoaster ride Re: Subdividing property. 3Oct 22, 2009 10:13 pm ...and creating a seperate title Where you are coming from is where you are going to... Re: Subdividing property. 4Oct 23, 2009 8:30 am It can take months to subdivide a property. I reckon mine took approx 8, and the fees were in excess of $30,000. I think to connect the water/sewer was over $12,000. My advise is get started early and get a good convayencer. The estate Covenants (design requirements) must be included in the land contract. If you purchased a resale block then the vender is required to provide/include a copy… 2 9219 You might be able to apply to divert the sewer at your expense. In NSW you would contact a Water services co-ordinator and they would give you advice as to whether or not… 1 12975 Ask for some kickplate to be added and also for tradies to be requested to use lanyards on tools on that side of the building. Be respectful and have the discussion… 1 736 |