Making the most out of your land and your budget
Increasing land costs have resulted in smaller or narrower blocks for residential building. The ‘Terrace’ style two storey home is becoming popular with buyers that don’t necessarily want the maintenance associated with larger land sizes. With varying land widths, it is important for the building design to optimise the space available to ensure the final product caters for the comfort and lifestyle requirements of the owner.
Key Constructions SA offers specialised services for narrow and small blocks including design, planning & budgeting, council approvals, construction and trades management.
When we look at the overall costs to sub-divide Key Construction take the following into account:
• Cost of the site
• Demolition approval
• Demolition costs
• Services (Sewer, water and gas)
• Location of services on the block
• Other associated development costs
• Transfer and legal costs
• Subdivision costs (e.g. civil design, town planning, public notices, council fees and any council contributions).
• Building construction costs
• Associated site costs (Levelling and retaining)
• Marketing on finished products
If all the figures add up to a profitable project, a much better decision will result.
The potential rewards of subdividing property can be considerable. The opportunity to create a new property to fulfil the specific demands of the market can bring high financial returns. Such returns can then be reinvested to boost a investment portfolio, or allow further property developments.
Property subdivision can also be time-consuming, stressful, and full of unexpected issues that can impact on the opportunity to maximise returns. Such issues can compound if the developer is inexperienced, time-poor or does not secure professional advice.
Success requires a combination of experienced project management, patience, attention to detail, and the ability to navigate through a diverse range of issues, including urban planning, storm water drainage and ensuring owners of neighbouring properties are supportive.
If you are considering the purchase of a narrow block, or sub-dividing land, contact Key Constructions SA for expert advice on 0419 975 956.