My sister and brother in law have purchased a new PPOR and are selling their old house.
It's a real dump of a fibro shack. It's most likely that who ever buys it will knock it down and split the block, or perhaps just knock it down and rebuild.
Is it worth getting approval to split and selling with DA or just as is? Will they get more than the cost of the DA?
If its in a desirable location, then 99% of the time, you will more than recover the cost of the DA. Rich people don't want to rent it out (or leave it empty) while getting DA and then building.
Around my area, when people get the DA and then sell, construction can begin immediately after settlement (allowing early access during the 6 weeks settlement to get quotes and line up builders)
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
If its in a desirable location, then 99% of the time, you will more than recover the cost of the DA. Rich people don't want to rent it out (or leave it empty) while getting DA and then building.
Around my area, when people get the DA and then sell, construction can begin immediately after settlement (allowing early access during the 6 weeks settlement to get quotes and line up builders)
Thanks Trojan
Without giving out the exact suburb it's in the Sunnybank area of Brisbane - you can decide if that's desirable (so not particularly desirable, but not scabby either)! The burb median is $460k.
It's a little pocket of small fibro ex govt houses (I suspect railway worker accommodation) on ~1000sqm blocks built in the ~50's. The rest of the burb was developed in the 70-90's and are usually 600-700sqm blocks. The 'pocket' is slowly being gentrified by knocking down houses, splitting and building modest brick and tile homes, more like the rest of the burb.
Renting it out while the developer waited for DA is probably not an option, it's pretty much un rent-able.
Does anyone know approximately what DA block splitting costs and time lines?
Without giving out the exact suburb it's in the Sunnybank area of Brisbane - you can decide if that's desirable (so not particularly desirable, but not scabby either)! The burb median is $460k.
It's a little pocket of small fibro ex govt houses (I suspect railway worker accommodation) on ~1000sqm blocks built in the ~50's. The rest of the burb was developed in the 70-90's and are usually 600-700sqm blocks. The 'pocket' is slowly being gentrified by knocking down houses, splitting and building modest brick and tile homes, more like the rest of the burb.
Renting it out while the developer waited for DA is probably not an option, it's pretty much un rent-able.
Does anyone know approximately what DA block splitting costs and time lines?
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
When I see a house advertised with a DA I consider it a negative because I think the seller would think the value of the DA is higher than what I think it is.
Any little thing the seller does right before selling as an attempt to add more value, like hiring furniture, painting, minor renos, etc. just makes me think "great im sure he expects to recoup the cost and get a bit of profit for that as well."
I may as well say, it's fruitgrove area of Runcorn (near fruitgrove train station).
Edit - I found the second link through Google. What other costs would be involved? Town planner? Surveyor etc?
If all you are going to do is flatten and reconfigure getting 2 resi blocks then it should be under a grand for a surveyor.
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
Should add to the above, if you are just pushing over a building and doing a reconfigure you shouldn't have to get a DA as you aren't doing a development as such. So why sell with DA in place - usually from what I have seen DA in place means approval for "A particular project" not necessarily the project the new buyer wants. Better just to sell as two separate blocks of dirt if that's what you plan to do and that can be quite profitable in itself in Brisbane without the extra shitfight of dealing with builders.
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
My sister and brother in law have purchased a new PPOR and are selling their old house.
It's a real dump of a fibro shack. It's most likely that who ever buys it will knock it down and split the block, or perhaps just knock it down and rebuild.
Is it worth getting approval to split and selling with DA or just as is? Will they get more than the cost of the DA?
cheers
don't worry about the house it is the land, if developers are moving in theres a good chance the area will continue to rise. Peter :pop:
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy
I reckon shoot Frank a pm and see what he thinks? 