Determine which strategy best suits your financial situation and the suburban profile to either build 1 or more units at the rear of an existing dwelling or to knock down and rebuild 2 or more units on the site.
Ensure to check if there are any covenants or restrictive overlays which may cause detriment to your development plan. These overlays can be ordered and viewed online at no cost through government sites.
To know that you’re getting the best deal on your land, seek comparable sales in the area through various realestate websites. Gaining this knowledge on the sold properties gives you fuel to negotiate the best price with the agent.
To increase your chances of council approvals you should select a block where:
– there are existing multi-unit developments found within a 1km radius to keep within neighbourhood characteristics,
– North to either the rear or side to increase maximum sunlight into the proposed private open spaces of your new units,
– the land size has approximately 300m per allotment,
– Trees, underground service, roundabouts, speed humps or electricity poles are cleared from proposed crossover location,
– a 3m wide side setback for car access to rear and
At auction time, be sure to be friendly with your new neighbours as you want them on your side when the bright yellow A3 Council advertising sign gets erected at the front boundary inviting neighbours to object.
When possible, be mindful about minimising the potential site costs during construction by selecting a site with minimal fall of up to 300 – 400mm, minimal easements and existing mature growth trees within the proposed building footprint. Avoiding these sites can save you thousands in soil removal/ importation, use of retaining walls and strengthening the slab by introducing bored piers or screw piles.
Finally at contract signing stage, aim to extend the settlement for atleast 3 months. By having this grace period, you save money on monthly repayments whilst the project is with council. Despite our quickest time to gain a planning permit being 1.5 months we do advise our clients to expect 4 months for council approval providing no objections are present.
Before deciding on whether the land is ideal for developing, feel free to contact our Property Development Consultant for on the spot advice.