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Subdividing – know the facts!

22 Nov 2017 Forrestfield 0 Comment

Thinking of subdividing your property? All the paperwork, jargon and regulations can get a little overwhelming, but once you have all the facts, it can be a great way to build wealth from your property!

So what is property subdivision?
Subdividing is the process of dividing a single piece of land into two or more pieces that have their own titles. Each new piece of land will become a separate dwelling – for example, you can subdivide and sell the land, build and sell the new property, build and rent the new property, or build and sell both properties!

Different subdivision solutions
• Battleaxe (House behind house): A division that creates a rear property with side driveway access
• Side-by-side (Duplex): A length-wise division allowing two homes to have street frontage
• Multi-unit: Anything over two dwellings including a triplex or quadruplex.

Restrictions apply
Council zoning requires a minimum size for new land. You should also find out things like easement regulations, building restrictions, and other factors affecting your plans.

Is subdivision for you?
First, it’s time to assess whether your property lends itself to subdivision:
• Do you have a large block?
• Do you have the appropriate zoning?
• Make sure you meet minimum lot requirements (this changes between zonings)
• Generally, there is a minimum 3-4 metre access required for the driveway.

All of these factors can change regularly, so before you begin planning talk to an expert. At Stratawise, we stay up-to-date on all town planning schemes, and can provide the best possible development solution for your block.

Inner-city suburbs are in high demand!
If you own land within a 20 kilometre radius of Perth, there is bound to be a high demand for the land you have to offer. In the current housing market, many buyers would rather purchase in a convenient location, than opting for land further afield.

Why the sudden popularity of subdivision?
Lack of land, combined with strong demand, is resulting in a very attractive financial proposition for those with land to spare.

Reasons for subdivision
• Free up equity in a home
• Add to your retirement fund
• Simply to make a profit on your land

The investment benefits of subdividing
There are numerous variables to the financial benefits of subdividing, such as location, current financial situation, demand on the area, the cost of living on a building site etc.

So if you want to find out more, simply give Stratawise a call on 6555 7515 or head to their website – stratawise.com.au/contact

Pros and cons
Subdividing gives you more control of what is built next-door to your property.

Organising a new build, however, can be demanding, so it’s worth having an experienced team around you.

You should also consider if you intend to continue living on the land, sell both, either separately or as a home and land package etc.

Know the facts so there’s no need for mistakes
Experience is everything when it comes to subdivision, and Stratawise know how to get the most from your block – just take a look.

 

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Subdivision

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