澳洲Australia property Sub Dividing Your IP | Sydney


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Hi All,

I got 1 IP in Melbourne ( Wantarna South) and this Land got 790 SQm and also renting the Home at front.

Now i'm thinking subdivide and give to my parents to build their new home under their title.

This IP under one title and if i going to subdevide , will bank revalue my house and ask me to repay or into any sort of problem?

Or What is the best way to do this? if this post not clear pls ask..  

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Probably best to speak to your local council town planner as step one, .... you need to speak to them to see if the zoning allows sub-division and if it does, ... is your block size large enough for approval.

We have an 800m2 block with house on in SE Qld, ... council won't allow us to sub-divide, but will allow dual occupancy, so this is the way we will go and maybe zoning will change in the future to allow for separate titles.

My response probably isn't much help, but it may give you a starting point.

Martin  

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HI,

Can someone give me more info regarding subdivision and estimate cost to do this?

Property is in Wanterna South in Melbourne. ( Knox City)

Thanks  

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do a search for "subdivision" under this section and also under "adding value" - costs have been hashed out time and time again.

also, if you can subdivide and "gift" the rear section to your parents, this will most likely decrease the value of your front property - if this brings your lvr up higher than the bank would like, then yes, you may have to decrease your borrowings.  

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Firstly talk to Council & see if it possible to sub-divide. Then talk to a surveyor, who should be able to give you a run down on the costs in your area.  

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