澳洲Australia property Torrens Title Land | Sydney


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


Hi All,

I am new the property investment and need your expert advice.
I am interested in a block of land. And i am planning to buy it as an investment and planning to build 3 units/townhouses on it.

What are the things that i must consider before i go ahead and buy it?

P.S. because the land is registered under Torrens Title. Is it an advantage or disadvantage?

Thanks in advance.

Cheers!!  

评论
anshu_806 said: ↑
I am new the property investment and need your expert advice.
I am interested in a block of land. And i am planning to buy it as an investment and planning to build 3 units/townhouses on it.Click to expand...
If you are "new" to property investment, then perhaps buying land and building 3 units or t/houses on it, might not be the safest first thing that you could do (without major assistance).

anshu_806 said: ↑
What are the things that i must consider before i go ahead and buy it?Click to expand...
In no particular order:
1. How are you going to finance the purchase of the land?
2. How are you going to finance the build? (given that even experienced developers are having trouble getting finance for projects in the current credit environment).
3. What will your profit margin be?
4. What allowance / tolerance do you have for cost blow-outs?
5. Who will you get to do the Project Management? (since you have no experience)
6. What can be built on the block?
7. What is the zoning?
8. Where are the services - water, sewer etc? How will that impact development?
9. Who will I use to draw up plans - architect or draftsman?
10. What engineers will I use?
11. Have I spoken to the Town Planner to see what they might approve?
12. What quotes do I have from building companies? How experienced are they in the type of product I am trying to build?

etc etc etc

anshu_806 said: ↑
P.S. because the land is registered under Torrens Title. Is it an advantage or disadvantage?Click to expand...
What would you prefer? Qualifed or Limited title? :p...so that you can pay more in conveyancing costs to convert to the new system Torrens title?

After you build your 3 units or t/houses, you will need to create a strata plan and then they will most likely (if you want to be able to sell them separately) be Strata titled.  

评论
Thanks PropertyUnity for your quick reply :

1. How are you going to finance the purchase of the land?
50% from my pocket and remaining from bank
2. How are you going to finance the build? (given that even experienced developers are having trouble getting finance for projects in the current credit environment).
i dont think finance should be any problem
3. What will your profit margin be?
dont care about the profit as this is my first project as long as i dont loose anything
4. What allowance / tolerance do you have for cost blow-outs?
when i calculate, i maximise the expense and minimise the profit to avoid any unexpected expenses
5. Who will you get to do the Project Management? (since you have no experience)
me and my partner
6. What can be built on the block?
it comes under residential zone and there are other blocks subdivided into units in the same street and next street
7. What is the zoning?
residential
8. Where are the services - water, sewer etc? How will that impact development?
they are available
9. Who will I use to draw up plans - architect or draftsman?
Draftsman
10. What engineers will I use?
sorry but i didnt get it
11. Have I spoken to the Town Planner to see what they might approve?
yes, they pointed me to a pdf file and asked me to submit the plan
12. What quotes do I have from building companies? How experienced are they in the type of product I am trying to build?
I need some help with this too as the quotes that i have received are cheaper than market but i think i can still drop them down by 10% with proper market research

My main worry is that how can i be 99% sure that council will let me subdivide this land into units or let me use strata titles for units. I know nothing can be 100% confirmed but i just want to be sure from my end  

评论
anshu_806 said: ↑
Thanks Propertunity for your quick reply :

2. How are you going to finance the build? (given that even experienced developers are having trouble getting finance for projects in the current credit environment).
i dont think finance should be any problemClick to expand...
OK, but I'd do some more checking on this point if I were you.

anshu_806 said: ↑
3. What will your profit margin be?
dont care about the profit as this is my first project as long as i dont loose anythingClick to expand...
The way you make sure you don't lose anything, is to make sure you have a healthy profit margin in there, as well as over-estimating. Builders all do it - it is called contingency - allow 10% if you think you know what you're doing or 20% if you are a complete novice.

anshu_806 said: ↑
5. Who will you get to do the Project Management? (since you have no experience)
me and my partnerClick to expand...
Mmmmm, I hope your partner has some experience then.

anshu_806 said: ↑
8. Where are the services - water, sewer etc? How will that impact development?
they are availableClick to expand...
I meant, 'where do they run on the block of land?'.ie you can't build over the sewer line without incurring significant additional expense (as well as putting off some Asian buyers who don't want things 'flowing' under their house).

anshu_806 said: ↑
11. Have I spoken to the Town Planner to see what they might approve?
yes, they pointed me to a pdf file and asked me to submit the planClick to expand...
OK - the 'brush-off' treatment hey?

anshu_806 said: ↑
My main worry is that how can i be 99% sure that council will let me subdivide this land into units or let me use strata titles for units.Click to expand...
My parting advice to you, would be to see a consulting engineer / surveyor / architect who has experience in this type of development and then go sit down with a Town Planner (lunch meeting perhaps?) and have a decent conversation about what you would like to do, and listen to what he/she says they'd like you to do.

All the best with it.  

评论
Anshu,
Here is a couple things I ran into when I was looking at a development block
Clicky
7. What is the zoning?
residentialClick to expand...
You need to do a bit of research here to even know if a block is worth looking at. R codes define how small a block you can create, setbacks from boundary etc.
R codes
Same site also has maps for certain areas which can help identify streets to target.  

评论
Thanks for you help guys...  

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