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
Have Town Planning Approval for my Development so just putting together a an Approx Budget for my purposes only so I know how much I'll need to go to the Bank for and keen to know from anyone else if I'm missing anything-
Build Cost (Fixed Price Contract) - $500,000
Additionals - $50000
Demolition - $9000
Working Drawings/Engineering (already paid for 50%) - $5000
Landscaping - $5000
Legals (subdivision costs) - $10000
Interest - $30000
The Build Cost includes everything we want in the Townhouses and it will basically be built so all we have to worry about is the Landscaping, everything else will be included and done.
I always put Additionals of 10% as I've been told to always do that with Developments as things pop up but I'm really hoping not much does lol.
Have I missed anything glaring from the above that you can see?
Water corp and sewer fees? In WA its costing me 6k just to upgrade the connection for a duplex.
All the furnishings like paint, floor coverings and blinds?
As you are applying for bank funding you'll need to budget for a QS as well to release progress payments. But given your building costs it doesn't seem like a very big project so QS costs won't be that much either.
Unless its some really basic gardens, $5k for landscaping seems pretty light.
Is turf and soil included in the builders fixed price?
DaveMSydney said: ↑
Unless its some really basic gardens, $5k for landscaping seems pretty light.$5,000 wouldn't even cover the basic stuff....the consulting fee alone would be more htan $5,000
Is turf and soil included in the builders fixed price?Click to expand...
Presuming its a level block, some mates and a case of beer should take care of the landscaping...who needs a consultant?
I plan to do the landscaping ourselves to save money as Nemo puts it, it's pretty basic plan and a level block so hopefully it shouldn't be that hard to put together.
The build costs includes everything like Paint, Blides, Floors etc.....it's to full lock-up stage with everything included.
I'm not sure about Water Corp or Sewer fees to be honest, probably something I'd need to cover I'm thinking.
I'm pretty green at this, first development.
There's so much more to landscaping than soil and grass....what about the plants for the garden? Sprinklers? Decking? Stones/Decorating? Even if your backyard is a small area you can't just assume you'll do it yourself...it has to be done professionally in order to maximise your sale price.
To get some plans properly developed and all the stuff around approvals could cost as much as $30k to $50k depending on the project. This would replace your 'working drawings' cost.
PT I already have plans but thanks.