To Subdivide Or Not

[Dot]

What would you lot do?
As a lot of you know our house block is 3000 sq mts and the house is over one side leaving approx. 1500 sq mts of spare space.
Q/For those that have done the sub divide thing, what would your pro's and cons be.
Sell the place as a whole or subdivide??

[generdawg]

Apply for a Caravan Park license and beat them at their own game.

If you subdivide your neighbours will be that much closer.

[Dot]

Apply for a Caravan Park license and beat them at their own game.

If you subdivide your neighbours will be that much closer.

Looking at the most efficient way to go with selling, Is it better to sell as is or subdivide? cost to subdivide is around the 20k.

[T1 Terry]

Sell it as is factoring in the added value of the buyer gaining value by sub dividing themselves or the value of such a large block in a well established area. The size of the block makes it a stand out compared to all the other places on the market. The real test will be just what price the market can bear, you are aiming at a loaded retiree or investor, not a first home buyer

[Greynomad]

Sell it as is factoring in the added value of the buyer gaining value by sub dividing themselves or the value of such a large block in a well established area. The size of the block makes it a stand out compared to all the other places on the market. The real test will be just what price the market can bear, you are aiming at a loaded retiree or investor, not a first home buyer

DAMN!
That puts me out...


Seriously, Dot,

It's the size of the block which will attract buyers.
The potential for subdivision will be the honey on the sandwich.
Your interested buyer will be looking at the $$$ signs floating in front of them.

Doesn't matter if the house is 100yrs old or 5 yrs old; the probability is that units will be built - at least on the empty yard - if not the whole block.
Sell as-is and screw them for the max price.
Let the new owner worry about the cost of subdivision.
Unless you really yearn to be a 24/7 landlord, called to every leaky pipe and droopy wallpaper for the next X number of years.

[SteveW]

The big question, IMHO, is how difficult might it be to sell a vacant block in that location. An honest real estate person could answer that question, but he might not answer honestly.

If you are looking to raise capital in the short term, it might not work out as you hope.

I think your property as it is would be quite saleable - then again, ask that honest real estate person.

[Dot]

Every neighbour around us has subdivided, one has done it twice, I am finally getting the Gman to see that this house is too big for us and so it the rest of the yard, honest real estate agents are you for real I personally know 2 agents and would not use either of them. The one we have for the little house has been pretty good but I have on occasions had to be tough on him Shall do some asking when we see him next just to get his opinion.

[pop's coaster54]

Hi Dot.
Was it the little house or the out house.

Karen,Ron and the Girls.

Just coasting along.

[Dot]

Hi Dot.
Was it the little house or the out house.

Karen,Ron and the Girls.

Just coasting along.

Good one Ron, it was the little out house down the road.. Where have you been up to lately?

[norman]

Sell as a going concern Dot. Your in a premium possie there and should get a good return.