Townhouse Development - Which Way to Go

Hi everyone, I have a old house and we want to knock that down and build 2 double story townhouses.

I really want to know what people think is best way to go. 1) Engage a draftsman/architect/townplanner (there are many companies around) who will do all the work to get the plan/permit, then I look for a builder for working drawings and constructions, or 2) Go with volume builders who do knockdown/rebuild & dual occupancy. Like Metricon will do all design, plan/permit etc all the way to construction.

My main concern is a good design/plan which addresses council's requirements and restrictions (like trees etc) and gives me the maximum constructed area possible and also utilizes every space possible (like storage/cupboards under the stairwell etc).

Not sure who will do this better. Also what are the pros and cons.

Hopefully you can help with your experience and expert opinion.

Comments

  • +2 votes

    Why now? Have you done a cost benefit analysis to see what the returns are, including sensitivity analysis (property price decline, construction delays, interest rate hike, etc.)?

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    Are you planning to leave in one of the townhouses?

  • +2 votes

    Not knowing anything about the industry, this seems like a great plan for someone about to retire, who no longer has children at home and who wants to downsize but not leave the neighbourhood. Income from superannuation is not taxable so you can rent it out and enjoy the full cash value (as you wouldn't get enough rental income to pay much if any tax). You get to choose your tenants so if they have annoying barking dogs or play music late at night you don't have to put up with it. You can also include garden maintenance in the rent so you can keep the front looking nice and not have to live next to a dirty and untidy house. And if you have two children you can leave them one townhouse each in the will, and save them any potential disagreements about what to do with the house after you're gone.

    • +1 vote

      My neighbours recently did a 3 townhouse scenario on an identical block to me (there house was a mirror of mine). They had no mortgage and then did a fancy 3br place at the front of the block and lived in it for whatever it needs to be to be considered your primary residence, then they went to auction and got enough on that one to pay about 90% of the total costs on the whole development. Now they live in one of the 2 x 2brs out the back and rent the other. If they ever need the cash for anything they'll sell up one or both, but they are in a pretty good position.

      This type of scenario has much less risk if you a) don't have a mortgage and b) live in a good area or one that is up and coming.

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    Depends who how much you want to get involved and how much responsibility you want to take.
    The no brainer way is to leave up to one of the vlolume builders.
    All designs are negotiable so dont worry about that

  • +1 vote

    Your option 1 without question

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    Hey mate. I tried sending you a private message but I couldn't. Contact me regarding this.

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    have you thought about subdividing the block, then selling half of the block off empty building on the other half for yourself? I have heard from property investment experts that you really don't make much more money by building a place than you would selling it off empty.

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    A building designer is here. If you want to have nice plans and layouts, please engage a proper design company and better one with a good town planning experience, just to avoid mistakes and delays with the council. Good luck!

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