Auckland property subdivision cost??

[jfish]

Hi everyone have just registered here,
So my kind parents have just gifted me a freehold property just over 800 square metres in south Auckland mangere east, and was wondering how to make money of it maybe subdivide and build, use as collateral ... Im very new to this but was hoping if someone can tell me if i can subdivide it and if yes how much will it cost? Is it worth it, Original house is in the front and the subdividing will be to the back with the one driveway to both on the side,
Like I said total newbie here any advise or another advised direction will be much appreciated
THANKS

[Damap]

Go into council and ask to talk to a duty planner. They will advise whether it looks subdivisible or not. If you are in a 400sqm per site zoning your "just over 800" may not be enough to subdivide.
If it can be and assuming it is a fairly "normal" subdivide you would allow, believe it or not, 150,000 to subdivide. Hopefully less but that is often what it costs these days.

[jfish]

Thanks Damap
150k woow that's alot, ill take your advise and go into council on Tuesday, than see from there
Thanks

[Nick G]

If you're looking to use this to build a property portfolio then go to your library and read a few books because it's very easy to make a mistake when you're just starting.

Also it may be that not subdividing this property is your best option in the long term. As Auckland's population grows and zoning rules change to allow higher density housing, larger parcels of land will be more attractive to developers and also to home owners - because they will become more and more scarce. If you have been given the property and do not need the money now then spend a couple of months on some research and play the long game.

[Zorwarrior]

Yes dont rush into subdivision. Learn about property investing first. Without knowledge, property investing can be a double edged sword. Not everyone makes money in property, a lot have gone bankrupt in property too!

If its not costing you much, hold on to it and see if you can improve the cashflow somehow with little investment. If you need to take out money at some stage, subdivision would be a good idea, so you can sell one and still keep the other.

Main advise is hold on for as long as you can, you will thank the younger you when you get older.

[jfish]

Thanks for the advise nick
Yes I will definitely educate myself more, and strategize routes

Thanks

[jfish]

Thank you for the advise Zorwarrior

[rocket]

Easier option would be to put a sleep out. ..transportable. Use it to improve cash flow & move it to develop later.

[jfish]

Nice advise rocket Thanks i didn't think of that one

I'll be visiting council on Tuesday,
Talk to the bank ...

Than weigh up my options

Thanks, Appreciate the advise

[Damap]

Also look up the unitary plan for Auckland and see what zoning it is going to be after October. It may have more, (or less), value then depending on what it is.

[Zorwarrior]

When does the Unitary plan take effect Damap? It seems to keep coming but then so doe Xmas every year. Is it final yet?

[Damap]

I'm not sure if there is a date but both my surveyors, who work with council daily, told me to get my consents in before October 1st this year. Especially for MDU's as they vanish under the new plan. I can only assume they are being warned by planners about that date.

[Frezzinghot]

I have been told new rules come into effect where you can build 2 houses on 300sqm sections, zoned of coarse.

FH

[Damap]

You can look up all the new zonings online freezing and which properties have which zonings, that's already completed and online.

[GenY]

I recommend all PIs check the new zones for their Auckland properties. Three of my properties (all in west and >800m2 each) are being rezoned to single dwelling only- essentially stripping you of your future subdivision rights.....