Subdividing

[jareth123]

Hi,

I'm looking at purchasing an 800m² property in suburban Wellington to subdivide and build on. It is across the road from a school and walking distance from the shopping mall. Does anyone see issues with adding to my portfolio with Wellington property at the moment?

I own a couple of rentals but haven't taken on this kind of project before. The house isn't in great condition and located centrally on the section so am thinking of demolishing, subdividing and building. Typically how many properties would you subdivide a section this size into? Could someone briefly explain the process of subdividing and recommend a company to take on this project?


Cheers,

Jareth

[Wayne]

You need to talk to a council planner first off to see what the options are in the area.

[Nectar]

Yeah all depends on the district plan rules around minimum section size. Is the property advertised at the moment?

[sidinz]

The house isn't in great condition and located centrally on the section so am thinking of demolishing, subdividing and building.

Is it uneconomical to move to a different spot on the section and renovate the existing house?

[Wayne]

Is it uneconomical to move to a different spot on the section and renovate the existing house?

Often it is cheaper than people think to move a piled house. In the thousands rather than tens of thousands.

[motivated]

Go and see a surveyor rather than a council planner if you are serious.M oving a house likely to be in the order of $20grand for a flatish site but there is more than just moving it--- plans, consents redo services, drives paths garaging etc to consider

[Anthonyacat]

No one's mentioned it yet, so maybe I'm out of date, but aren't they still having trouble insuring things in Wellington? That would certainly be an issue. Most banks require you to have your house insured before they'll lend on it.

Then again, if your plan is to demolish it, maybe they'd waive that?

[sidinz]

Moving a house likely to be in the order of $20grand for a flatish site but there is more than just moving it--- plans, consents redo services, drives paths garaging etc to consider

Which you'd have to pay for anyway, on a new build.

[Nick G]

25-50k to move and repile, another 25-50k for fixing the house, council etc. Consider the slope of your section, building codes etc... then just call Brittons and ask ;-)

[jareth123]

Thanks guys, some helpful points to consider.