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  • lifestyle development

    Happy new year all!

    During this break, I had time to slow down and thinking about the future. I am flirting with the idea of selling my current house and buy a lifestyle block with a subdivision potential.

    Plan is to live there and hopefully in 10-15 yrs from now the land will be ripe for subdivision and redevelopment.

    Now, what I don't know and I am looking for some advise is to know how much does it cost to redevelop the lifestyle block for a housing estate and what that cost consist of? eg. surveyor, infrastructure such as road, power and waste etc?

    is the process is the same as subdividing a land from 1 into 2?

    I know it's a "how long is a string" question, but any rough idea or people with some experience would be appreciated.

  • #2
    First of all do some research on how much of a hassle living on a lifestyle block can be. That's an awful lot more work than a regular house and a lot of people find they don't actually enjoy spending all their free time on upkeep.

    Second, you need to speak with a planning consultant in the area where you are looking. You have the right gist but it's specific advice applicable to where you are considering buying so there's not a lot of extra value to asking on here I think.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

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    • #3
      Originally posted by learningInProgress View Post
      I am flirting with the idea of selling my current house and buying a lifestyle block with a subdivision potential.
      Whereabouts in NZ?

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      • #4
        A life sentence block?
        Hope you like work.
        The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

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        • #5
          Some folks simply lease all the land not encompassed by the house and curtilage, so it's not always as bad as some people see it.

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          • #6
            How much land are you talking about here? If time is on your side then do it, you will probably love the change of outlook. The old "life sentence" chestnut is just that and could be something promoted by farmers who are anti non-farmers coming into their area. When it comes to development it's not something you have to do yourself there are developers who will be interested when the time comes. As a rule of thumb you can say the raw land value will be a third of the value of the final section value.
            In terms of ongoing land maintenance / work there's a big difference between looking after half a hectare and 10 hectares. In saying that, I know people who just lease out the land to the local farmer to graze and they can still enjoy the space and serenity.

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            • #7
              Originally posted by HouseWorks View Post
              The old "life sentence" chestnut is just that and could be something promoted by farmers who are anti non-farmers coming into their area.
              Maybe.

              But I have one of those things called a lifestyle block and I'm never short of things to do. And that's despite assessing most plans on the basis of how much future work commitment is implied.

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              • #8
                Originally posted by Perry View Post
                Maybe.

                But I have one of those things called a lifestyle block and I'm never short of things to do. And that's despite assessing most plans on the basis of how much future work commitment is implied.
                Is that also true for a house in the burbs Perry? I know someone with a small LS block and he just mows with his rideon, doesn't keep animals so the extra land is no hassle for him.

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                • #9
                  Probably so. Ride-on or robotic mower - they all need R & M and related care.

                  I used to service specialist mowers in a former life and all those belts, chains, sprockets, blades, wheels, engines, tyres . . . .

                  You get the idea?

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                  • #10
                    Friend of mine, found it wasn't just the work of the lifestyle block,they could cope with that. It was the travelling to and fro from it with leading their normal lifes and having 2 teenage children, neither of which was old enough to get a license.

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                    • #11
                      Originally posted by learningInProgress View Post
                      Happy new year all!

                      Plan is to live there and hopefully in 10-15 yrs from now the land will be ripe for subdivision and redevelopment.
                      What is this based on? Can it be subdivided under the current rules? I wouldn't want to rely on a potential zoning change to ensure the property is able to be subdivided. Otherwise, the more rural properties require a greater net site area for the minimum lot size so you'd need to factor that in

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                      • #12
                        Hi all, thanks for all the response. I'm looking for the future urban area in Auckland. the site i'm think it is still within my reach is approx 2ish ha.
                        my thought was probably fence the area that I want to see as my own house and garden, then i will kind of "ignore" the rest. by saying ignore, what i mean is less maintenance on those area, maybe just get a ride on lawnmower or maybe offer the grass to farmers? I don't really know how things work in rural/countryside area, which is what I am looking for some advise here.

                        thank you.

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                        • #13
                          Good luck with that learning, I think you will either love the new experience or absolutely love it. Particularly where you are still close to some amenities being in a rural environment can be awesome and as you say will probably have some upside in the future.

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