Hi guys,
I have a small piece of land with a house which is currently zoned Residential High. The land is only 457m2 but is enough for 3 townhouses as per Hamilton City Council zoning regs.
It currently has a fibreplank house and a double garage on it.
Valuation done Dec 07 was $155K for land and $135K for improvements (garden, garage and house).
Options
1) Move house and garage to empty plot of land and sell. Sell 'Residential High' land with plans to developer
2) As above but do it ourselves.
3) As above but sell the residential high land minus plans.
What should I do?
It is currently rented out for a fixed term till July 08 but I don't mind as I'd probably have to get a site engineer to check the load capacity of the soil.
Are there any options that I'm missing?
What would you do?
Cheers.
Marcus.
I have a small piece of land with a house which is currently zoned Residential High. The land is only 457m2 but is enough for 3 townhouses as per Hamilton City Council zoning regs.
It currently has a fibreplank house and a double garage on it.
Valuation done Dec 07 was $155K for land and $135K for improvements (garden, garage and house).
Options
1) Move house and garage to empty plot of land and sell. Sell 'Residential High' land with plans to developer
2) As above but do it ourselves.
3) As above but sell the residential high land minus plans.
What should I do?
It is currently rented out for a fixed term till July 08 but I don't mind as I'd probably have to get a site engineer to check the load capacity of the soil.
Are there any options that I'm missing?
What would you do?
Cheers.
Marcus.
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