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Unlocking Dual Occupancy Costs: Property Development Cost Examples
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- čas přidán 15. 08. 2024
- Cost examples for a dual occupancy development project broken down by Peter Kelly. If you aren't sure what kind of costs are involved in doing a small residential development project then this video is for you.
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(00:00) - The costs involved for a dual occupancy property development.
(01:02) - The five property development cost categories.
(01:46) - Dual occupancy property development purchase cost examples.
(02:59) - Dual occupancy property development planning cost examples.
(04:04) - Dual occupancy property development sales and marketing cost examples.
(04:51) - Dual occupancy property development construction cost examples.
(05:47) - Dual occupancy property development bank holding cost examples.
(06:39) - How much a dual occupancy development project costs.
(07:04) - Development specific costs that you might need to consider.
(07:30) - Wrapping up.
#property #development #costexamples
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Peter, Peter, Peter. Where have you been all my life. Its hard to break through surface level information to the valuable more technical.
Welcome Jy 🙏
Thanks for sharing! It is very educational!
It's my pleasure, I'm glad you are getting some value 🙏
Thanks peter
It’s my pleasure Sandeep 😎
hi Peter, just wondering the purchase cost isn't relevant if you are building on your existing block. great video thank you
It's my pleasure, Chris :) And correct, if you didn't purchase the site, then you wouldn't need to consider the purchase cost. Although, you might want to consider its market value when crunching the numbers. It really depends on what you are looking to achieve and your motivation behind the project!
Super informative, loving these videos.
Wondering if it is possible to make a profit in cheaper suburbs? Median house price in a suburb I was looking at is $625k
Its possible for sure depending on the suburb and what your expectations are. It does get a little trickier though that's for sure. Every suburb is going to be different so you'll need to crunch all the relevant numbers and see where it lands.
1. Give us couple of examples where customer had loss. 2. what percentage of projects ended up as Loss or No Profit?
Hi Raheel - not all projects are done for profit. We manage projects for clients that hold and rent, that keep and move in, siblings, parents and kids, friends etc. I can tell you for our personal projects we’ve never lost money, if we have needed to hold into brighter days then that’s what we have done. Hope that helps!
What about land development for 10 or 20 blocks of land. How much cost involved In those projects. Like title fees, subdivision cost, development cost etc?
It's not really our wheelhouse unfortunately our bread and butter is small townhouse developments such as dual occupancies and not the medium/large land subdivisions.
what is open space contribution?
A council fee that kicks in for any development site with three or more townhouses :)
What about GST, doesn’t that usually need to be factored in if selling the dwellings?
Absolutely, if you are selling you'd need to consider GST (margin scheme) and agent commissions.
Awesome videos! Very insightful indeed! Is it safe to assume construction costs in general to be around $12-15k per square when working out feasibility for the cost to construct?
Thanks Victor, appreciate the feedback! I wouldn't say any blanket square meter number for construction costs would be safe. There are too many variables and square meter construction rates can be misleading. You really need to understand exactly what you are building, size, spec etc and figure out a budget from there. Experience and your own IP will play a big part in what construction cost you add into your feasibility.
Thanks Peter! Appreciate the reply!!
🙏