4 Key Steps to Subdivide Your Perth Property

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One of the best strategies for turning a profit on investment property in Perth is by purchasing a property that can be divided into two or more allotments. Every time property investors or developers can create one or more new allotments, they are increasing the value of their property. However to make money you need to ensure there is a market for your end product, then buy well and see the subdivision through quickly.

While many people think that they have to build on their new allotment, that is not the case. Many investment property holders in Perth are selling the new allotment and letting the buyer do the building. While the income potential isn’t as high, neither is the risk and you don’t have to worry about all the things that come with building and either selling or renting the second home.

Here are some easy steps to lodging a land sub division.

1. Due Diligence

You must have an accurate interpretation of the zoning for the area. The best way to do this is through a Council search. The Council search should be performed by your buyer’s agent, who can use the zoning and planning data to tell you if your Perth area property can be subdivided.

You should also conduct market research for previous land and home sale prices in the area. Your buyer’s agent can access this information for Perth and its suburbs.

2. Your Development Team

If you are going to build, you will need a conveyancer, builder, surveyor and depending on the size of project, potential an engineer and an town planner. The most important member of your team, though, is your buyer’s agent, who can utilise a wealth of experience in the Perth market to make the process as easy as possible for you. If you don’t buy the right property, you won’t make money it is that simple.

You should involve your team at the pre-purchase stage to ensure you are not buying a lemon and that you can with a high degree of certainly do what you want to do with the property.

3. Council Pre-Lodgement

Take your proposal to the Council for a pre-lodgement meeting. On bigger projects you should take your urban planner. You need all of your paperwork, such as a plan and a copy of the title. Different Councils have different requirements and your surveyor or urban planner can help you with them.

4. Final Application

Take feedback from the pre-lodgement meeting back to your team and address any potential issues. Then, it’s time to lodge your final application.

Next Steps

If you would like our assistance with purchasing or maximizing the profits from any development site in Perth, get in touch.

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