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Is it worth me subdividing my main property pf residents?

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domenica | 06 Nov 2016, 09:23 PM Agree 0
Hi there,

I am a newby to this forum and am using this forum as my starting point, where i can either share my own experiences in investing and gain the best advice from othere more informed than i am on investment decisions going forward.

I would like to ask some advice.

I have a family of five, mum dad and three children and are now needing to upgrade our home with more bedrooms etc.

I currently have a beautiful 2 bedroom home with a lean to which i could use as a third bedroom but dont want to keep my kids by themselves at the back of my home.

I am considering subdividing my 740 Sq meter corner block which will.leave me with 300 sqm vacant land to either develop on or sell as a home and land package. It is a developers dream

I am wanting to make a well informed decision on whether to build on that land and sell both the existing and new home and monetary wise how much more better off will i be. Or do i sell the back as a home and land package?

My current land has been valued at around $540,000 but to find what i want we are looki mg at around the 750k - 800k mark.

My goal is to make as much possible and borrow as minimal as i can.

My question is do i have a better option that i am unaware of?

Is it a smart move considering where i am based Beverley South Australia?

Do i subdivide sell both and redevelop another property?

Would love some expert advice.

Thanks in advance.



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