Do you own a block of land that can be subdivided but the thought of building 2, 3 or even 4 new properties sounds just too hard…and expensive?
Or perhaps you have looked into it before and realised that getting finance for such a project is just beyond your means.
This is an all too common scenario for many Perth home owners, however local property experts Unlock Your Block along with the team at Vision One Projects have joined forces to offer their clients an opportunity to develop their block without the time, cost and risk of building the new properties themselves.
“Developing property isn’t for everyone. First you need to find a bank to lend you the money. Then find a builder to design and build the units. You will also need approval from council and other government authorities, an agent to sell the finished properties, and don’t forget the subdivision approval and new titles from the Landgate,” said Damian Will, Sales Manager at Vision One Projects.
“All of which takes about 18 months and a lot of capital upfront. With the banks tightening their lending criteria, we knew there had to be a better way.”
Putting their collective heads together the two companies have been able to create a unique, low cost, low risk way to unlock the maximum value from your land with the minimum cash outlay.
They call it ‘No Build’ Property Development and as you may have guessed it allows you to unlock the equity in your land without the hassle, cost and time of building new properties.
And that is exactly what appealed to Alain, who came to Unlock Your Block knowing his 579sqm block in Woodlands had the potential to be subdivided but was unsure of the best approach to maximise the returns he could get for his land.
See for yourself how Alain was able to make an additional $250,000 profit by taking the 'No Build' Property Development approach to his project in Woodlands by watching the short video below.
“Alain came to us, like most people do, just looking for the right advice,” said Unlock Your Block Director, Fab Marion.
“We conducted a full feasibility of Alain’s block and found that he would make far more money by subdividing his block into 3 separate lots and selling them as house and land packages, as opposed to just vacant blocks of land.”
Vision One Projects designed 3 townhouses to suit the subdivided lots, which gave potential buyers a much better idea of what would fit on the odd shaped blocks.
Seeing the 3D illustrations of the homes meant that the buyers could get excited about what they were purchasing, which had a positive impact on the price to the tune of an additional $50,000 per block.
Once buyers were found for the house and land packages, Alain was able to sell the land and walk away with the proceeds of the sale without being involved in the building process at all.
Vision One Projects began the construction of the new premises for their 3 new clients, which are due for completion in August 2018.
You can find out more about how you can profit using the No Build Property Development approach on this page or watch the short video below: