If you have a sizeable property, subdividing it appropriately can help you earn a lucrative side-income without having to spend much on buying more property for investment.
You can develop your property with multiple dwellings, as long as you have the resolve and commitment to view it as part of your investment portfolio.
Size is everything
If you happen to own a big property or planning to acquire one, it is best to understand that selecting the right block of property comes down to dwelling type and location.
If you are considering dual-occupancy, it is important to have a wide frontage so you can have more freedom in developing and designing the area that would allow occupants to co-exist without bothering each other.
When subdividing on a mid-sized block, setting up a duplex where houses are adjoined will work in a tandem design. It can also help you save up on construction costs.
In high-density areas, smaller blocks would work especially in well-populated sections. For instance, a 240 square meter area can be divided into two equal parts for dual occupancy.
A corner block
Corner blocks provide more flexibility when it comes to design and access to the property.
But while a corner block may be a good choice allowing for more frontage space or multiple access, what matters is that you are providing occupants all the necessary means to use and have access to the property.
You can compensate for the frontage area and multiple access, with better amenities and design. Besides, there are people who prefer to be secluded and remain comfortable in a once-access dwelling where it is more serene and less exposed to external noise and foot traffic.
Patience is a virtue
The process of subdividing the land and complying with requirements may take a bit of time, especially when it is required to deal with the council in getting it done and approved.
Just remember to allow the council to take the time to review and approve your subdivision request. The councils have their own set of rules which can even help property owners make the most out of their planned property investments.
Be flexible when it comes to the recommendations of the council should recommend a different plan than yours. Remember that the council decides on what is best for everyone and not just a single person, so in the event that your proposal is not approved, it is for the best interest of you and your community.
Seek expert advise
A major mistake by those planning to subdivide is getting advise from the wrong people. This usually results in setting the wrong expectations and not getting the desired results.
Seeking help from a professional planner or developer can help you get the best advise on the proper way of doing things and getting the results you need.
Do not fall for shortcuts or ask for help from someone who is not a professional in the industry. You could end up frustrated and lose a lot in the process.