Is sub-dividing right for your property?

A feasibility report can help you make an informed decision

If you are keen to explore the opportunities presented with sub-dividing your land, a feasibility study can help you gauge the risk and reward potential. It is always a good idea to have done some due diligence before spending large sums of money ensuring that your sub-division project is viable as possible, given that every project is unique. In many cases, land development consultants offering land surveying and site services are quite happy to absorb the cost of the report into the cost of sub-dividing, should you proceed with them.

Some good reasons to consider a feasibility study include:

Reports will include professional recommendations covering costs, project options for your site and potential returns.
Any risks will be comprehensively defined
A positive feasibility report will assist if you need to apply for funding
Feasibility reports can contain information from local real estate agents on buyer potential and the rental market in your area.
Home buyers regularly look for existing homes and sites with potential for sub-division into the future. If you decide to sell your marketing efforts will be greatly enhanced if you are able to provide a feasibility report with future potential for the site outlined.

If you are not in the building business, the legal red tape around sub-dividing or land development can be somewhat overwhelming. If you are not comfortable or unsure of what to ask it might be better to leave it to service providers who have good relationships with local Councils and other professional service providers. Our national network of Lockwood building contractors can assist with professional advice and guidance.