Given the popularity of urban infill in Perth, it’s natural to look out at your mostly unutilised backyard and wonder whether you are actually looking at an exciting property investment opportunity.
As Perth’s trusted ‘house behind house’ builders, we love hearing from WA families who are keen to unlock the land development potential of their backyard. Common questions include ‘Can we afford this new land development?’ and ‘What are the residential codes in my area?
To help get your housing development dream rolling, here are some of the key items to consider before commencing a rear strata property development:
1. What residential codes/building codes relate to your block?
Residential codes, also known as building codes, can be quite confusing. Yet they are extremely important, as they will ultimately determine how much space you need for a new custom housing development. You may even find you are permitted to build two new residences, instead of just one! We’ll be on hand to have your specific residential codes explained to you, and can show you some of our popular R-Code ready designs to get the inspiration flowing!
2. Is building permitted in your particular backyard?
All successful custom housing developers have had to learn the importance of finding out exactly what is situated beneath the surface. Sewer pipes, etc., may cut across your block, affecting your property development process. In addition, the typography of the block itself will determine the extent of your site works. As successful ‘house behind house’ builders, we have a lot of experience in this area and can help you obtain a clear picture of your unique housing development situation.
3. How will your local council influence your rear strata property development?
As a rule of thumb, all land development must go through your local council, and all councils have specific rules and regulations guiding their property development approvals processes. For example, your local council will likely have specific requirements relating to setbacks, parking and outdoor structures. It’s best to know these upfront, so speak to your local council (or if you are partnering with Summit Projects, we can take care of this element for you!).
4. Do you want to stay in your existing home or move into the new one?
Whether you are developing for profit or pleasure can certainly impact upon the design of your rear strata development. If your house behind house development is certain to become an investment property, our land development team will be more focused on what the greater market is seeking, rather than what is perfect for your family (and vice versa).
5. How do you obtain finance for ‘house behind house’ developments?
Chances are, if you’ve paid down some of your mortgage, you will have equity in which to borrow against for your land development. It’s good to know that our in-house finance team, Westgate Finance, are here to help, giving you personalised and objective financial recommendations while also enabling you to keep all of your housing development needs under the one convenient roof.
6. Partner with an experienced, proven Perth investment property team
With close to 40 years’ experience in helping WA families realise their land development dreams, we believe we have just about perfected the end-to-end service that makes house behind house developments as smooth and as simple as possible.
Your interests are number one at all times, which is why we provide honest and clear advice that is designed to unlock the full potential of your unique situation.
We invite you to arrange an obligation free development consultation with our new property development team today.
Disclaimer: The information within this article is general information only and it does not constitute advice or recommendation. It does not take into account your financial situation, investment objectives or personal circumstances. Before making a decision about developing your property, you should seek independent financial, legal and taxation advice.