Research suburbs with good growth potential due to improvements to infrastructure, public transport, schools and amenities. Familiarise yourself with the council’s development control plan to determine what developments are possible.
Identify undervalued properties that have the potential to be subdivided, or for additional dwellings to be built on the block. Discuss your plans with the council to determine if your project is permissible before making an offer on the property.
Work with an architect / draftsperson, surveyor and town planner to complete the development application and submit it to council. Approval can take several months, so factor this into your timeline.
Once your application is approved, enlist a reputable builder to complete the project, or alternatively, a real estate agent to help you sell the approved project for a profit.
If you aren’t selling the completed development, retain the property and use the equity and income to fund your next development.
Clover Financial acknowledges the traditional owners, including the Wurundjeri in the northern part of our City, as the original custodians of this land, and respects their customs and traditions and their special relationship with the land