Subdividing your existing section and building a new home gives you a whole range of lifestyle options. Don’t put it in the too-hard basket any longer.
Many older homes in New Zealand were built on large sites, and the houses were often positioned at one end or corner of the section in order to create a big outdoor space with a huge lawn and gardens.
But with today’s busy lifestyles, there comes a time when mowing lawns and trimming hedges get in the way of doing the things you enjoy most.
If your home is on a large section, there’s a good chance you could build a second home on the same site. Or relocate your old house and build two warmer, well designed new ones.
If it’s a really large site, or in a zone suitable for multi-unit development, you could build several dwellings.
Either way, the post subdividing options are enticing: Sell the section and pay off your mortgage; live in one house and sell the other; live in one house, rent the other; Sell or rent them both and go travelling.
However, the common perception is that subdivision is complicated and new construction is too difficult, time-consuming, or even just too expensive.
That is why G.J. Gardener Homes offer a no obligation, Property Development Appraisal, examining the subdivision potential of your property.
The appraisal lists a number of details on your property, including relevant zonings and covenants. This information is the starting point to evaluate development potential.
Should the appraisal be positive and you want to proceed, GJ Gardner’s can offer professional teams and the use of carefully selected external partnerships to help navigate through the often complicated requirements for you, ensuring your project is undertaken efficiently and hassle-free.
Either way, you could own a brand new home and have an income-earning investment property as well.
Three common approaches are taken with subdividing: firstly ‘infilling’ a new home in to your backyard; ‘intensifying’ a traditionally detached property is added to with adjoining dwellings (seen commonly in suburbs like Hobsonville Point); or the ‘knock down and rebuild’ approach where an old house is replaced with new lower-maintenance houses built to modern standards so they are warmer and better designed.
Research shows that with residential development your backyard could be worth between four and nine times more than it is right now. And with New Zealand’s cities predicted to house 80% of our total population by 2043, your existing house, or even your washing line could be potentially sitting on a suburban goldmine.
Against existing housing stock new home construction has some pretty powerful arguments too, with freedom of choice, easier Reserve Bank LVR restrictions, no heated auctions, new constructions standards, an independent ten-year warranty and potential capital gain at handover, home ownership or property investment doesn’t come much smarter.
Contact G.J. Gardner Homes today on 0800 42 45 46 or visit www.gjgardner.co.nz to find your local franchise to discuss your indicative, no obligation Property Development Appraisal and find out what options are available to you.
