How much will a Dual Occupancy Cost

 

The following costs are associated with developing your land with a dual occupancy- tandem or duplex style.

  • The cost of acquisition of the land if you do not own it

  • The interest or holding costs

  • Your share of equity or the deposit which is usually 10% of the cost of the property

  • Stamp duty which is 5.5% in Victoria and 12% for overseas interests plus FIRB fee

  • Legal costs for conveyancing which could be in the vicinity of $1000 upwards

  • Town Planning Application fee which is around $1500 depending on the value of the construction costs

  • Subdivision permit fee of around $1400

  • Bonds or contributions your local Victorian Council may request. Generally speaking open space contributions apply to three or more lot subdivision. A bond may apply to ensure the landscaping is completed as per approved plans

  • Metropolitan Planning Levy (MPL) for construction costs above the MPL threshold which is now just over $1m

  • The Land surveyors fees which can be around $3000

  • The Architect and  Town Planners fees which ranges from $12,000 upwards. Talk to us for our competitive fee structure 

  • The landscape consultants fee which is around  $1000 and higher for larger sites

  • BESS and ESD report which is becoming common in some councils- around $1000

  • A civil engineers fee for the drainage design around $1500 +

  • The structural engineer's fee which can be in the $3500 range depending on the type and coplexity of the construction. Sloping land, poor soil report will affect the engineering and building cost

  • The fees to prepare Building Permit/Tender documents

  • An arborist report if it applies. Arborists report on the vegetation on the land and on adjoining properties if applicable

  • The Building surveyors fee which can be upwards of $1500++ depending on dwelling sizes

  • A soil test report around the $450 mark

  • The cost of the construction which can be $1200 per sqm and more depending on finishes and site constraints

  • The subdivision costs (providing services, crossovers, driveway,landscaping which can add up to $15,000 and more for a simple dual occupancy)

  • An open space contribution usually applies for three or more dwellings on a lot. The contribution can  be 5% of the land value on the rates notice

  • A contingency amount to cover unexpected construction costs which should be 5% of the contract price

  • Feel free to call us on 0448 170 132 to discuss your project or please complete the form for a 24 -48 hour response

 Th above feasibility is a general example for a duplex style feasibility.

 

There are  few types of dual occupancy- the most common being the tandem here site costs (driveways and connection of services can be more), the duplex  with each unit have a street presence which attracts a premium or those on corner lots and in some instances one unit above another.

 

 

 

 

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