Have an unused plot in your backyard? You’ll probably want to consider land subdivision for some extra cash.
As a landowner, the investment strategy of subdividing a property makes the perfect economical sense: it allows them to expand upon their capital gains, thus yielding higher profits. For those who might be unfamiliar with the term, subdividing a property could mean building two separate homes on your land with the intention of selling one, or committing to a large-scale development of the land.
However, subdividing is often a complicated process, hence it’s crucial to understand the finer details of the process to get a good idea on how you should proceed with it and what types of hurdles you may face. One way to start is understanding how to subdivide your land and getting familiar with the process.
Questions to Consider
In order to have a better understanding of the whole process in general, you need to ask yourself these questions and be able to answer it thoroughly.
- Are there any local or state planning schemes that may impact your subdividing proposal?
- Can the land sustain an increase of intensity due to proposed development?
- How does subdividing the property affect any existing buildings that are currently sitting on the property?
- Can the proposed subdivided land get adequate utilities and infrastructure services?
Preparation of Applications and Permits
As directed by the Councils Planning Scheme, most subdivisions require a planning permit and a plan certified by a Licensed Surveyor. In Victoria, any subdivision of a property will require a planning permit application to be made to Land Victoria. In most instances, the city councils will not approve an inner city residential subdivision application, unless the site has an approved Development or Town Planning Permit.
In order to get this permit, a licensed land division surveyor will need to prepare an existing site conditions survey, and then forward this data to the architect who will thus begin the design process. This process can be complicated and you may need to deal with a lot of matters, which can quickly get very overwhelming.
We hope these legal considerations will put you on track towards a successful and profitable subdivision.
At Linear Land Surveying, our licensed and qualified team are experienced in dealing with a range of City Councils across Victoria. We offer a variety of services, from subdivision survey to development services to guide you through the entire subdivision process from start to end. Contact us today by calling 9873 8888 or email [email protected] to get your project started right away.