The house from hell 1
Thought I'd start off Strong with a horror story turned happy ending.
Last year I started a renovation for one of my clients who had unfortunately experienced a loss in the family which left them with a 90% loan, with no income, and no tenant to rent out to. Some of you may have already been in this situation. for those of you who haven't, let me tell you, it's a stressful and depressing time, with a lot of crying involved.
With all the tissues cleared from the table, we set to work finding solutions.
What we realised pretty quickly, was that we were standing on a gold mine, the property was bought for around $600k a few years ago, the property prices hadn't raised significantly, however the block was in fact 2 lots, this meant that we could very easily split the block and we could effectively have 2 houses which would drastically increase our value, all while not paying any extra Council contributions (at the time, and extra $28k was required to create a new lot in Brisbane + any specialist fees) that's already a saving of $30k minimum.
Now was the debate of build new, or move and existing house on to the new block.
Pros and cons were weighed up, and with a very small frontage (only 10m) we had to choose carefully. We scoured the classifieds and community marketplaces looking for the perfect movable house, as well as a builder who would fit to the price range we wanted, with a product we wanted.
After 2 months, we found it, The perfect house for our little block, It was 7m wide, by 16m long, that was perfect for our little block, it allowed for the minimum 1m setback on each side, as well as a plenty of room front and back for garden.
All we had to do was get rid of the existing house, and move the new one in, EASY RIGHT....?
Tune in next week to find out...