How to make money from your backyard

There are a few ways first time developers like your mum and dad can cash up from their property. If the backyard is big enough they can build one property out the backyard where they can live in a brand new home and sell or rent the existing house or they knock the home down, move out and build two or more townhouses on the block.

They must find out what their local Council will allow to be built. This all depends on the zoning and ability to satisfy the planning policies.

If the existing house requires much work to make it sell-able, it could be worthwhile demolition to make way for two or more new houses or a pair- one behind the other or one beside the other called a duplex style dual occupancy.

This method works best where land prices have escalated in the area and there is a demand for new large homes.

Thinking of developing your property? Contact the Melbourne Property Subdivision Specialists.