Cash in and retire...
A couple in their early 60s and looking to cash their home in and move
interstate for retirement.
Location: Doncaster
Owners: Mr & Mrs F
Property size: 752 M/2
Valued: $590,000
Knockdown old home cost: $13,000
Subdivision and planning: $20,000
Rebuild description: Two double story new homes 22 S/Q
Rebuild cost: $528,000
Total cost of the knockdown rebuild: $561,000
Outcome: Add value of existing home and land $590K + new home build costs $561K = $1,151,000 New homes valued at $700,000 x 2 homes $1,400,000
Gross profit: $249,000