Knockdown and rebuild your dream...
Mr & Mrs V are in their early 40s have three children in a smallish home and are looking for a tree change so a knockdown rebuild solution would give them enough to purchase that new dream home in the country.
Location: Blackburn
Owners: Mr & Mrs V
Property size: 710 M/2
Valued: $567,000
Knockdown old home cost: $14,000
Subdivision and planning: $20,000
Rebuild description: Rebuild two double story new homes 25 S/Q
Rebuild cost: $675,000
Total cost of the knockdown rebuild: $709,000
Outcome: Add value of existing home and land $567K + new home build costs $709K = $1,276,000. New homes valued at $737,000 x 2 homes $1,475,000
Gross profit: $199,000