Are you tapping into the wealth potential of your existing property like other savvy Perth homeowners? Zoning changes are making it possible for Perth property owners to explore the idea of by building a secondary dwelling in their front or backyard. If your property meets the requirements this is an opportunity worth exploring.
For those lucky owners of large Perth blocks, developing the front or backyard presents an enticing proposition. If you occupy the property you may have the option of continuing to live in your current home while embarking on a relatively straightforward development, making it particularly attractive for first-time developers.
Upon completion of the development, homeowners have a range of options at their disposal. You can choose to rent out the newly constructed property/s, sell it to capitalize on your investment, or even move into one of the newer home/s yourself.
Some Options You May Consider:
- Keep your current home & build in your front or backyard
- Demolish your existing home & develop the whole block with 2 or more dwellings
Advantages of Developing Your Front or Backyard:
- If thorough research and feasibility studies have been conducted, the development could prove to be a profitable financial move
- Your high-maintenance back/front yard is transformed into a lucrative asset, optimizing your land’s equity potential
- Generate multiple rental incomes depending on how many units you build and possibly double or even triple your investment income
- Eliminate the worry of finding alternative accommodation during construction (if retaining and building)
- Obtain financing and council approvals more easily than other types of developments
Is this type of development an option for me?
The size of your block and the zoning of the area will help to determine whether a retain and build or demolition and subdivision of your property is an option for you. If you are looking to seize the full potential of your property and safeguard your wealth we suggest getting in contact with Jubilee Home Builders. We will be able to assess your options and whether this type of development would be a viable option for you.
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Email us your address and any additional information to [email protected]
