Hi All, I am about to place an offer on a property in Melbourne which looks good to subdivide and wanted to get some basic costings from ppl who have done this before. My plan is to buy (price is 402k), subdivide the block into 2 (673 sqm, rectangular in shape, easement along back fence line) and sell the back parcel with a plan & permit (approx 320sqm). Building 3 br unit appears to offer no more margin, especially when you factor in concrete driveway and carports for both dwellings. This is my first time so I am being cautious with my calculations to make sure I don't end up in the red!! Calculations: Plan, permit & surveying: -35k Miscellaneous costs: -7k Utilities Connection: -10k Fence -3k Hold Costs-12 mths -29,355k Lost value to front house due to smaller block -20,000k (+ 12 months capital growth) TOTAL COSTS: 104,355k Sell Land Parcel +140k + Rent (existing house) +17,680k TOTAL INCOME: 157,680k TOTAL PROFIT = $53,325 - Capital Gains I know my numbers are a bit rich in some areas, can anyone give me an indication regarding what it will cost to subdivide in melb?? 4 houses in the street have put a unit at the back so there should not be too many curve balls in getting approval. I had the initial consultation with council today which confirmed that there are no covenants, restrictions etc. If I can fine tune my costs I think there may be more $$ in this deal. Cheers, Mike.