They Unlocked the Equity in their Backyard - You can too!
Amanda - Subdivision in Perth (2:25)
Amanda purchased an investment property a few years ago in order to get into the market.
In that time she has built up some equity in the home and saw the potential of subdividing the property as her vehicle to unlocking the value in the property in order to fund the purchase of a new home she could move into.
Not knowing where to start, Amanda sort the help of Unlock Your Block to demystify and de-risk the subdivision project.
Alan - Subdivision in Woodlands (2:18)
Alan owned an investment property in Woodlands that he wanted to sell in order to access some extra funds for retirement.
With so many options to consider, Alan needed an expert to help him understand how he could maximise his potential returns.
After meeting with us and running through the various feasibilities, Unlock Your Block helped Alan determine that the best return would come from subdividing the land and selling the lots as 3 individual house and land packages with one of our builder partners.
MAX - House & land in Woodlands (3:49)
Max is the proud owner of one of the House & Land Packages that we helped Alan (see video above) create.
In early 2018 Unlock Your Block and Vision One Projects undertook a ‘No Build’ property development in Ewen St, Woodlands.
Our client, Alan, advertised 3 House & Land Packages for sale on the block.
The project is now finished, with the 3 homes built and the new owners moved in.
We caught up with Max, who purchased one of the packages, to ask him about his experience of buying off the plan.
JULIA, Acton Ave, Kewdale
Unfortunately Julia lost her husband to cancer a little over a year ago. Together they had built a new home for themselves to retire in with an aim to subdivide the rear block to help fund their retirement. Before his death the couples household income was provided by Julia’s husband. Everything was on track and looking good. Unfortunately Julia’s husband was diagnosed with cancer and passed away 6 months later.
Fortunately Unlock Your Block were able to help Julia finance the subdivision.
Rebecca, Cassowary Drive, Ballajura
Rebecca was previously working in a high income mining career and had a couple of investment properties. However after the mining downturn, loss of her job and dramatic decrease in income it quickly became difficult to service her existing home loans. With the decrease across Perth in rental income the gap between rent and mortgage payments was becoming too difficult to bear.
Rebecca relocated to Tasmania with her partner and was planning to build a new home. She wanted to keep the property in Perth as an investment however she was highly negative geared.
After receiving a letter from the council advising a zoning change to her area she was optimistic about the prospect of subdividing the land and unlocking the equity in her backyard, however was in the unfortunate situation of not having the money to extract out of the property to fund any subdivision costs as she was over an 80% Loan to Value Ratio.
Fortunately Unlock Your Block were able to help Rebecca finance the subdivision and manage the project on her behalf.