Duplex
727m2, Low Density Residential, Mudjimba, Sunshine Coast City Council, Queensland
Have you ever dreamed of owning your home while funding your retirement through property development?
Bridgette and Geoff had this exact strategy in mind when they purchased this site on the idyllic Sunshine Coast, with grand plans to knock down the existing structure and build a two-storey duplex.
Settling at the end of COVID and originally intending to keep both, the journey wasn’t as “bright and sunshiny” with this project as envisioned:
- Town planner vs Council, caused delays!
- Despite Fixed Price Contract, rising materials cost blowout of $75,000! Eeeek!
- Pages of prime costs…
- In total, 12 variations with extra cost of $150,000!
- Building delays due to COVID – shortages of trades and materials
- Settlement to handover was 2.5 years!
- PLUS a daunting two hour drive to the property became a recurring challenge!
Learn from their experience as they changed tack to sell one property using the margin scheme and the “must-have” record keeping that enabled them to do this!
Join us as Bridgette and Geoff share the highs, lows and invaluable lessons from their duplex project. RSVP now to lock in your seat!