In this video, Colin Fragar, our founder and CEO, shares why you might want to avoid dual occupancy project homes.
Click on the “Play” button below to watch now:
Or for those that prefer to read, here is a transcript of the video…
If you’re considering a dual occupancy project home, I have some thoughts for you today. My name is Colin Fragar from Council Approval Group.
Maximizing Return on InvestmentNow, we have literally done thousands of these projects. And I’ve done 10 plus for myself but, surprisingly, I’ve never used a project home builder. And it’s for a reason. Project home builders do a wonderful job in providing housing stock for the community. But they’re largely designed for people who just want to set and forget and who don’t mind paying a premium for that. But the return on investment is massively less than if you do it yourself and I’m going to show you how to do that.
If you have a look at my screen here, I’m going to share with you the different types of council approval that you can get for dual occupancy.
A dual occupancy project home builder will typically have a site like this that will be probably in a Greenfield area, in a land release area, and they’ll show you the whole package. Or you may come to them with a site already and it probably will involve demolition. Usually they have some typical designs, which involve something like this and there’s not too many options to choose from. Really what they’re after is to be able to get the approval as quick as possible, not to maximize your return on investment.
Really what they [project home builders] are after is to be able to get the approval as quick as possible not to maximize your return on investment.
Project Homes AlternativeThe alternative is the Council Approval Group. What we do here is we look at your site. We consider that maybe that type of scenario development isn’t the best and think maybe we can do better. Maybe we can actually subdivide it for you, a dual occupancy subdivision. Maybe we could do a one into three lot subdivision. I know we’re doing that for a client at the moment.
We look at the merits of the site. We work out what is the highest and best use for you. Then we navigate the council approval process. Once you’ve got the council approval in your hand, you can then go to any one of 1000 plus different builders instead of being locked into this original builder over here.
Get Expert AdviceIf you’re considering a dual occupancy project home, I recommend that first of all, before you make that massive financial commitment, that you download our magazine, Your Ultimate Guide to Achieving Council Approval. There’s some case studies in here. I think of somebody called Linda who we talked about approaching us just thinking that she could achieve something minor and in the end we made over $400,000 for her extra to what she was thinking because we were able to pull off a dual occupancy and 1-into-2 lot subdivision.
If you do have a site and you are serious about making an impact on your financial future and security, I recommend that you talk to one of our consultants. If you book in an appointment, they’ll give you a call at the appointed time.
My name is Colin Fragar from Council Approval Group. Thanks for watching and I wish you every success.