With the homes in Mooroolbark approaching the 40-50 years old mark, they are prime targets for a knock down rebuild. 

The maintenance of the homes at this age has increased to the point in some cases that the cost is hard to justify. The land size is another factor to consider with most homes sited on land over 800m/2, which would comfortably fit two homes. Do the figures stack up?

Scenario knock down rebuild the old home and rebuild two new homes on the one lot costs of the construction are around $700k and by selling one of the properties would leave you with a brand new home with a small mortgage.