Stop buying properties with part planning permits if you want to make money on investment!
What is happening?
Investors are buying properties with planning permits thinking that they can go straight to a builder and start construction soon after. This is definitely not the case, nearly all properties sold with planning permits are not supplied with completed documentation.
Items that are in most cases missing are the following: water retention systems designed by engineers, landscaping planning, and energy rating reports. These items are expensive and very time consuming with regards to council agreement and signing off. Potentially costing thousands of extra holding expenses.
Another item that seems to slip under investors eyes are the extra cost added on by the seller of these properties in most cases several hundred thousand dollars.
I would strongly advise buying a property without a (part planning permit) and arranging your own through your builder. You will save a lot of frustration and money.
Berstan Homes offer a complete service from planning to completed construction.