It’s a slow old process. It’s already given us dozens of should we/shouldn’t we conversations and shiploads of stress-induced insomnia. And we haven’t even begun.
This week we chose our path. We signed an agreement to get this project moving along.
We (officially) have a subdivision consultant, Adam.
We have an architect, Charles, creating a plan for our new abode.
And we have a detailed estimate of subdivision costs.
Yes, Adam and Charles are brothers. We like that. Between them, they have a deep pool of knowledge and creativity … and a star-studded network of contacts.
Adam’s costings have given us a realistic insight into what this sort of project can cost. We had people telling us we could do this subdivision for $30-$40K. A ridiculous figure when you consider what needs doing.
At this stage, our estimated costs are $108K. That includes the demolition of our existing triple garage and part of our house (gulp), reconstruction of our laundry area and house wall, fencing, landscaping, engineering report, plumbing and drainage (big-time), architect fees, legal, driveway crossing, connection of services, permits, and so on … and on.
It’s not for the faint-hearted. It’s damn scary. And those costs will just get us to the point of having two separate titles, one with our existing home and the other with approved plans for a townhouse.
At that point, there’ll be another fork in the road to consider. We could opt to sell the block with plans, or the existing home, or both. We could engage a builder, further develop the plans and build the townhouse, either to live in, or to sell. Lots of options, wrong-way-go-backs and pull-out points ahead.
For now, we’re sitting tight. Waiting for the fun to get started.
And, I’m trying to remember when it was we started to talk about costings in terms of Ks. It’s now our vernacular. Somewhere along the line, we realised that if it wasn’t a K (or multiples thereof) then it wasn’t worth talking about. At this end of the project, everything gets rounded up. Thinking in Ks is counter-intuitive for someone deep into a second year of buying nothing new. I’m looking forward to using that other, more natural part of my brain that likes to bargain down the dollars (and sometimes the cents) instead of measuring (and spending) in Ks.
For now, our reality is this: a subdivision schedule stretching 34 weeks and 108K ahead.
All being well.
If all the ducks line up.
Let the wild rumpus start!