Five Things to Consider Before You Subdivide
If you are a property owner on a decent plot of land, you may have considered splitting the section in two. Or maybe you’re an investor, on the lookout for large sections of land to subdivide and sell. If this sounds like you, the land specialists at Tararua Surveyors have created a list of five things to consider before you start the land subdivision process.
1. Can the Land be Subdivided?
When it comes to subdivisions, not all land is created equal. If you are interested in subdividing your section – or buying a section to subdivide – your first consideration should be the land itself as there are some necessary requirements to be met. The land must be of a certain size and shape, and it must be accessible to the road with services like electricity, water, wastewater and telecommunications available on or near the site.
Your land could dictate whether the subdivision will be straightforward, complicated or, in some cases, impossible. It pays to talk to a land surveyor from the outset to determine if your land subdivision project is going to get the green light.
2. Local Council Plans and Zoning
Once you’ve assessed the land, the next thing to do is make sure your land subdivision goals comply with your local Council’s District Plan. These Plans vary based on location, so whether you are in Wellington, Levin or Kapiti Coast will affect what is allowed when it comes to subdivisions.
You’ll also want to check with Council which zone your land is in – is it residential or rural, business or special purpose? – as the zone your land falls in determines how it can be used and whether a new plot can be made.
3. The Time Involved in Land Subdivisions
Subdividing land is a lengthy process with many steps involved to see you go from idea to resource consents, Cadastral survey to certification. The subdivision process can often take over a year to complete, and this can extend further if there are complications along the way. Decide if you are ready for a long-term commitment and talk to Tararua Surveyor’s subdivision specialists for a guide on expected time frames.
4. The Cost of the Project
It’s important to be aware of all the costs involved in subdividing your land. Due to the variable nature of subdivisions, it often costs between $50,000 and $100,000 for a straight-forward subdivision – more when there are complications. Because land subdivisions is not a one-size-fits-all process, your best bet is to talk to a land surveyor to get an estimate on the cost for your particular subdivision and determine if it is going to be worthwhile.
5. Look at the Property Market
If everything has gone well so far, the last thing to do is look at the property market in your area and estimate the amount you’ll be able to make out of the new property. Do some research into the property values for similar sizes and layouts and see if they are in demand. You could enlist the services of a real estate agent to help you determine what sort of houses sell in your neighbourhood and if you’re going to see a good return on your newly subdivided section.
If you’ve thought long and hard about subdividing land in Wellington, Upper Hutt, Lower Hutt, Levin or the Kapiti Coast and you’re ready to get the ball rolling, talk to the land specialists at Tararua Surveyors today.