Is Now a Good Time to Subdivide?

In the wake of the Covid-19 pandemic and NZ’s lockdown, you may be wondering if now is a good time to subdivide land. Perhaps you already had plans in place and aren’t sure whether or not to go ahead. Or maybe the prospect of turning an asset into cash in these economically uncertain times is appealing. Whatever your reason, the surveying specialists at Tararua Land Surveyors have broken down the factors to weigh up when deciding if now is a good time to subdivide.

Will your subdivision get a good return?

While it’s true that property markets across the country have taken a small hit – and a larger hit may still come – subdividing land is still giving land owners in Wellington, Levin, Porirua and the Kapiti Coast a decent return. The reality is the market always has peaks and troughs, but splitting sought-after land into sections and selling them is still a good way to generate some capital.

How does your bank balance look?

While it may be tempting to trade in some land for cash, first make sure you have enough capital to complete the job. This is where a financial advisor might be worth talking to. No two subdivisions are the same and the cost is variable, so it’s wise to have a chat with a land surveyor to get a realistic idea of how much subdividing your particular slice of land will cost.

Do you have the time and energy to subdivide land?

It’s important to take a comprehensive look at what the project will cost you not only financially, but in terms of time and energy too. From idea to consent, land survey to title, even simple land subdivisions can take a year or longer to complete. Not something to be done on a whim, we suggest you make sure you are committed.

How are your stress levels?

We have all been through a stressful time of late – are you prepared to take on the extra stress that comes with a land subdivision? If you’ve already been finding it hard to sleep, you might want to reassess the situation in a few months. On the other hand, if your stress levels are in check, you have the capital and you’re excited about getting started, there’s no need to hold off any longer.

Are you committed to health and safety?

We are back at work but it’s not exactly business as usual. The land surveyors at Tararua Land Surveyors have always prioritised health and safety, but this has taken on a new twist. Just like every other workplace in NZ, we are abiding by new contact tracing and physical distancing rules to provide our staff and clients a safe work environment.

Are you using a professional land surveyor?

Now more than ever, you need to make sure that your land subdivision is being carried out by experienced, reliable professionals. With tighter budgets, fewer buyers and market uncertainty, now is not the time to seek out fly-by-night services. Instead, trust well-established and professional local land surveyors.

Is it time to subdivide?

While this checklist can help guide your decision, only you can know if now is the right time. If you’re keen to subdivide in Wellington, Levin, Porirua or the Kapiti Coast, get the ball rolling by giving the land survey specialists at Tararua Land Surveyors a call.