Profit From Unit Development Helps Fund Retirement

Profit From Unit Development | Melbourne | DSP Architects

It's Never Too Late To Be Free

Can profit from Unit Development help fund your retirement? Norma P, a lady in her 50’s, owned a corner block in Keilor Park.  She was contemplating selling off her back yard to a developer. She approached us to prepare a feasibility.

Measurements were taken and the necessary due diligence was done. This included items in relation to the Title, regulations, land and services information.

Her initial plan was to put an apartment at the rear of her property. During the initial design process the possibility arose of putting 2 units instead.  As you can imagine this news certainly excited her. She was new to the game though, and concerned about the potential risks.  She discussed the idea with her childen. They advised her to sell the land and let someone else have the headaches.

Profit From Unit Development | Melbourne | DSP Architects

Profit From Unit Development Sets Up Norma's Retirement

Having struggled for years to save for her retirement, and being a bookkeeper,  she did the sums. She realised this could be a once in a lifetime opportunity to make and save enough money for her retirement. She calculated that she could walk away with an extra $300,000, nett of land, in her pocket within 2 years.

It could take 30 years of scrimping and saving to put this kind nest egg away. With our help, she obtained the necessary permits. Negotiations were made with a reputable builder, and she built the 2 units. We are pleased to say that she made $330,000 within 26 months!

Amazingly, this is only part of the story. By this stage she had gained some experience. Her existing house was run down, and needed constant maintenance. She approached us with  an idea. Knock the corner house down and build 2 properties facing the front of her block.  One luxurious house she would live in (her dream house) and the other one she would rent out or sell.

We drew up designs, and obtained permits. We provided her with the necessary advice and liaised with the builder. Now she is living in her dream home and sold the property next door for a record price.

She is grateful that with our help she has her dream home and can now retire. She has made a number of overseas trips and has the time to look after her grandchildren.  We are so pleased that we were instrumental, in some small way, in making such a difference in her life.

Note: All care is taken in researching this information, however, it is general in nature and may not be specific to your case. Independent professional advice should be sought before proceeding with any development.