Subdividing property results in the creation of new physical addresses for each lot, and it's not without its hurdles. Just because you have sufficient space to subdivide, it doesn't mean that you can. What are some of the hurdles that will need to be jumped when you want to subdivide your existing property?
Is Subdivision Permitted?
The first question is whether or not you will actually be permitted to subdivide, although this information can quickly be located. Contact your local council to find out whether subdivision will be allowed and any applicable restrictions to building work. These restrictions can affect the number of independent lots the property can be divided into, as well as the size (including the height) of any dwellings constructed on these lots. Being permitted to build is not the same as receiving planning approval, which will be granted once more solid plans (which reflect any applicable restrictions) have been drafted.
Does the Layout of the Land Support Subdividing?
The layout of the site will play a key role in your subdivision plans, which is fairly logical. The slope of the land can impact the nature of the buildings earmarked for the site, as can street access (which can necessitate shared driveways). It's not as though an oddly shaped piece of land on a slope will make subdivision impossible, but it can complicate the planning and construction of a potential dwelling, particularly when factoring in services such as sewage and electrical/telecommunications cabling. Perhaps less of the original site will useable than first thought (which can reduce your profits).
How Will the Subdivision Affect Your Daily Life?
Your own convenience and quality of living also need to be considered. Although a property developer might suggest that a certain number of dwellings can be constructed, with the area being zoned to accommodate this, the installation of a number of new homes on what was, until very recently, your property can have a considerable impact. You need to think about the length (and noise) of construction, as well as any sacrifices to your view, the sudden proximity of new neighbours where none previously existed, and even your own ease of access to your property. This is not to say that you should sacrifice your subdivision plans (and the subsequent financial gain) for the sake of your own convenience, but if you feel that the development will have a significant impact on your daily life, you could consider scaling back the scope of your subdivision plans.
A prime piece of land can often be subdivided to create new homes for appreciative families, along with a tidy profit, but there are some questions that need to be answered first. Contact a local land surveyor to learn more about subdivision for your property.