New House for Old Land

When you reach a stage in life and the decision around housing choice becomes a high priority it’s time to re-evaluate where and how you want to live

If your current home just becomes too old and needs so much maintenance or the back yard is over grown and you can’t keep up with all the work, it’s time to re-evaluate

Whether it’s a life event, a change in living arrangements with your spouse or partner or just the right time to downsize and move onto the next phase in your life, the thinking turns to how are you going to make this happen?

For those fortunate enough to have the funds or access to finance, the transition can be relatively simple but for those who just don’t know where to turn for help, you can now just simply look in the back yard and cash in on your excess land

UYB have partnered with one of Perth’s leading builders and have come up with a unique way of helping people build a new home by simply trading in their excess land for the cost of the new build

Here’s how it works

Firstly, let’s assume you are living on a subdividable block big enough to create a second block at the back. There are two scenarios we can look at

Scenario 1- Build on the back half of your block and sell off the old house at the front to pay for it, or

Scenario 2 – Sell off the back block and use the proceeds to demolish the old home at the front and build a new one for yourself

Either way, UYB can make this happen without you needing to have the upfront funds to build as all you need to do is trade or sell your excess land for the cost of the build

Now, this will not work for everyone and the numbers need to stack up, but UYB will arrange all the work necessary to subdivide your land and build you a new home to the same value as your excess land less the subdivision costs. We simply arrange the subdivision and sell your land (no sales commission) and you get a new house at no extra cost to you

If you don’t have the funds to pay for the subdivision, UYB can also take care of and pay for the subdivision costs and this will come off the sale price of the land at the end of the subdivision process

You can of course choose to build a home to a greater or lesser value than the value of the subdivided block

The adjustments will be made so you receive more funds back if the build cost is less than the land value - or you can top up the cost of the build if the build cost is greater than the value of the land

You need to keep in mind there may be some capital gains tax applicable on the sale of the new lot depending on how long you’ve owned the land and we can provide some initial feedback, but it would be worth seeking independent tax advice from your accountant if that’s the case

In summary

  • UYB manage the entire subdivision on your behalf

  • UYB will sell your excess block for you with no commission payable

  • UYB will design and build your new home with the funds from the sale of the block

  • UYB can help fund the cost of the subdivision to help make it happen for you

If you think this can work for you, get in touch and we’ll talk you through all the scenarios and help you make the move with the minimum of fuss …” out with the old house and in with the new”

Fab Marion