Small (very) Lot Subdivision; 1 into 2 and Construction of New Home

​

Developers, or as I like to call them, 'home builders' create places for people to live. I love the creation. It’s something I can hang my hat on long after completion and embarrassingly point out to my kids every time we drive past. But honestly, I like building things; I enjoy knowing lives will be lived in these walls, memories will be created, and I just hope they are as good as those I have from my upbringing. 

This wasn’t my best creation. A lovely old, though small, 2 ½ bed, 1 bath Queenslander with a big underutilised back yard. Zoned suitably, the back yard was sub-divided and a new home constructed. One family housed prior and now instead, two. 

The market timing was bad and we didn’t benefit from any real growth above our costs, and when the GFC hit hard I gave my shares in the project to my partners for $1. They always rented well and were eventually sold to regain the capital, but the product outcome wasn’t ideal, and no gain was made for the time and effort outlaid – something that embarrasses me still, even as I write this. In hindsight I could blame the market but really, I do think we tried to fit a square peg into a round hole. Always learning!