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Tauranga’s housing market is currently riding a steady wave, with the average house sitting at approximately $646,378. It’s a good time to be living in this coastal region, and it’s expected to be enjoyed by many more people in the coming years. For homeowners, this means there may be opportunities to make a profit off their property in the near future.
There are a number of ways to turn a piece of property into extra capital, and subdividing it is one popular method. Subdividing property is a great way to release some of the financial pressures, as it allows homeowners to reduce their mortgage, while benefitting financially from their current property. Depending on the property’s size, shape and zoning, the house they are living in could be an unrealized treasure trove.
In the suburban residential zone of Tauranga, the rules state that any property wanting to be subdivided should be around 700m² in size. Homeowners will also need to consider whether their property is accessible, has adequate stormwater, wastewater and water supply, whether the site is unstable or has geotechnical issues, and what size house they might wish to build on the section and how it will be placed. Subdividing a property isn’t easy, but when done properly it can be well worth the investment.
A general staging plan for a subdivision begins with a full feasibility and pre-application meeting with the Council, followed by the preparation of a subdivision consent and lodge with the Council. Once the consent is granted, a consultant will work with the homeowner to find a good contractor for infrastructure works. The final step is to oversee construction works and complete paperwork to submit to LINZ to obtain the new title.
To learn more about land subdivision in NZ, get in touch with Thomas Consultants. They are a multidisciplinary consultancy made up of surveyors, planners, civil engineering consultants and environmental consultants located in Tauranga and Auckland. To schedule a free half hour, no obligation, basic feasibility assessment of your property, contact Gary Scholfield, Thomas Consultants’ lead planner in Tauranga, on (07) 579 9806.