Daily BulletinDaily Bulletin

Real Estate

  • Written by News Feature Team



If you have a large property, there may be money to be made by subdividing it. Land is a very valuable commodity, and developers are always on the look-out to find more of it at a good price, especially if its already in a residential area. Large yards (or even not-so-large yards) can frequently be subdivided to create new lots for building, and to earn some money for the property owner.

 

Professional surveyors like Geo Surv, can help get such a project started. First, you should have an idea about what you're getting into.

 

Why Subdivide?

The main reason why people subdivide their backyards is to sell the new parcel, to make some money in the sale. There can be more benefits for you beyond that. Your property taxes can also be reduced because the size of your lot is now smaller, giving additional financial benefit into the future. There is also less work involved for you to maintain the unused portions of your yard.

 

How to Subdivide a Backyard

There are a number of legal steps you need to take, and you should speak to professionals before you begin. This is just a guide to outline the process so you have have a feel for what's involved. There are probably more issues involved than you realize, and the exact order of steps can vary depending on your situation.

 

It's difficult to outline the possible restrictions because every city or county has its own set of rules and laws. The zoning in New York is going to be different than the zoning in Austin. Rural areas will be different than urban areas, even within the same county. You definitely need to do your own local research.

 

You may not be allowed to create lots smaller than a certain size, or there may be ordinances in place that prevent subdivision completely. There may also be restrictions about how much road frontage is necessary. This can be a considerable limitation if the section of your yard you want to split off is directly behind your house. Drainage fields for neighboring properties may also need to be considered in your plans.

 

In order to sell your newly divided plot, other city services should probably be in place, such as water, power and sewage. This can mean minor or substantial construction projects, all of which you are required to pay for.

 

Once all the legal work and construction has been completed, then you need to sell the plot. At this point, you'll need to get a realtor on board and they can help you sell the property. They can also help you establish the best price for your immediate market.

 

Over the course of the entire project, you'll need to deal with the zoning or planning department of your municipal office, a professional surveyor, lawyers and realtors. It can cost thousands of dollars to divide your property, but the final sale of that lot can still net you a sizable profit.

 

The world endured 2 extra heatwave days per decade since 1950 – but the worst is yet to come

arrow_forward

VIDEO: Michelle Grattan on Melbourne cluster outbreaks, Australia's defence spending, and the Eden-Monaro byelection

arrow_forward

The US has bought most of the world's remdesivir. Here's what it means for the rest of us

arrow_forward

The Conversation
INTERWEBS DIGITAL AGENCY

Politics

Prime Minister Interview with Ben Fordham, 2GB

FORDHAM: Thank you very much for talking to us. I know it's a difficult day for all of those Qantas workers. Look, they want to know in the short term, are you going to extend JobKeeper?   PRI...

Scott Morrison - avatar Scott Morrison

Prime Minister Scott Morrison interview with Neil Mitchell

NEIL MITCHELL: Prime minister, good morning.    PRIME MINISTER: Good morning, how are you?   MICHELL: I’m okay, a bit to get to I apologise, we haven't spoken for a while and I want to get t...

Scott Morrison - avatar Scott Morrison

Prime Minister Interview with Ben Fordham

PRIME MINISTER: I've always found that this issue on funerals has been the hardest decision that was taken and the most heartbreaking and of all the letters and, you know, there's been over 100...

Scott Morrison - avatar Scott Morrison

Business News

SEO In A Time of COVID-19: A Life-Saver

The coronavirus pandemic has brought about a lot of uncertainty for everyone across the world. It has had one of the most devastating impacts on the day-to-day lives of many including business o...

a Guest Writer - avatar a Guest Writer

5 Ways Risk Management Software Can Help Your Business

No business is averse to risks. Nobody can predict the future or even plan what direction a business is going to take with 100% accuracy. For this reason, to avoid issues or minimise risks, some for...

News Company - avatar News Company

5 Ways To Deal With Unemployment and Get Back Into the Workforce

Being unemployed has a number of challenges and they’re not all financial. It can affect you psychologically and sometimes it can be difficult to dig your way out of a rut when you don’t have a job ...

News Company - avatar News Company



News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion