Welcome to my blog. My name is Deborah. About 15 years ago, I bought an old home. We worked with several contractors to rehabilitate it, but ultimately, the foundation simply wasn't stable enough, and we had to tear it down. After that, we worked with a construction crew to build a home from the ground up. The experience was exciting and challenging, and I learned a lot through that process. I want to share construction and contracting facts and information with others so I decided to start this blog. I hope that you like the results, and I thank you for reading. Enjoy!
Converting an industrial property into a residential property can be an alluring proposition. While the cost of the land and existing dwelling can still be significant, you will generally pay less for a disused small property or office building as opposed to an already finished residential property. But how easy is it to turn an industrial property into your dream home?
The location of the property is key. While there are a number of industrial properties located close to major city centres around Australia, you need to ensure that the location works for you. Assess the location as you would if you were buying a family home. Are there sufficient amenities located nearby? You need to consider things such as schools, public transport, and entertainment. If you don't drive and the industrial property in question is located several kilometres from the nearest bus stop or train station, then the property might not be right for you, regardless of its potential.
Can you actually convert the property from industrial to residential? Such conversions might not be permitted depending on the property's location, and the area might be earmarked for industrial use only. There can also be restrictions on the extent of any permitted conversions. It can be difficult to add extensions to the property, and you might also be prohibited from demolishing any part of the property. Such restrictions can weigh heavily on what you might hope to achieve with the property. Check with your local council very early on in the proceedings, as they will be able to tell you exactly what is and is not permitted in terms of zoning. This will ensure that you don't waste time making grand plans for a property when such plans are not at all feasible.
The Long Game
Depending on your budget, you might not be able to afford to maintain your existing home while the industrial space is being converted. You could make the new property liveable as soon as possible, move in, and then take your time to achieve the finished project. This allows you to manage your costs, whether you do much of the work yourself or whether you hire builders. The act of making the property liveable will vary significantly depending on the existing condition of the property. At the very least, it will need to be extensively cleaned and made secure (doors and windows might require new locks). You could rent a modular bathroom and kitchen for the property to make it liveable while the work is being performed. These modular units can be quickly and easily installed in any location that has water and electricity.
So while such a conversion is not everyone's cup of tea, it can be a fantastic way to tailor a well-located property to your needs.Share