There are two common ways to subdivide (and increase the $ value) of your property:
Most folk would like to obtain approval for Freehold (or Torrens Title) subdivision- where YOU ARE THE SOLE OWNER.
This isn’t always possible or easy
In the case of Strata title subdivision – you share ownership with others. There is a Body Corporate which manages some common area like the outside area of the building itself, or gardens/driveways/mailbox and rubbish areas. There will be shared expenses like Building Insurance, or a sinking fund for maintenance and improvements.
From a Town Planning or Development Application perspective, the ability to subdivide depends on the zone, lot size and other constraints to the site- including things such as vehicular access, vegetation, and bushfire hazard rating.
If you want to get SERIOUS about SUBDIVISION, you need to know if it’s possible under the applicable Planning Scheme/Controls.
email hello@spacefoundation with your property address and we will let you know 🙂