Turning Grass into Gold!
Build, subdivide and sell for great returns!
Tom Tang and his wife Li Zhang had owned a large family home in Epsom for many years. They loved their home and the location. But once their children had grown, the garden was no longer getting the use it once did. The couple contemplated selling but were reluctant to move from the home they’d treasured. Instead, Tom and Li considered how they could keep their home while putting the land to better use. Reducing the size of the grounds would reduce the time they needed to spend maintaining the gardens and allow them to realise a sizable portion of their original equity. Build, subdivide and sell seemed a logical option.
The simplest option would be to simply subdivide the land and sell the bare section. However, Tom and Li recognised that by doing this, they’d not only reduce their profit opportunity, but they’d also have little control over what would be built next door. Their better option was to choose the design of the new home, organise the build and subdivision and sell it once completed.
For a couple who had never built before, they were conscious that, for them, this would be unchartered territory and they’d need to choose their partner wisely. High on their selection list was finding a team who could manage all aspects of the development from the initial planning, gaining consents to the construction and then managing the subdivision.
Tom and Li also decided they’d prefer to build a home based on an established design; a plan that had been built numerous times before. This would reduce their risk and allow the project to be completed faster. And of course, they also wanted to build a home that they knew would look great, and stand the test of time, since they’d be living right next door!
It was these factors that led them to partnering with Ashcroft Homes and working with Ashcroft Property Development Consultant, Nathan Wiley. After reviewing the site, Nathan recommended Tom and Li add an Ashcroft Luton design to the rear of the site.
Once complete, the newly constructed home was offered for sale and sold promptly. The couple continue to live in their original home and have enjoyed a healthy return from the development. They were so happy with the outcome of their first project with Ashcroft Homes, that they are currently looking for land to do another development!
This was our first time building a home and we would like to say we are very happy with how Ashcroft Homes handled the entire process. From the subdivision to construction, the entire process was stress free with a professional team who would always keep us up to date.
Tom Tang and Li Zhang
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