Subdividing Lot and Rebuilding Existing Bungalow with New Duplex

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Question: Subdividing Lot and Rebuilding Existing Bungalow with New Duplex

Alan
Calgary

Posted 8/23/2012 at 5:02:01 PM

Hi Everyone,

We are looking for some advice here on subdividing our lot and taking down our current house to rebuild a duplex on it and stay in one and sell the other.

Current House SQ Footage: 1092 sq ft (Main) + 1092 sq ft (Basement)
Lot Size: 60 ft x 120 ft
Zoning: RC-2

Price to Demolish House: $50,000.00 possibly?
Rebuilding of Each Duplex: $150 per sq ft with unfinished basement at 24 ft x 60 ft duplex build = $216,000.00
Permits: $20,000.00 Approximately?
Hidden Fees?

We've notice that some landlord does joint venture with home builders to have their home rebuild but we are not sure what does the usual/standard joint venture agreement includes as well as the profit splitting.

Hope that we are able to find our answer here.

Thanks.

Alan

RESPONSES

Laurie from Fortress Construction Incorporated
Construction Contractor in Toronto

Posted 8/26/2012 at 11:27:34 PM

Budget numbers seem realistic, however the zoning is what will get you check this out first.

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Subdividing Lot and Rebuilding Existing Bungalow with New Duplex

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