Building Houses Sells Land
House Construction - 4 Bed, 2 Bath, DLUG
Having purchased and completed the subdivision of the former Somerset Dam State School after it closed, an estate we called 'Somerset Village Green' was the result. It was a small eight-lot subdivision of the playgrounds, and renovation of the old classrooms into a residence (see School's Out). Soon after completion of the civil works, land sales were slow. The GFC was in full swing so our great timing left us with a number of blocks remaining, and an aggressive bank hungry for debt repayment. As such, my partners and I purchased a block each out of the estate, and I built a home to generate activity in the estate to obtain either rental income or selling a block by building a house. While not all going exactly to plan, I furnished the home on completion and had success as one of the first Airbnb properties in Australia before the house was eventually sold.