Developing a lot in an existing residential community

[Account Closed]

A few years ago I bought a property on a large lot. The property is in a nice residential area and can easily support new construction. Many of the homes in the neighborhood are 300 - 400K even in these depressed times.

The lot is large enough that theoretically it could be subdivided into 4 lots. Practically speaking though only 2 - 3 lots can be done. In order to do 3 lots a small private road would need to be created. Two lots could be done without this detail.

The property has been doing well for me with the existing home, but now I want to take advantage of the land that I have.

For any of you developers out there:

Can you share your experience with developing lots like this. Perhaps you can share your experience about the process as well.

I have been working with the city and have a good idea of what the city will want. I will also be looking for a developer and contractor to work with.

[Karen Margrave]

Charles Perkins Maybe you could post your parcel map? Do you have to put in curb, gutter and sidewalk? Underground utilities? How far away are utilities (you said there's a house there, so I would assume they are at the property).

What size houses are selling for the price range you are trying to market to?

If you split the parcel in two, would you be tearing down the one house to build another, and if so, would that mean that you'd be using those utilities and septic for the new house, or would you be required to hook up to new septic system?

Also, ask if you get credit for the permit fees already paid for the exisiting house, some places do that. What is the terrain, flat? Does it drain well?