What to look for when buying a knock down rebuild site and costs:

• The construction of two double storey homes around 25 square each
• The cost of the two homes would be around $650 to $700k including subdivision, surveying, design, demolition, planning, engineering, soil testing and all fees from start to finish. 
• Some areas you could be looking at are Doncaster, Blackburn, Vermont, Donvale, Ringwood and Reservoir is also worth a look. 
• Size of land would need to be a minimum 750m/2 plus.
• Don't buy anything with a slope, it will cost extra in build costs.
• Don't buy anything with power lines out the front
• Corner lots are good because of a dual entrance saving space with driveways
• Look for other developments in that area as they can be used as precedents with any objections.
• Heavy tree Lots can be major concern with the council likely not to allow removal of the trees. 
• In the years to come, train stations and other public transport options will be a major advantage.