NSW Buying near a busy road

Discussion in 'Where to Buy' started by home_buyer, 17th Sep, 2020.

Join Australia's most dynamic and respected property investment community
Tags:
  1. home_buyer

    home_buyer Member

    Joined:
    21st Aug, 2020
    Posts:
    8
    Location:
    Sydney
    Hi, There’s a property I’m looking at which is 5 minutes to the nearest metro station which means it’s very close to a busy road. It’s a big land and has subdivision potential. Should I go for it?
     
  2. spoon

    spoon Well-Known Member

    Joined:
    17th Nov, 2016
    Posts:
    1,765
    Location:
    Time-dependent
    Is it 5 minutes walk? If sub divisible, maybe good potential for units or apartments.
     
  3. home_buyer

    home_buyer Member

    Joined:
    21st Aug, 2020
    Posts:
    8
    Location:
    Sydney
    Yes it is 5 minutes walk to the metro station. It’s medium density zone as of now. Can we build townhouses in a medium density zone?
     
  4. Angel

    Angel Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    5,816
    Location:
    Paradise, Brisbane
    Can we build townhouses in a medium density zone?

    What does the planning department say on the council's website?
     
  5. Paula Ospina

    Paula Ospina Active Member

    Joined:
    10th Jun, 2017
    Posts:
    43
    Location:
    sydney
    Is it on the main road or just close to it?

    I would suggest call the local council first (ask to speak to the town planner) and do all your DD first if you plan to develop (note that planning changes over time, however you mention its close to the metro - generally zonings around metros and stations don't really change and if they do its to allow more medium/high density)

    If your not planning to develop, just consider that properties on a main road usually go for less than similar comparables and also when you do go to sell in the future there may be less demand as the pool of potential buyers may be reduced as they will be asking themselves the same thing about living and investing next to a main road.