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NSW Buying on the ground floor

Discussion in 'Where to Buy' started by Darlinghurst Boy, 9th Jul, 2015.

  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    yesterday i went out to Mount Druitt in Sydneys Western suburbs to look at a 1 bedroom unit in a complex.
    It was on the ground floor with the balcony facing the carpark and the balcoy was right next door to the front entrance doors to the complex.

    Now with the amount of graffitti around along with kids riding their bikes,(it was about 12pm so obviously no school?) i knew there maybe a few social type problems here and was concerned about the balcony not being enclosed even though the balcony doors had the steel mesh door.

    It is not tenated but would fetch 210/230 weekly.
    The real estate agent told me that theStrata wouldnt allow the balcony to be enclosed or caged up as the previous owner had applied before and i was grateful he told me the truth.
    He could of easily said he didnt know and fobbed me off.

    Obviously its not me going to live there but i would be concerned if anyone wanted to live there with the balcony only metres away from the carpark and right next to self slamming glass entry door.
    Maybe some tenants dont mind that but i wonder if it hold back capital gain.

    I would prefer to enclose the balcony with bars done nicely .
     

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  2. Chilliblue

    Chilliblue Well-Known Member

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    Bars could be an insurance risk so check with your insurer.

    Ground floor units can be appealing to those older or infirm tenants but the location has to afford some privacy.
     
  3. smokyjoe

    smokyjoe Active Member

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    It's school holidays, so don't judge their parents too harshly!
     
  4. C-mac

    C-mac Well-Known Member

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    The ground floor factor can be figured out, it's the '1 bedroom in Mount Druitt' part that concerns me. Not convinced that this is the right kind of stock to invest in, for this area.
     
    WinDyz. likes this.
  5. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Personally i would feel unsafe in that unit , any drunk on a late night can jump over that railing.
    Then the noise of the slammed entry door next door.
    Still i suppose someone will pay the 280k they want for it.
     
  6. WinDyz.

    WinDyz. Well-Known Member

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    Ground floor with courtyard is very popular and is pretty rare to find these days. However investing in a unit with a ground floor only benefit in a certain area and i believed its more suitable for 2 bedroom (i.e. young family with children, who can't afford houses).
     
  7. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    I would pass on that and buy a 2 bedder. Far more rentable and appeals to wider range of tenants
     
  8. C-mac

    C-mac Well-Known Member

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    Exactly, Dave! That's where I was going with my comment earlier. 2-bed is the go, and ideally above ground floor in a secure building.
     
  9. datto

    datto Well-Known Member

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    Cmac, you only get what you pay for. A 2 bedda will cost more.

    I bet that one bedda was half the price 10 years ago. There will always be capital growth anywhere in Sydney.

    With good security that unit will be easy to rent out IMO. Sure, noise may be an issue but a person meeding a home will get used to it.

    Less mobile/elderly people prefer ground floor. It's a niche market.

    Anyway noisy kids will be heard from the top floor. Noise doesn't magically stop at first floor.
     
    WattleIdo likes this.
  10. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Easy to deal off the balcony, customers can walk up and not have to worry about the security door
     
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  11. WattleIdo

    WattleIdo renovating Premium Member

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    Good point. A lot of cat-owners might prefer a ground level too.
     
  12. Big Will

    Big Will Well-Known Member

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    Everything has its price, if you put it to rent at $1 pw it would rent in a second and if you put it for rent for $1,000 pw it will sit vacant.
     
  13. Be Developer

    Be Developer Property Developer Business Member

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    @Darlinghurst Boy

    Did you not just regret buying studio apartment?

    No point buying 1 bedder in that market
     
  14. poeter

    poeter Active Member

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    My ground floor unit is rented to a single parent with a 2-3 yo kid. Funny enough the unit above us had complained to me about my tenant's noisy kid.