Covenant for sub-division

Hi PropertyExpert peeps,

I am interested in a 760m2 property (Owner occupied) with a covenant on sub-division. The property is just few meters from a 87 (Better education) rated primary school. Based on my analysis , following are the pros and cons :

Pros :

• Few future prospective buyers can be more interested in a area where there are no sub-division allowed
• Good primary school, so rental value will be good (in case if I have to move out and rent it out)
• Based on the below link, in future if any one of the resident breaks the subdivision covenant , then it opens up opportunity for me :

The ins and outs of covenants

Cons :

• Can't unlock future price growth due to sub-division covenant.
• Few targeted buyers, so can't expect good selling price (in case if I have to due to unforseen circumstances)

Any other opinions or recommendation whether to go ahead please ?

PS : None of the property in the same street has been sub-divided so far

Thanks,
Melbie

 

I suspect many ppor owners would like the no subdivision covenants in the area as the area won't be changed dramatically by potential density increase and the disruption and noise of duplexes and townhouses being built.

 

Thanks for your reply