Hi PC Community, Does anyone have experience (either positive or negative) in an IP that used to be ex Govt Housing or on a street with multiple Govt Housing homes? I am looking at Corio, Norlane around Melbourne and have seen a couple of these properties show up and am keen to get thoughts. Housing commission area means neighbours might be undesirable and may not be attract quality tenants but would love some thoughts from people who have been there and done that. Thanks
Most of mine are ex state housing They're small, basic homes which are cheap and have good yield. It also means they don't attract a grade tenants. Not sure if your area is the same as here where its mostly being phased out, which provides uplift to the areas.
A recent auction Housing comm house just sold in Reza 772k - 550sqm. Go ashwood chadstone - they regularly hit the 1 million mark. And there are some streets filled with them say 70% of them Not sure abt geelong but would depend if the area is gentrifying or just staying the same. There are these Houses even in top suburbs like Balwyn,box hill south, Richmond, port Melbourne etc
Hi, I own one. Simple box house, easy to tenant proof. Wether they are an actual bargain or not comes down to. 1. structural integrity of the house; 2. plans to rezone / gentrify the area; 3. price at purchase. I remember around 2013 when I was trying to purchase more housing commission, it was cheaper to buy a renovated 3 bedroom down the road than a ex-houso at an auction, as perception was that they were bargains. Same as fire-damaged properties. Still finding bargains with 'termite' damaged property, the word scares people, yet damage is usually minimal and termite removal can be negotiated off the already low price.
Sorry to break it to you, but that's almost like asking if anyone has experience owing a small white house. Ex Housing Department houses are everywhere.