VIC How much would you pay for this home in Victoria? Good buy as an IP in a good area??

Discussion in 'Property Analysis' started by Kushanda, 31st Mar, 2022.

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  1. Kushanda

    Kushanda Well-Known Member

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    https://www.realestate.com.au/property-house-vic-vermont-137582690

    Asking on behalf of a friend;

    How much would you pay for the above property??

    Basically, the contract stipulates that;

    “Any non-compliance of improvements or requirements to the property with The
    Victorian Building Regulations, Municipal By-Laws, relevant statues and/or any other regulations thereunder, shall not be deemed a defect in the Vendors’ Title and you are not entitled to claim compliance or compensation from the Vendors for any non-compliance

    Friend’s concerns;

    1. What can I do to ensure that I am not getting myself into an unknown territory by buying a property with lots of defects?
    Or is unlivable?

    The home is currently vacant at the moment…

    Thank you….
     
    Kushanda, 31st Mar, 2022
    #1
  2. skater

    skater Well-Known Member

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    If you have concerns about the house, don't buy it. Simples!
     
    skater, 31st Mar, 2022
    #2
  3. The Y-man

    The Y-man Moderator Staff Member

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    Get a B&P done.

    Make offer by the asking price less estimated cost of repairs on the B&P.

    Make sure you visit the area at night.

    It's opposite the pub, petrol station and near both a major arterial (Canterbury) and Eastlink, as well as a nice set of big powerlines.

    The Y-man
     
    The Y-man, 31st Mar, 2022
    #3
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  4. SuperOlaf

    SuperOlaf Well-Known Member

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    The property is on Heatherdale Rd, which itself is a busy road. The possibility of a big development on the hotel site opposite is high as well.
     
    SuperOlaf, 31st Mar, 2022
    #4
  5. 10khours

    10khours Well-Known Member

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    I wouldn't buy this unless you enjoy hearing the sounds of traffic all day. Make sure you visit at 8am or 5.30pm on a weekday and see how noisy the traffic is. Even if you don't mind the traffic noise yourself, it's harder to sell it later because most people hate traffic noise.
     
    10khours, 3rd Apr, 2022
    #5
  6. wylie

    wylie Moderator Staff Member

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    Can "bedroom 3" even be called a bedroom (no window)?
     
    wylie, 3rd Apr, 2022
    #6
  7. Marg4000

    Marg4000 Well-Known Member

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    From a photo of the roof there appears to be a skylight over bedroom 3 which may be sufficient?
     
    Marg4000, 3rd Apr, 2022
    #7
  8. Chris B

    Chris B Well-Known Member

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    It was for sale late last year and it appears to be an Agent Advised sale for $1.02m, so I would be trying to find out what happened with the original purchase.
     
    Chris B, 4th Apr, 2022
    #8
  9. Julia.564

    Julia.564 Member

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    Best is to get the building and pest inspection and go from there.. There may be more issues than what you can see.. also it's on a fairly busy road which isn't very appealing due to traffic noises etc..
     
    Julia.564, 4th Apr, 2022
    #9