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IP Three Level Townhouse Yah or Nay

Discussion in 'General Property Chat' started by datto, 22nd Jun, 2016.

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IP Three Level Townhouse Yah or Nay?

Poll closed 20th Jul, 2016.
  1. Yah

    5 vote(s)
    33.3%
  2. Nah

    10 vote(s)
    66.7%
  1. datto

    datto Well-Known Member

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    Mt Druuiitt
    Located Syd South West.

    2 bedda double garage less than 10 min walk to station. Looks big. Just over 500K asking. One bath 2 toilets. Big court yard. Probably rent $400 pw.

    Last sold a couple years ago for about 250K.

    Plan to low ball the agent and possibly headlock him if he gives any cheek.

    Big issue is the three levels. Guess a lot of tenants don't like too many stairs.

    Is three levels stretching it?
     
    bobbyj likes this.
  2. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    If it was 3 or 4 bedrooms I'd go for it. But just two... too many stairs imo.
     
    Pumpkin likes this.
  3. datto

    datto Well-Known Member

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    Good point.
     
    legallyblonde likes this.
  4. aushousingcrash

    aushousingcrash Active Member

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    if its close walking distance to a University (yes for a good price) otherwise nah.
     
  5. bobbyj

    bobbyj Well-Known Member

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    I wouldn't be too deterred from the levels. It might suit a certain type of tenant.
    If the numbers work for you and you see growth in the long term then go for it. Or just headlock the agent to make friends. Doesn't hurt to increase your contact base.
     
  6. C-mac

    C-mac Well-Known Member

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    Yield isn't super-amazing.

    How many in the complex and what's the strata costs? Or is it Torrens?
     
  7. datto

    datto Well-Known Member

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    Not near any university. Thanks for the input.
     
  8. samiam

    samiam Well-Known Member

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    on my way
    Walk to station is gold in syd, and town house at that price.
    Is ground floor all garage?
    I would. for some reason, I like multilevel town houses. better to have a toilet each level though.
     
    KayTea likes this.
  9. C-mac

    C-mac Well-Known Member

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    Also.. I don't follow greater SW Sydney closely, but it is a curious time (cyclically) for you tp be pondering a buy in this part of Sydney, Datto. Do you really think there's much juice left in the cycle down there?
     
  10. datto

    datto Well-Known Member

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    I estimate about 18 in the complex. There is a mix of townhouses and units.

    It would be strata titled but don't yet know the levies. I've looked from the outside.

    Further DD required but I am weary of three levels.
     
  11. C-mac

    C-mac Well-Known Member

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    Well your target rental market in that area won't exactly be grannies with walking sticks (who don't like stairs), but at the same time I've always believed (rightly or wrongly - happy to be ridiculed for this as I am not a parent!) that young families also don't like stairs either.

    Young new parents with kids under under 3 would see stairs as another safety risk for their baby/toddler, no? And there are a lot of these young families in this area. People seem to be popping out babies left, right, and centre, down there!
     
  12. datto

    datto Well-Known Member

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    I think prices in the area have levelled or maybe dropped slightly.

    Capital growth may be finished for now. That's why I won't accept asking price and will go low ball.

    The good points about the townhouse is its size, double garage and close proximity to station.

    From what I could see the ground floor is comprised of a double garage and a stairwell rising to the middle level.

    Stairs! Some people like them but I think many don't. Hey, it would be a great way to keep fit.
     
  13. dabbler

    dabbler Well-Known Member

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    3 months after APRA was time to buy in SW, it has picked back up again now, 2 bed units were going back to 360, but now again 380+ , houses are also again selling, the IR reduction has fired it back up......but probably for the last puff...

    I been looking at a few things, but my thoughts are, if it is still creeping up slowly once election and IR direction changes, then will buy possibly, otherwise can wait.

    The new units are just starting to come online, and been getting quite a few emails lately on new units and ones in the 500k bracket, I think these may be ones already falling over, have you seen the 22+ floors going up now ? When I looked 6+ months ago before it started, they were brining all Chinese nationals out to look at it....
     
  14. Marg4000

    Marg4000 Well-Known Member

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    The stairs will make furniture moving in/out more difficult for tenants, even young ones.
    Marg
    (A nanna but no walking stick yet!)
     
    wylie likes this.
  15. wylie

    wylie Moderator Staff Member

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    I called a few agents when we were deciding whether to try for tri-level townhouses in Coorparoo. Agents said for both sales and rentals, three levels took longer to shift than two levels.

    We did try to push for three levels for one of the townhouses to get better views, but council said flat out "no".

    I have a friend living in a townhouse with three levels. It feels really squashy and if I had a choice, I'd have larger areas on two levels. Stairs take up a lot of room and cut into rooms on each level.

    If the price is right, I'd still buy though.
     
  16. Chrispy

    Chrispy Well-Known Member Premium Member

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    With a double garage on the ground level and staircase then 3 levels not an issue. Tenants would see this as a 2 level townhouse. Once inside then you are only going between two levels plus having better views from top level.