WA Is this a good deal $240k for H&L @ 64 Lakey Street, Southern River?

Discussion in 'Property Analysis' started by WilliamGoh, 30th May, 2020.

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  1. WilliamGoh

    WilliamGoh Active Member

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  2. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    $240k for the house and land? Doesn't sound right
     
  3. WilliamGoh

    WilliamGoh Active Member

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    Doesn’t sound right as in it’s a good deal or...? Remember this is in Perth of WA
     
  4. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    I'd be expecting the price of the block is around $180-200k depending on a few things so I can't see how it could be that price for the land including the construction
     
  5. WilliamGoh

    WilliamGoh Active Member

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    Just For the sake of argument it’s $240k for both [email protected] (although the estimated value of the land is not on the realestate website). Based on your response it’s a pretty good deal ?
     
  6. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Yes I would.
    What investigations have you done to determine value and where did the price of $240k come from?
     
  7. Angel

    Angel Well-Known Member Premium Member

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    And how much "extra" are the costs for everything else required before the "house" can be lived in?
     
  8. investoradam

    investoradam Well-Known Member

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    It seems suss as looking at the map there isn’t even a river
     
  9. Scott No Mates

    Scott No Mates Well-Known Member

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    I'd want a very tight building contract included in the sales agreement ie spec, plans, inclusions for ground conditions, NABERS, council conditions, insulation, driveway, clothesline, internal finishes, whistles & bells.

    Otherwise your $240k will become $400k without flinching.
     
  10. WilliamGoh

    WilliamGoh Active Member

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    Ok just assume that this is all fine, $240k would be a good deal right? (Just remember this is Perth in WA where growth is slow)
     
  11. WilliamGoh

    WilliamGoh Active Member

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    Just assume everything is included (for argument sake), then this $240k is a good deal right? (Remember this is Perth of WA where growth is slow)
     
  12. WilliamGoh

    WilliamGoh Active Member

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    Actuallly pretty sure there is the swan river near the city.
     
  13. WilliamGoh

    WilliamGoh Active Member

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    Im a mate of the developer. Based on your answer I would say the $240k is a good deal. Thanks for your answer =)
     
  14. Angel

    Angel Well-Known Member Premium Member

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    Have you ever looked at H&L before?
    The advertised price is usually for a bare shell of a house. Lights, curtains, floor coverings, security devices/screens, fences, driveway, clothesline, paving are all extra.
     
  15. Angel

    Angel Well-Known Member Premium Member

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    SO the developer wants a cash sale for the first property on the estate so they can say to new buyers that prices have increased since the first lot was sold.
     
  16. WilliamGoh

    WilliamGoh Active Member

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    just assume that everything is included including lights etc (for argument sake) For $240k it should be a good deal right?
     
  17. Empire

    Empire Well-Known Member

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    It's a fantastic deal.
     
  18. WilliamGoh

    WilliamGoh Active Member

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    Ok thanks. Just remembering that this is Perth in WA where it’s a little bit slow.
     
  19. thatbum

    thatbum Well-Known Member

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    Except anecdotally, its not slow at all - the opposite.

    I hope its a mate you trust, because I think many people have seen so called mate's rates on new purchases before.
     
  20. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    What investigations have you done besides ask on here if it's a good deal?
    You need to know all the answers not just assume.
    How much is the land - how does that compare to this part of Southern River
    How much is the construction - is it turnkey - who is the builder
    If the plan is not approved is it likely to be - the street is full of other duplexes by this developer - is the design similar to those and therefore likely to be approved
    How does the all the other duplexes on the street impact on supply