Knockdown or Renovate in Murumbeena

Discussion in 'Investment Strategy' started by Jkk, 21st Feb, 2021.

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  1. Jkk

    Jkk Member

    Joined:
    21st Feb, 2021
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    Location:
    Melbourne
    Bought a home 3 bedroom (not livable) in Murumbeena, approx 800sqm land. First project ..... don’t know where to start? Any opinions on what we should do ?
    1. renovate
    2. Renovate and extend
    3. Knockdown and build
    4. Subdivide and build 2
    5. Subdivide but build one only
    We plan to live there at least 7 years and want to think about subdivision now or in the future.
    Any guidance / recommendations welcome
     
  2. Jana

    Jana Well-Known Member

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    Location:
    Sydney
    Hard to answer until see the property, the price you paid for, condition of the house etc...
     
    The Y-man likes this.
  3. Jkk

    Jkk Member

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    21st Feb, 2021
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    Location:
    Melbourne
    Thanks @Jana here are the details we paid $1.32m 059589B9-2D90-42DD-B623-CD88468931D2.png 7E03513C-3862-4A7D-A85A-14F1A81F99C4.png C91E4DCD-D446-465E-8CD0-46738BDDD021.png
     
  4. Jkk

    Jkk Member

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    Location:
    Melbourne
  5. PropNuB

    PropNuB Well-Known Member

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    Sydney, Australia
  6. Pavan

    Pavan Member

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    VIC
    option 3 or 4...based on how much more you want to borrow.