Mount Druitt- NSW (Old house with 715sqm land)

Discussion in 'Where to Buy' started by James.Syd, 3rd Feb, 2021.

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  1. James.Syd

    James.Syd Well-Known Member

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    I have posted this in St Mary's thread- but though it would be wise to start a new thread so experienced members can comment.
    oday i went to visit couple of properties both in St Marys and Mt Druitt and saw very old property>>>(sorry thread is about St Mary and I am asking about Mt Druitt assuming it is same region)
    https://www.realestate.com.au/property-house-nsw-mount+druitt-135257254
    My first question is regarding Zoning of this property- I did my research based on one poster previously mentioned that check Council website.. I came to conclusion that this is R2 land where dual occupancy (Attached or detached) is possible but subdivision of dual occupancy (i.e. 2 titles are not possible. Can any experienced user confirm please?

    Below are extracts from Blacktown Council Interactive and Zoning Document:
    [​IMG]

    and here is extract from "Blacktown Local Environmental Plan 2015"
    [​IMG]
     
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  2. James.Syd

    James.Syd Well-Known Member

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    https://www.realestate.com.au/property-house-nsw-mount+druitt-135257254

    2nd question regarding this property is rather a very broad question with following aspects:
    - what things I should consider before buying such property which requires a lot renovation.. I could see kitchen and bathroom will really need some work
    - how much money I should put aside if I want to make it habitable?
    - I am single and I can easily do a lot of work by myself- only thing is I am novice with construction work but I am fast learner- so considering I am willing to do some work by myself and for expert work I will hire someone... what is min amount required to make property livable? any estimates please. I see there is a lot of work in garden but that is an easy one.
    - Ppl like me who are new with property investment/ construction... who are willing to work hard.. is it advisable to take such project or just avoid it and move to a better property?
     
  3. skater

    skater Well-Known Member

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    I think you need to learn more about the area. That is Old Mt Druitt, which is totally different kettle of fish to the HC suburbs adjacent to it. Houses in Old Mt Druitt are a LOT more expensive.
     
  4. Trainee

    Trainee Well-Known Member

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    Are you sure its not habitable now?

    also you will be going against buyers who plan to knock it down. The older the house is, the more competition from this group (look at the house next door).

    hypothetical prices but for example you get more competition around the 750k crap house level vs the 850k nicer weatherboard level. The knock down rebuilders are still saving money even if they bid up the 750k.

    If you are planning a longer term hold, you might also look for ‘better’ weatherboard houses that would rent out easily without any work.
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    Their standards for 'habitable' aren't always the same.
     
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  6. Anthony416

    Anthony416 Well-Known Member

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    I am a town planner and it was good that you picked up that Blacktown LEP clause, many people miss that and expect that if Dual Occs are permitted then they can sub-divide.

    Certainly a trap for new players because many councils do not have that clause.
     
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  7. skater

    skater Well-Known Member

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    Although some somehow bypass that clause. I've seen a few that get a subdivision. Not sure how, because I would have done so by now.
     
  8. skater

    skater Well-Known Member

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    Haha, true! I've seen a few shockers, and this isn't one of them.:eek:
     
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  9. Anthony416

    Anthony416 Well-Known Member

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    Some councils had an additional clause that basically says that if the exisiting dual occ was built before a certain date (maybe mid 1990s) that they can be sub-divided. Other ways are variations to the corner lot rule.
     
  10. skater

    skater Well-Known Member

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    I'm aware of that because I own one of those, however I've seen a few newer builds in Blacktown that definitely should not have been subdivided....but have.
     
  11. James.Syd

    James.Syd Well-Known Member

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    Thanks everyone for your response to this thread.. in short I am right in my understanding about zoning requirements.
    But in terms of whether I should be able to handle such old property is still a big question and I agree that it is in bad condition but still liveable..
     
  12. Lacrim

    Lacrim Well-Known Member

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    Would something in Old Mount Druitt be a keeper for you Skater (amongst the ones you still own)?
     
  13. skater

    skater Well-Known Member

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    Yes, if I had one.
     
  14. James.Syd

    James.Syd Well-Known Member

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    Can anyone post estimates what this property should go for? I searched and found that 3 Vincent street went for approx $675k in Dec 20- it is also an old property with same block size of 715sqm similar to 15 Vincent street but property is in far better condition.
    5 Vincent street went for $750k in Sep 19 with renovated property on it..
    What should I expect the price? I mean what range
     
  15. Lacrim

    Lacrim Well-Known Member

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    Damn ok
     
  16. Lacrim

    Lacrim Well-Known Member

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    I would say early $700s..maybe $700-740K
     
  17. James.Syd

    James.Syd Well-Known Member

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    Thanks Lacrim.. what is the best way to estimate the price other than comparing what other properties on this street have gone for...
    I know at end price is what anyone is willing to pay for but I don’t want to end paying too much as it is gonna be investment property for me...
     
  18. skater

    skater Well-Known Member

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    If this is going to be an investment you will need to spend a bit of money, otherwise you won't get a good return, nor a good tenant. I'd suggest that most people interested in this property are looking for knock down, rebuild.
     
  19. James.Syd

    James.Syd Well-Known Member

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    Investment after a year or so.. I will live in it at first as it will be my first property.. sorry I didn’t clarify that earlier
     
  20. Lacrim

    Lacrim Well-Known Member

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    Well that's what I think it will go for, but normally I try and buy things for less than MV ie less than what others are prepared to pay via dealing with incompetent/out of area agents, attractive clauses, immediate signed contract and deposit etc. Bit hard in this market tho.

    Re: comparables, just look at adjacent streets in realestate.com or if you were prepared to fork out, subscribe to Pricefinder or RP Data.
     
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