Opinion on this newly built Merrylands house

Hi all,

I had my eye on this property leading up to the auction last Saturday. It was going to be my PPOR.

Soudan Street, Merrylands NSW 2160 - 5 beds house for Sale, Price guide $1,050,000 - $1,150,000 - 2016446694 | Domain

I really liked the street and location. The house was built very well. I made an offer to the agent of 1.15 two weeks prior auction and advised him that I am also looking at another place near Fairfield which goes to auction 1 week prior to this one. He came back to me after speaking with the seller advising the seller is looking for 1.2 or above for it to be taken off the market. I said I will stick with my 1.1.5 offer. He advised me I better go for the other place as this will most likely go above 1.2. I took that as he has already had strong interest close to 1.2 or above. I told the agent I would be very concerned about the valuation of this. If old blocks at 600sqm go for 800-900k, how would this compare when the land size is 340sqm. He told me not an issue, you have a brand new house built on it.

I didn't expect to win the auction on the other place and the Merrylands place passed through at the highest bid of 1.14. The vendor bid was 1.1.6. Later it sold for 1.1.5 after neg.

The good thing I like about the duplex I bought was that it's 325k cheaper than this 5 bed house and it has a 1 bed granny flat at the rear which rents for $250. I liked the idea of the high rental yield and I know high rental yield is telling me low capital growth.

I now have regrets on buying the other duplex. Does anyone else ever get themselves feeling like I am? Any thought on how the valuation would of came in at for something like this? Not everyday you sell new free standing houses for sale in Merrylands.

 

I don't have much to say other than: the fact that it's almost identical to its neighboring houses turns me off, but otherwise I like it.

 

Merrylands is an excellent location. Sadly underrated. Excellent/central location. Great transport links. Close to Parramatta. Biggest Stockland mall in Australia. This particular part of Merrylands is OK but it is considered the inferior side of Merrylands as it borders Granville. The Hilltop area ( the area surrounded by Burnett Street, Hilltop Road ) is where you want to be if you can afford it

As for the property itself ; you would do far better by buying buy a 600-700M2 lot with an older house on it , in my view. This is on a tiny lot. If you want a new home on a tiny lot you may as well buy in Marsden Park or Oran Park etc. Or save some money and buy one side of a duplex...


More land. at least 200K less money. Hilltop area. - https://www.realestate.com.au/property-duplex+semi-detached-nsw-merrylands-134181794

just down from Hilltop area...
https://www.realestate.com.au/property-house-nsw-merrylands-134406894

 

Well since you already made the purchase just forget about this one and move on.

 

That is good to know about which side is better. Thanks.

 

Very true. Just need to get it out if my mind.

 

Agree. The more you look at the front, the more it looks ugly. The garage door is also very narrow.

 

I did not realise that or things have changed. I always thought western side was inferior. When I bought a place 7 years I wanted to be closer to Woodville rd but due to higher prices ended up being pushed towards Centenery road (not far from hilltop either)

 

the best views are at or near hilltop. Burnett access to M4. Central Gardens . 1.5KM from station . Merrylands oval and pool . The biggest houses are there . Cartwright . Chelsea etc - tightly held and anything that comes up gets 1 million plus usually

 

That Soudan St can be busy with cars taking short cuts to Woodville Rd. When I drove a cab I used to use those streets around there.

But anyway it’s close to shops school tafe and station. And if you worked in Parramatta you could walk there if you were fitness conscience frugal and with good legs.

Not for me, too hilly, walking up Pitt St would bust my chops.

I’d also check the build quality on those neweys.

 

Its just..... a new house. Hard to see any uniqueness. And that means there will be more of these available as long as you have the money.