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Opinions: Double garage 3br or Single garage 4br

Discussion in 'General Property Chat' started by Connor, 27th May, 2016.

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  1. Connor

    Connor Well-Known Member

    Joined:
    31st Aug, 2015
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    142
    Location:
    Melbourne
    So I'm about to sign off on the plans for an investment build of a 3/2/2 home on a small lot in Officer, Vic. And the builder suggests I consider changing to a 4 bedroom desgn, which incorporates a larger living area but a single garage.
    The lot will fit a 16sq home on it.
    What are your opinions on this? The 4 bedder should get an extra $10-15 per week rent, but come resale time I'd think the single garage would be less desirable. Build price would be the same.

    I'd love to hear other people's thoughts :)
     
  2. Subodh Shirodkar

    Subodh Shirodkar Well-Known Member

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    19th Jun, 2015
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    Location:
    Sydney
    Hi Connor,
    In my view it really goes back to what is acceptable in local area. While an additional bed room will definitely give you extra rent, you also need to target larger families who may perhaps have more than one car. Is there an option of off street parking?
    I would ask local real estate agents. Check what is the norm on Realestate.com and other similar sites.
    From resale perspective also consider how much compact the site looks. Sometime purchaser also look at the overall appeal of the dwelling and not only no of bedrooms.
    You may also want to consider on completion valuation to see if you can get best bang for your investment in terms of future redraw.
     
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  3. wylie

    wylie Moderator Staff Member

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    Location:
    Brisbane
    Have you asked the local agents what they think the area calls for? Which is better for rental and resale. I'd be doing that. Ask a few local agents.
     
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  4. Lizzie

    Lizzie Well-Known Member

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    Location:
    Hunter Valley
    Depends entirely on where the property is located and what market are you aiming for.

    If it's right next to great public transport, and walking distance amenities, and the occupants are likely to only have one or two cars, then one garage is fine ... but if there is going to be more than two cars then you need a minimum of two garages otherwise your front yard will become a caryard
     
  5. sash

    sash Well-Known Member

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    Location:
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    I would go for a 3x2x2....at 16sqm any 4 brm is going to be small.

    At resale you would struggle....
     
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  6. Connor

    Connor Well-Known Member

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    31st Aug, 2015
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    Location:
    Melbourne
    My main concern would be that a 16sq 4 bed home would be small for a larger family, and a single garage would also mean less storage space. I've noticed at previous inspections of other properties that tenants tend to use half a garage as a storage area.

    I've spoken to 2 local agents in the area and they both suggested the 4 bedder option as the rental would be more.
    I'm thinking stick to the original 3/2/2 plan, I think a nicely layed out decent spec home would be more desirable to sell than a small 4 bedder single garage.
     
  7. RedMarty

    RedMarty Well-Known Member

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    Location:
    Australia
    I bought a 3/2/2 over a 4/2/1 for my first purchase and have watched over the years how these both rent and sell. Selling, 3/2/2 outdid the 4/2/1 and in rent the difference was negligible.
    The second garage space can always be used for other things besides a car such storage, gym etc.
     
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