Opinions on IP with odd shaped land.

RealesateEveryday · 13th Jun, 2018

sidharth said: ↑

I'd avoid it. Its a lot of hassle to get council approvals. Sometimes even bank valuations come low and financing and CG will get harder in that case and defeat your goals. @john@bridgetobricks is very right in his observations.

Do you know if there are easements on the lot, what kind of density is permitted, any noticeable fall on the lot?

A friend of mine purchased a lot with a bad fall (bad research work)...2.7 m and no builder would touch it, except for custom builders who were asking for $600,000 to build a 30 squares house. That's the extreme case but there was also a standard corner block we tried to get a house built on and there too had few issues with getting approvals from council...builder had to do custom plan and that increased the price...Bank valuations came low due to a nearby transformer line...and so on...

So, really hosts of issues in the game. Best is stick to stock standard and you can do much better, unless there are really good reasons for this buy.
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Thanks for your detailed advice. I might just avoid odd shape land and stick to rectangular to save the hassle like you said

RealesateEveryday · 13th Jun, 2018

John@bridgetobricks said: ↑

Hi Realestate Everyday,

Thanks for reaching out to the forum. Lots of good minds in this chat room.

If you have any aspiration at all to develop, my suggestion would be to not purchase a property with a triangle shaped piece of land. It does and will affect your ability to get the most out of its potential.

Property is expensive, and you only get a few shots at a develop-able parcel of land. This property will make your life more difficult, and it is just not worth the acrobatics of trying to get this to work for development when that time comes.

Keep it simple, buy on a rectangular block if possible.

Hope this helps,
John
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Thanks for your advice. I shall stick to rectangular for simplicity

dabbler · 15th Jun, 2018

Your not ready to buy anything with a view to develop anywhere.....

I would be less concerned with shapes and blocks and houses and more concerned with the codes and practices and people who know what can be done in area x,y or z.

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Opinions on IP with odd shaped land.

RealesateEveryday Member

RealesateEveryday Member

dabbler Well-Known Member

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Opinions on IP with odd shaped land.

RealesateEveryday Member

RealesateEveryday Member

dabbler Well-Known Member

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