VIC Property bought by BA

Hi all. The below property was recently bought by reputable a BA Agency in Melbourne. I have mixed feelings on this purchase so please help me understand.

I like the area and I like the street.

I don't like that it has no car parking and I don't like the floor plan! It looks like they've removed the plan from the advert however it's a slim build, 2 bedrooms at the front, kitchen and living room that open up to the yard at the back (great). The bathroom was however at the rear behind the living room.

Does an isolated bathroom turn you off as much as me? How do you view not having a car park in this area?

135 Kent St Flemington.

https://www.google.com/url?sa=t&sou...Vaw1H6cep89fI-rJvAOht8l-R&cshid=1579761975295

I think it sold for circa 780k. The sale price has also been removed.

 

I'm not a huge fan of BAs, but if the price you quoted and the Domain estimate are correct, then I'll have to seriously reconsider my opinions, given that there's a $165k difference between them!

 

I presume a carpark is less necessary when they're that close to the station and street parking is ample (I havnt google earthed this yet) . I remain cagey and I still think it would be odd to walk from a bathroom post shower through a living room to a bedroom.

?

 

This type of house and layout is very typical of the area. Assuming you've purchased an an IP, then you're tenants are likely to expect this layout for the era/style of house.

As Y-man said, being inner city, a car park is not always expected by tenants as there are public transport options close by or they park on the street.

If a PPoR, the property does look like there is scope for a reno to potentially move around the internal rooms to suit the layout you want.

Rolf is asking what the brief was that you gave the buyer's agent to work with. Did you specify you must have parking? Did you not see a floor plan or have the room layout explained to you by the BA? Did you not express your concerns about an isolated bathroom not being ideal for you?

It seems odd that they'd go ahead and buy you a property if it was totally off the brief of what you had instructed them to find for you. After all, they should be following your instructions and if the house was not a fit, you say so and move on to the next one.

Provided you bought well (price wise) and a building and pest inspection raised no major red flags, you'd expect this type of property to be a nice, solid investment that would consistently rent well and appreciate nicely over time.

 

That's correct Simon. I did not purchase this property but know it was bought by a 3rd party using the service of a Buyers Agency.