Pros & cons inner city

Discussion in 'What to buy' started by M & C, 8th Sep, 2020.

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  1. M & C

    M & C Well-Known Member

    Joined:
    28th Jun, 2020
    Posts:
    54
    Location:
    Caboolture
    Hi community,

    currently have a dilemma. There is a property that is in reach of budget in the inner city but it has some cons that I don’t like.

    the most concerning one it’s on the main road.

    definitely needs some renovations to be made. Before renting out

    the block is only 400sm.

    pros

    Inner city

    4-2-2 house configuration

    close to ammenities and public transport.

    potential usable equity straight away

    What would you do?

    Thanks
     
    M & C, 8th Sep, 2020
    #1
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,248
    Location:
    Sydney or NSW or Australia
    • It will always be $X or X% cheaper than comparable properties nearby (both rent & sales)
    • It will rise & fall at the same rate as properties nearby
    • It will always put off a small number of tenants or buyers who don't want a main road location
    • It will take longer to lease/sell
    • You can always improve the sound insulation to reduce internal noise levels
     
    Scott No Mates, 8th Sep, 2020
    #2
    M & C and balwoges like this.
  3. ACH123

    ACH123 Active Member

    Joined:
    7th Jun, 2019
    Posts:
    34
    Location:
    Gosford
    If it was an inner city location in Sydney. Couple of things I will assess:
    • Is the area very walkable? If it's in walking distance to everything, that is a huge tick for me.
    • What type of main road is it? If it's one way each direction with parking on each side. Don't worry. The types of main road I would avoid are main arterial roads where freight needs to go on (ie. Parramatta Road).
    • Is it in walking distance to universities, main employment centres or a shopping centre?
    • If so, buy and get that cashflow.
     
    ACH123, 17th Sep, 2020
    #3
    M & C likes this.
  4. jaybean

    jaybean Well-Known Member

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    20th Jun, 2015
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    4,752
    Location:
    Here!
    In most cities:
    • Inner city: smaller blocks
    • Outer suburbs: bigger blocks

    In Sydney:
    • Inner city: smaller blocks
    • Outer suburbs: smaller blocks
     
    jaybean, 17th Sep, 2020
    #4
    M & C likes this.
  5. willair

    willair Well-Known Member Premium Member

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    Location:
    ....UKI nth nsw ....
    Just ask yourself one question,would you live in the property yourself as it never pays to overthink as you will never do anything..imho..
     
    willair, 18th Sep, 2020
    #5
    M & C likes this.
  6. M & C

    M & C Well-Known Member

    Joined:
    28th Jun, 2020
    Posts:
    54
    Location:
    Caboolture
    Thanks everyone for the advice. Decided not to pursue it.
     
    M & C, 27th Sep, 2020
    #6