Size matters: Land or dwelling?

Discussion in 'What to buy' started by KMG, 3rd Feb, 2019.

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  1. KMG

    KMG Member

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    To renters; what appears to be more important? The size of the block or the size of the dwelling?
     
  2. wylie

    wylie Moderator Staff Member

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    That is like asking "how long is a piece of string?"

    Different renters want different things. Dog owners might want a big yard, but that needs to be mown.

    We have large blocks that renters have not wanted due to the big mowing job, so we have paid for the mowing on those blocks rather than miss out on good tenants.

    Some tenants will want small blocks for less yard care. Some will want large blocks for children or pets.

    There is no "one size fits all" with this stuff.
     
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  3. KMG

    KMG Member

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    Fair point. I just wondered if anyone had experience (anecdotal, I know) with more leaning to one preference or the other. I suppose it IS a mixed bag of individual preference.
     
  4. thatbum

    thatbum Well-Known Member

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    Not just preference, but strategy as well - it depends what your plans are with that particular property.

    If it was as simple as one better than the other, then apartments would either be the best or the worst investment in most circumstances!
     
  5. jazzsidana

    jazzsidana Mortgage Brokers - Investment Savvy Business Member

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    I think more important question should be - What best fits in your portfolio depending upon your strategy/goal!..

    Cheers,
     
  6. The Y-man

    The Y-man Moderator Staff Member

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    I'm going to stick my neck out: a big house.
    While I see this more with PPOR buyers, I do note people are going for tiny yards and big house - maybe due to the fact families don't spend time outdoors any more - a home theatre is prob more attractive than open grass to kick a footy around.... plus you got to mow it and what not.

    The Y-man
     
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  7. Shogun

    Shogun Well-Known Member

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    I think lots of renters like the idea of a nice lawn and garden but don't appreciate how much work it is to keep looking nice.

    I have a unit with a small garden. A while ago I started going a couple of hours gardening once a fortnight ( I put in the contract I could do this). Since I have been doing this the tenant looks after the garden more. I think without my help it was too much for her to cope with. When looking for tenants quite a few commented that the rear garden looked a nice place to relax.

    A nice house with a small low maintenance garden. Yards full of brick paving don't look appealing and are perhaps harder to find tenants for.

    Location may well be a bigger factor than block size for renters
     
    Last edited: 3rd Feb, 2019
  8. Beelzebub

    Beelzebub Well-Known Member

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    Generally I'd say size and quality of the dwelling. That is to say, if you were tossing up between a 12x32 or a 14x32 block I can't imagine you would get any extra rent assuming the same house was built on both blocks.

    Lots of different scenarios however that would provide an exception to the general rule.
     
  9. PMC Property

    PMC Property Sydney, Brisbane, Newcastle, Toowoomba Business Member

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    I think it really depends on the demographic and even moreso probably the individual family. It’s a very difficult question answer as some families want a lot more internal space whereas if their kids are sports they might want a huge back yard to fit a trampoline and also be able to kick a footy around.

    Let’s just say lots of both ;)

    - Andrew