NSW Thoughts on this property

Discussion in 'Property Analysis' started by Simonking, 20th Sep, 2019.

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  1. Simonking

    Simonking Member

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    Hey guys. Can you please share your opinion on this property?

    Me and my wife are first home buyers and have found a property that satisfies most of our requirements. It is near Campbelltown CBD and walking or 5-10 min driving distance to all amenities.

    Only issue is that the property is sandwiched between other properties. But surprisingly natural light inside is not an issue.

    What are some negatives or future potential issues of this sandwiched property?

    Anything we should look out for?

    I can share additional details or images if needed.

    Thank you and any advice is greatly appreciated.
     
    Last edited by a moderator: 26th Sep, 2019
  2. Trainee

    Trainee Well-Known Member

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    Having trouble understanding what these actually are. Are these townhouses with common walls? Body corp or no?
     
  3. Simonking

    Simonking Member

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    There are called terraces and under torrens title. So no strata or body corp.

    Common wall is with the garages only. So on my left my garage has a shared wall with another property. On my right I share a common wall with my neighbour's garage.

    I forgot to mention, according to the contract and my conveyancer I will be liable for land tax on this property. Is this a major issue?
     
  4. Morgs

    Morgs Well-Known Member Business Member

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    In my opinion.... looks relatively modern and it is probably a nice place to live? However may have limited upside in terms of the opportunity to add value... and depending on exactly where and the zoning you may find that there is more & more of this sort of property built.

    My personal style of investing is that I'd rather own a run down house on a bigger block of land which may have either opportunity to add value or development opportunity in future.
     
  5. Trainee

    Trainee Well-Known Member

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    Theres nothing inherently wrong with the property especially if its ppor and you want new. But there are properties that will probably grow more in the long term.
     
  6. Simonking

    Simonking Member

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    The property is 4 years old. Area is a decent place to live.

    Understandable. We are not going to go into development side of things. This property is going to be ppor for us for a long time. We may rent it out in the far future and buy something else.

    like a free standing house on a larger block?
     
  7. Trainee

    Trainee Well-Known Member

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    Yes but for a similar price it would be older and less convenient. Thats your choice. Even if you dont develop, if it has that potential a buyer will pay more. This property is pretty much in its fully developed state.

    But if thats what you want for a ppor, nothing wrong with that.