Two storey house for investment

Discussion in 'What to buy' started by OzziMelbourne, 11th Dec, 2020.

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  1. OzziMelbourne

    OzziMelbourne Well-Known Member

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    I am considering an option of having a 2 storey as an IP. I have seen a thread about it but almost all messages in there were about the cost.
    I don’t care about the cost too much and I’m thinking about an investment potential in terms of losing tenants and what the percentage of such tenants might be.
    I read stories in the Internet saying that old tenants and some tenants with kids would avoid such houses. What is the magnitude of this problem?
    Are there any other serious negatives?
    Can anyone who does have a 2 storey IP can share their experiences please. Thanks
     
  2. datto

    datto Well-Known Member

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    I reckon there are heaps of 2 level IPs. Especially townhouses. I’ve seen a 3 level townhouse with a lady in her 70s living in it. She loved it because of the exercise going up and down the stairs.

    Sure there are people who won’t like it because of the stairs and the hassle of dragging furniture up and down. But if they are watertight why not go for the extra space of 2 levels.

    One thing I should mention is I hate those spiral stair cases. Imagine coming home sloshed at night and having to spin up one of those things.
     
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  3. OzziMelbourne

    OzziMelbourne Well-Known Member

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    Yes, a colleague of mine rents a townhouse but he died by have kids. So, for two of them a townhouse is ok but two generally wouldn’t rent a two storey house.
    I guess, I am just thinking how many tenants with kids I’m gonna potentially lose if I offer a two storey building. Also, probably because of the cost of this building, rent might be a little bit higher compared to one storey buildings in the same area with the same number of bedrooms.
     
  4. The Y-man

    The Y-man Moderator Staff Member

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    Right...... o_O .... (note to self: avoid fatherhood. Dangerous to health)

    The Y-man
     
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  5. Stoffo

    Stoffo Well-Known Member

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    Along with marriage, driving, crossing the road...........
     
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  6. Trainee

    Trainee Well-Known Member

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    Dont understand the logic at all. There is no problem with kids and two storey houses. Most families with kids buy two storey houses because of more space. So theres no reason to think they wont rent them.
     
  7. OzziMelbourne

    OzziMelbourne Well-Known Member

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    Bloody phones can write their own text nowadays

    should be “didn’t have kids” :)
     
  8. OzziMelbourne

    OzziMelbourne Well-Known Member

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    In my view too but, I guess, I just wanted to have some experience shared by people who do have two storey houses as IPs. Do they feel shortage of applications? Agents feedback? etc
    I have several IPs and trey are all one storey, hence my question at the top.
     
  9. Scott No Mates

    Scott No Mates Well-Known Member

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    I've managed several 2 storey IPs with 4-6 bedrooms. No issues generally, families want a family home so will stay long term (apart from the additional removalist costs).
     
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  10. MB18

    MB18 Well-Known Member

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    Dont have a two story IP but I grew up in a three story house and I didnt die.

    Other than a minute part of the elderly or disabled population I've never heard anyone shy away from a rental property because it had stairs.
    If anything it is quieter and more liveable with the sleeping quarters isolated from the rest of the house.
     
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