VIC - PPOR: What will give the best value in the long term?

Discussion in 'What to buy' started by Luca, 13th Dec, 2020.

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Which one would you go with?

  1. A

    0 vote(s)
    0.0%
  2. B

    6 vote(s)
    46.2%
  3. C

    7 vote(s)
    53.8%
  1. Luca

    Luca Well-Known Member

    Joined:
    28th Jan, 2016
    Posts:
    1,007
    Location:
    Melbourne
    Keen to hear different opinions.

    Sol A) Good suburb, family-oriented. The land is around 800m2. Typical 4x2x2 however it is a sloping lot. Very hard to extend, add value and subdivide due to zoning. Close to a good shopping centre and station (still need to have the car). Passed in at auction.

    Sol B) Very close to sol A however better location. Land around 900m2. Typical 3x2x2, still a sloping lot. Easy (but costly) to add value e.g. new layout, swimming pool and so on. Still cannot subdivide due to zoning. Close to a good shopping centre and station (still need to have the car). Passed in at auction.

    Sol C) Still a good suburb however a bit more industrial look and less green, let`s say a step down in terms demographic. Land still around 800m2. Typical 4x1x2. Super flat lot, can build 3 THs. Bigger house, a lot of storage and a good backyard. Needs a quick cosmetic reno, the other two are ready to move in. Going to Auction, however, I trust it will sell at a price similar to the other 2.

    Price: they are all similar.
     
  2. Omnidragon

    Omnidragon Well-Known Member

    Joined:
    17th Oct, 2015
    Posts:
    1,693
    Location:
    Victoria
    Huge block with development potential 20km within CBD
     
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  3. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
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    13,436
    Location:
    Melbourne
    C - coz I don't like slopes.

    The Y-man
     
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  4. 29349

    29349 Well-Known Member

    Joined:
    3rd Nov, 2020
    Posts:
    101
    Location:
    Vic
    C. Flat section. Can always plant greenery, vertical gardens etc with some clever horticulture design
     
  5. Robbo80

    Robbo80 Well-Known Member

    Joined:
    21st May, 2018
    Posts:
    586
    Location:
    Vic
    Are the school zones the same?

    Are A and B not easily subdividable due to slope or moreso council zoning?

    The reason why I ask is that all options can still do well. A property that is currently subdivible will be priced as such and even low density zoning can attract redevelopment potential in the form of a complete knock down and rebuild. Location and scarcity can be equally as important.

    If pure investment C sounds decent but if you will need to live there for a long time then you'd have to deal with potentially alot of construction, lower air quality and townie/renters next door with car lined streets. If it's a big shift down in demographics you'd probably need a garage to hide your Mercedes..
     
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  6. Luca

    Luca Well-Known Member

    Joined:
    28th Jan, 2016
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    Location:
    Melbourne
    Public Schools are slightly better in the expensive suburb, as it usually happens, however, private ones are similar. A/B are the typical green suburbs, mainly Australian born families, 50-60 average age group, with young families moving in. C is a mix of everything.

    C is not so bad, still a good suburb ;-)
     
  7. AxeLy

    AxeLy Well-Known Member

    Joined:
    23rd Nov, 2020
    Posts:
    396
    Location:
    Melbourne
    (C) seems like the best value in the long term. The potential to sub-divide and develop is appealing.
     
  8. Stoffo

    Stoffo Well-Known Member

    Joined:
    14th Jul, 2016
    Posts:
    5,301
    Location:
    In the Tweed
    Voted B, only because you are talking PPOR
    Sure C appears the best option, but most people looking to buy a PPOR don't have the funds to buy, hold and then develop in a reasonable time frame.....