Join Australia's most dynamic and respected property investment community

What would put you off buying a property?

Discussion in 'General Property Chat' started by Adele, 31st Dec, 2015.

?

What is a deterrent when you buy a property?

Poll closed 7th Jan, 2016.
  1. Feng Shui (I just had to put this in lol)

    10.8%
  2. Irregular shaped land

    10.8%
  3. Battle Axe

    13.5%
  4. Noise Level

    37.8%
  5. Tenant demographics

    27.0%
  1. Adele

    Adele Well-Known Member

    Joined:
    11th Dec, 2015
    Posts:
    189
    Location:
    Melbourne
    Hi Everyone,

    I'm curious to see what are other people's general preferences/dislikes when buying a property? I generally would think that an irregularly shaped land will be the hardest sell, but I may be wrong. In any case, I would like to hear everyone's thoughts on this.

    Have a happy New Years everyone :D
     
  2. Kinnon Bell

    Kinnon Bell Finance Broker

    Joined:
    14th Jun, 2015
    Posts:
    474
    Location:
    Cairns
    PPOR or IP?

    I have different criteria for each.
     
    D.T. likes this.
  3. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,515
    Location:
    Sydney
    Not a poll option, but price is right up there.
    Too many others to list as well.
     
    Taku Ekanayake and Leo2413 like this.
  4. Adele

    Adele Well-Known Member

    Joined:
    11th Dec, 2015
    Posts:
    189
    Location:
    Melbourne
  5. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,515
    Location:
    Sydney
    For a PPOP all those poll options would be deterrents if they are less than optimal.
     
    Adele likes this.
  6. Adele

    Adele Well-Known Member

    Joined:
    11th Dec, 2015
    Posts:
    189
    Location:
    Melbourne
    Yes they are all deterrents for me (except feng shui) but my no.1 put off is if it's an irregular shape. Was having this discussion with my sister, and I just wanted to see if I was wrong. I put battle-axe up there too as I noticed these were the last to sell in OTP units.

    I think property is a very big (and emotional) purchase. I would definitely like to know people's thoughts.
     
  7. WattleIdo

    WattleIdo renovating Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,811
    Location:
    Central West NSW
    Noise is the first thing I check out. I think it can affect people. E.g. if near a roundabout or right where cars speed up or trucks slow down. Regular traffic can be ok as long as there's not too much of it. I once lived on a busyish street and didn't mind it too much at all.
    An irregular block would be the next one on the list. Depending on just how irregular. Some irregular shapes just need a little imagination. Others are off-putting.
     
    Adele likes this.
  8. monalisa

    monalisa Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    314
    Location:
    Sydney
    I wouldn't buy any of the following - esp for PPOR.
    1. Irregular shaped land
    2. Battle Axe
    3. Noise Level
    If the one in the noise corridor is a development site - then it may be acceptable.
     
    Adele likes this.
  9. twistedstats

    twistedstats Well-Known Member

    Joined:
    5th Jul, 2015
    Posts:
    80
    Location:
    Sydney
    I'm rather picky when it comes to a PPOR because where and under what roof I live in is probably the most important lifestyle choice. As others have said, everything matters although for me, irregular shaped land is probably the least deterrant (depends how "irregular").

    I consider certain feng shui aspects to be important, particularly T-intersections. Other internal feng shui things are less important as they may be changed with a cost.

    I also consider these for an IP as less deterrants = easier to sell and easier to rent.
     
    Adele likes this.
  10. Adele

    Adele Well-Known Member

    Joined:
    11th Dec, 2015
    Posts:
    189
    Location:
    Melbourne
    T-intersections are sometimes considered good luck in feng shui for business owners or people whose work is related to sales.:)
     
  11. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,545
    Location:
    Sydney or NSW or Australia
    Certain elements of noise I can accept eg. Car traffic or rail but not major road or constant low height aircraft noise.

    Irregular block shape has less of an effect on residential than commercial sites which need to be regular to maximise site utilisation.

    Feng shui least important aspect however it must 'feel right'.

    Smells - I would avoid anything near restaurants eg Maccas, KFC, Subway etc.
     
    Adele likes this.
  12. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,894
    Location:
    Sydney
    I'll add... stamp duty and a lack of ability to buy forever! So irregular land and noise are both big deterrents, i'd cross them off the list. (Noise ok for an IP as long as the potential gain on the property is very large... I found a property I could add a bedroom to, it was also very underpriced... I made an offer on it... its been great) :)

    Battleaxe yes also a deterrent if I want to develop down the track. Id give it a miss unless there was some other highly redeeming factor to it.

    Tenant demographics yes that too if it doesn't have scope to gentrify within next 5-10 years.

    Feng shui... don't care as long as the property is not prone to having cars drive into my place accidently and no additional difficulties in getting in and out of my driveway. No facing cemeteries or industrial either.
    :)
     
    Adele likes this.
  13. Graeme

    Graeme Well-Known Member

    Joined:
    26th Jul, 2015
    Posts:
    258
    Location:
    Melbourne
    Nothing wrong with backing onto a cemetery. At least the neighbours will be quiet. :p

    [​IMG]

    Noise would be the big one for me. I'm currently living next to a railway line, and the building isn't adequately soundproofed for my liking.

    An irregular block wouldn't bother me. Sometimes interesting designs come about because of site constraints, and given my tastes tend towards the quirky...

    What would be a deterrent would be a lack of easily accessible (i.e. within a short walk) public transport. Granted, I've been spoiled by living in Europe, but being able to catch a train or tram into the CBD in no more than 30 or 40 minutes, and without changing, is a big attraction.
     
  14. LifesGood

    LifesGood Home Building & Development Consultant Business Member

    Joined:
    26th Jun, 2015
    Posts:
    643
    Location:
    Perth WA
    Backing on to a cemetary can be quite a good location, they are the dead centre of town in most cases.
     
    Iamnumber5, MTR and Adele like this.
  15. TheGreenLeaf

    TheGreenLeaf Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    46
    Location:
    Here and there
    For me, Noise Level is a real show stopper, for both PPOR and IP.
    I might just be too sensitive to it myself. I believe tenants would also not stay for more than 1 year in the property if it's a permanent issue and was not spotted during inspection, so it would impact the return if the turnover is high.
     
    MTR, Adele and Gockie like this.
  16. Adele

    Adele Well-Known Member

    Joined:
    11th Dec, 2015
    Posts:
    189
    Location:
    Melbourne
    Saw something which was L-shaped ( the backyard is behind other units.)
    I imagine that there won't be much privacy, especially with a small backyard.
    Would something like this affect the valuation on a property?
    Or perhaps be more expensive to insure? (Safety concerns?)
     
  17. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,894
    Location:
    Sydney
    Probably yes an impact on privacy if other people can overlook but no difference from an insurance standpoint.
     
  18. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,894
    Location:
    Sydney
    Agree. Constant noise = higher tenant turnover. Unless you have very tolerant tenants.
     
    TheGreenLeaf likes this.
  19. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,334
    Location:
    Perth, Melbourne, USA
    I don't know about the cemetery?? I think it would give me the creeps, you never know what's hanging around, or about to come out
     
    Iamnumber5 likes this.
  20. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,334
    Location:
    Perth, Melbourne, USA
    I think secondary locations could be as much as 15% discount, I guess as long as you pick it up for the right price then it may not be an issue. At the end of the day though it will possibly be more of a challenge to sell
     
    TheGreenLeaf likes this.