What would put you off buying a property?

Irregular blocks can be excellent especially if they have development potential, I know Westminster picked up a gem due to irregular shape block, I did the same with recent purchase. Perhaps what some think is a lemon can actually be turned into lemonade

 

Agree. There are houses that will sell in any market and there are houses that will only sell in a strong market.
My sister bought her place in a slow market and bought an ideal home for a reasonable price. Very wide flat land, beautiful big home on over 900sqm metres of land...
But she had time to reject 80 or so other homes. She'll have no trouble selling it at any time.

I just bought mine because it had the special appeal... if it didn't, I would not have bought it. If I sell mine in a strong market I can imagine multiple buyers prepared to pay top dollar for it because of the rarity factor.

 

I think with the improvements and attributes of the property ie development potential, period features etc you will do very well while also achieving an income. Nice

 

I must be shallow, if I dont like the look of it, then its a turnoff for me - definitely no pool, if the shopping centre [for groceries/milk etc] is a major one e.g. Charlestown, there will be parking issues, that's a no no. I llive in a regional area and since leaving Sydney have become accustomed to smaller shopping centres with easier parking.

 

I bought a triangle dev block that split into 2 unusual shapes. It's fine though b/c it's in the hills where people expect slightly quirky, and the land is still very useable. Plus both blocks are large - around 1000sqm each. It was fun designing the new build to use the land effectively.

 

Rarity factor: very important aspect for some buyers, especially for the ones looking for a PPOR

 

I'm very fussy. Flood-proof is a no-brainer. Property has to have good breezes, be sunny in Winter and preferably on the eastern side of a hill - no afternoon sun in Summer and no wind in Winter. Not backing onto shops or a school (been there, done that in the past). Not on a main road. Not a battle axe but unusual shapes are fine. And definitely no neighbours overlooking my back yard.

I scored the mother load of great location with this home site, so much so that it took at least 25 years to finally get past the "I'll never leave" syndrome. We back onto a well-cared for park too.

 

Hi Angel... agree with all the above... but don't you mean East side?

 

Yes! Thanks for that. Just edited it.

 

A cemetery close by. I love my horror films and it would hit too close to home having a cemetery around.................unless of course the price is right.. then i'll make room for the ghosts!

 

I have just bought a house [exchanged just before Xmas] after looking for 5 months. House had to be at least 3/4 bedrooms, 2 separate living rooms, 2/3 bathrooms.

Cant believe my luck, house is a 5 minute walk to Lake Macquarie and Warners Bay shopping centre, comes with a separate downstairs huge rumpus with its own kitchenette and bathroom, separate front door etc. house is 2 storey, with a view of the lake. Got it for less than they were first offered, would be purchasers couldn't raise finance, and the vendor wanted a sale quickly to they could get into a retirement village. Only time I was able to pay cash for a property, due to settle late February.

 

congrats @balwoges !!

 

Whoo hoo!
Just like mine but a little bit different. Congrats!!

 

Incidentally, if anyone is curious about the house in Highgate Cemetery, here's an article from the Guardian about it. The sales particulars are also available.

I think that it sold for about £5 or £6 million. Obviously someone wasn't put off by the neighbours.

 

I like irregular shapes, usually the price is cheaper as there is no competition

My last block has 5 sides, no right angles, no equal sides. Still managed to put a free standing granny flat with its own street frontage.

 

Hi @neK ,

So, yes for irregular....but for short term-hold? I'd love to be able to develop an irregular shape, but I'm afraid I'm not very creative.

 

Would most tenants stay only on average 2-3 years under normal circumstances anyway? Let's say the tenant did miss something in inspection. I guess if you have them leave after 12 month that is double or more the turn over rate.

 

Some stay for 10 years or longer.....

 

What about easements? Along the side or rear of the property.

Does this affect a valuation at all?

 

I don't get the hate for battleaxe? I've lived in a couple and they were great, much better than street frontage from a noise and parking perspective. About the only negative I can think of is you have to walk further to take the bins out?

For me a high maintenance garden is probably the biggest single turn off for a PPOR, a garden in general is right up there but high maintenance is a big game changer (not exactly cheap to get rid of them).

Of the ones listed tenant demographics are absolutely the biggest factor for me. I've lived near noise (train station and trucks in separate houses), you quite simply get used to it and don't even notice it and these days if you're building it's a total non-factor as you just build it out. Land shape is only really an issue if you're building again, barring an extreme shape it's not a big issue either and actually allows you to build something other than a box. Feng Shui for me is about as big a factor as the neighbours middle name, ie. beyond zero.