Which one would you pick?

Hello people,

Which out of below house would you pick and why? Both were sold for the same price of 1.2m and are located close to each other. A bit of a learning exercise and also interested in how people analyse properties.

https://www.realestate.com.au/property/64-strathnaver-ave-strathmore-vic-3041

https://www.realestate.com.au/property/57-strathnaver-ave-strathmore-vic-3041

Cheers,
Val

 

#64 - nicer facade and single level, good indoor/outdoor flow. Potential to remodel and convert the lounge to a decent sized 4th bedroom with ensuite too.

 

And it has flat land while the other has a bit of slope.

 

And it’s outdoor area on the north side, plus a swimming pool. Interior also looks nicer

 

#64 is scoring more goals then!
So do things like double garage , 2nd bathroom and en-suite of #57 have minimal affect? Or does better outdoor aspects plus pool of #64 negate them all?

Cheers,
Val

 

#57

• First of all, it is located on the high side of the road
• This is a corner block and is better for future developments
• an additional bathroom
• Double garage (#64 does not have a garage)

 

Those things on their own are positive factors. But this illustrates that property is very diverse and even choosing two houses sold at the same time on the same street doesn't mean they are directly comparable. IMHO #57 is really ugly which can't easily be changed, whereas additional bathrooms or rooms can easily be added to #64.

 

Agree with property being diverse. Yeah #57 doesn't have a great facade but just like #64 can be modified to add bathroom, garage etc you could spend some money "beautifying" #57 facade!

 

Most important question is whether it’s a PPOR or investment? I don’t like pools in investment properties generally.
Unfamiliar with location so from a house perspective only.

64- Aesthetically more appealing, nice outdoor area and pool, not sure if this is a plus in Melbourne? Might only be used 3-4 months of the year? Only 1 bathroom, no under cover parking

57 - Not cosmetically as attractive, could be rendered to look like 64 though. Double lockup garage, 2 bathrooms

Kitchens both a it pokey for a ppor IMO.

Both need additions or renovations to be a ppor, for an ip I would go number 57.

 

Those are the good aspects for an IP / knock down rebuild
For a PPR, the rear outlook does look good. However the block is sloping down, which will make passing drainage an issue if you were to knock down rebuild.

 

When you say "The rear outlook does look good" are you referring to #64?

 

I reckon, unless the pool is heated you will not even get 3-4 months of usage in Melbourne . And the description of #64 doesn't mention the pool being heated so some work to be done there.

 

Yes. Sorry, forgot to make that clear.