Which one?

Discussion in 'What to buy' started by M & C, 6th Jun, 2021.

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  1. M & C

    M & C Well-Known Member

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    Currently have 2 properties I like and can't make up my mind to place an offer.

    One property has city views, but the house is rundown and needs a bit of a makeover.

    The other one is a dual living house and near a train station and closer to amenities.

    Both are zone CR2 and around block size 500sqm. So potential to develop something at the back.

    What would you choose?

    Thank you
     
  2. Mulianto

    Mulianto ~~

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    What’s your strategy? Develop and utilize the city view? Development comes with risks but higher rewards though. Make sure your numbers stack up with buffers.

    The second one is better suited for reno, buy and hold long term. Close to train station and amenities are good rentals
     
    Last edited: 6th Jun, 2021
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  3. Sackie

    Sackie Well-Known Member

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    All other things being equal,


    The city views home. IF the buy in price represents value.
     
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  4. Tillie

    Tillie Well-Known Member

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    I am with Sackie... the city views is they can not be build out by a neighbor. The rarity value.
     
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  5. Gockie

    Gockie Life is good ☺️ Premium Member

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    +1
     
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  6. The Y-man

    The Y-man Moderator Staff Member

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    Will it depend on which city, or will any city do? :)

    [​IMG]

    The Y-man
     
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  7. Sackie

    Sackie Well-Known Member

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    Well I assumed we're talking Australian major cities...:)
     
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  8. M & C

    M & C Well-Known Member

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    Thanks for the responses. Yes, it's for long term hold. Any development of the property will be in the future. I'm starting to lean in favour for the one with city views.

    Which city is that Y-Man? I've been to Manila Philippines and it looks similar to those shacks.
     
  9. The Y-man

    The Y-man Moderator Staff Member

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    Well picked! I just randomly chose a photo from the internet - it is the Philippines.

    The Y-man
     
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  10. Stoffo

    Stoffo Well-Known Member

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    Reach for more :D
    Buy both :cool:
    Offer options of a long V's short settlement on each, so you buy one quickly under market and use some equity 3-6 months later to settle the second.
    Sure you might have to go without, sell a car or "risk it" for a while, but long term you will reap the rewards ;)
     
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  11. M & C

    M & C Well-Known Member

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    Unfortunately, I didn't get either as my highest offer I could do wasn't enough 1.25m. I was still able to get something inside 5km from CBD for just under 1m in the end. 600sqm block within walking distance >1km to amenities and needs a reno.

    Try again for another property later in the year. When funds and equity are replenish. :)
     
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