NSW Would you buy a Unit with construction next to it ?

Discussion in 'Where to Buy' started by Sigemup, 12th May, 2019.

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  1. Sigemup

    Sigemup Well-Known Member

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    Hi guys,

    Would you buy a unit where a construction of a high rise is happening right next to it (balcony opens to construction area)

    Thank you
     
    Sigemup, 12th May, 2019
    #1
  2. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    No.

    If a high rise is going up next door how will it impact the value of your unit?
     
    Property Twins, 12th May, 2019
    #2
    wylie and Scott No Mates like this.
  3. wylie

    wylie Moderator Staff Member

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    I would buy if the finished product will suit you. In other words, the construction (dust and noise) itself would not stop me buying something because construction will finish before too long.

    But if the unit you buy will end up overshadowed, or overlooked by the new high rise, and you wouldn't buy it if it was already built, then that would be an easy "no".

    Plus, as mentioned above, you need to research what the new high rise will do to the valuation of the place you are looking at.
     
    wylie, 12th May, 2019
    #3
  4. Ted Varrick

    Ted Varrick Well-Known Member

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    What kind of unit, where is it, and how much is it?
     
    Ted Varrick, 15th May, 2019
    #4
  5. Ross36

    Ross36 Well-Known Member

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    ^Agree with this, and add that if you are 99.9% confident it won't have a negative impact on your yield you can use it as leverage to get a much better price. My guess would be the current owners are worried by the construction so if you emphasise that you could get a much better price. Do your due dilligence though.
     
    Ross36, 16th May, 2019
    #5
  6. diagnostic

    diagnostic Well-Known Member

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    Depends on area, is the area in high demand? Will there be potential in the future for a developer to buy your site/unit to redevelop?
     
    diagnostic, 16th May, 2019
    #6
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