Would you consider this a house or a unit or villa

Discussion in 'What to buy' started by couq, 21st Apr, 2017.

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  1. couq

    couq Well-Known Member

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    I am looking at a house in inner Melbourne

    It is on 260 sqm and has its own land, boundaries and no strata.

    It has 3 bedroom, 1 bathroom and garage.

    Would you consider this a house on a small block or a unit or villa?

    Would you think the long term growth prospects would differ to a house?
     
    couq, 21st Apr, 2017
    #1
  2. Big Will

    Big Will Well-Known Member

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    Townhouse
     
    Big Will, 21st Apr, 2017
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  3. Marg4000

    Marg4000 Well-Known Member

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    If it is on its own land and detached, I would consider it a house on a small block.
    Marg
     
    Marg4000, 21st Apr, 2017
    #3
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  4. The Y-man

    The Y-man Moderator Staff Member

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    House. The growth will not be as good as a 300+sqm, but better than an apartment/unit/townhouse because you can still extend/reno to your hearts content - you can't with the other types.

    The Y-man
     
    The Y-man, 21st Apr, 2017
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  5. The Y-man

    The Y-man Moderator Staff Member

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    *note - I will make a distinction here between "townhouse" meaning there is an owners corp involved vs "terrace" where there isn't one. Terrace I still call a "house".... even though it is not standalone for reasons above :confused::oops:

    The Y-man
     
    The Y-man, 21st Apr, 2017
    #5
  6. The Y-man

    The Y-man Moderator Staff Member

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    The Y-man, 21st Apr, 2017
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  7. Anthony Brew

    Anthony Brew Well-Known Member

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    Isn't something a townhouse when it is attached to another house?
     
    Anthony Brew, 22nd Apr, 2017
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  8. Big Will

    Big Will Well-Known Member

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    Semi-detached that could be
     
    Big Will, 22nd Apr, 2017
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  9. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Look at the land/building ratio as land increases in value and buildings depreciate so typically (but not always) a free standing house on its on piece of land would be the go.

    Some older style boutique apartments are sitting on large pieces of valuable land and often the land/building ratio is high. The opposite is true for apartment towers.
     
    Colin Rice, 22nd Apr, 2017
    #9
  10. Skyegirl

    Skyegirl Well-Known Member

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    Freestanding townhouse.
     
    Skyegirl, 28th Apr, 2017
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  11. dabbler

    dabbler Well-Known Member

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    If it is on own block, free standing and not attached to anything, then it is a house.

    If there is a bunch of the same dwellings, same style, or same builder on one block, it is a town house.
     
    dabbler, 28th Apr, 2017
    #11
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  12. Ross Forrester

    Ross Forrester Well-Known Member

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    It is a house.

    Not sure if it matters. You could call it a windsurfer and the financial outcome will be the same (but don't try and sell it as a windsurfer - that will confuse people).
     
    Ross Forrester, 28th Apr, 2017
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  13. The Y-man

    The Y-man Moderator Staff Member

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    What does matter I find is whatever the selling agent calls it - and the box they tick on RE.com - as this can mean the property doesn't come up on some searches.

    (Alternatively, your search gets cluttered with stuff you are not interested in)

    The Y-man
     
    The Y-man, 28th Apr, 2017
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  14. Scott No Mates

    Scott No Mates Well-Known Member

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    @couq - it comes down to the strategy you're following. Rent will grow in line with the market for comparable houses/town houses/villas.

    Land tax will grow at the same rate as freehold comparable land.

    Rates will grow at the pegged rate.

    I'll take a house in Melbourne, a unit in the Monaco and a villa in St Tropez :p
     
    Scott No Mates, 28th Apr, 2017
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  15. evalord

    evalord Well-Known Member

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    Sounds like a typical (small) house in Milton / West End / Highgate Hill QLD. Brisbane City Council's small lot code let's you build up to 70% house to land ratio for under 300m2 blocks.
     
    evalord, 28th Apr, 2017
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  16. dabbler

    dabbler Well-Known Member

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    Yes, what you call it I think matters too.

    I was banging heads with someone recently who insists a semi is a unit, if you advertise as unit it would lose value rent wise and sale wise.

    How places are advertised and presented can matter, if really hot market, probably not so much so, but you still want to appeal to the correct audience in the first place.
     
    dabbler, 28th Apr, 2017
    #16
  17. Wendy Chamberlain

    Wendy Chamberlain Well-Known Member

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    Definitely a house.
     
    Wendy Chamberlain, 1st May, 2017
    #17