2 Houses Same Street... Diff Block Size??

[Ryano]

Hi Guys..

I am close to buying a IP in Brisbane.. I have a choice of 2 houses in the same street.. 1 is on a small block 400ish.. the other on a 651 block...

THe house on the big block looks better, is cleaner, tidier and has been better maintained etc... even though both houses are essentially the same type.. Both brick and tile with a similar layout..

House on small block is going for 230K... house on big block for 237K

Does a bigger block size really give you any benefit... the weekly rent return will probably be the same from both..

Cheers

Ryano

 

[Twitch]

Only $7k for ~200m2 of extra land is a no brainner, buy the bigger block (assuming all else equal).

A big block does not really give you more rent return, but will give more capital growth.

 

[Ryano]

Thanks mdk92... I did think the bigger block too but after hours, days, weeks, and months browsing websites, doiong viewings, haggling and the like you kind of get a brain freeze

Ryano

 

[dave99]

Thanks mdk92... I did think the bigger block too but after hours, days, weeks, and months browsing websites, doiong viewings, haggling and the like you kind of get a brain freeze

Ryano

A larger block gives more scope for subdivision down the track.... If subdivision is possible, = more demand, more capital growth.

- Dave

 

[karina]

you absolutly must go for the bigger block!!

 

[superb]

If I was looking to buy in that area, and saw both houses for sale, I would definitely go for the bigger block, moreso if there was subdivision potential.

 

[Chris.R_WA]

Hi Guys..

I am close to buying a IP in Brisbane.. I have a choice of 2 houses in the same street.. 1 is on a small block 400ish.. the other on a 651 block...

House on small block is going for 230K... house on big block for 237K

You can get a house on 650sqm for 237K??

Might have to start looking interstate...

Good luck with it, Chris

 

[Pushka]

Bigger block no brainer really!

 

[Merovingian]

Hmm, $7,000 for an extra 251 sqms. Sounds like a bargain! (All things equal).

 

[skater]

It's unanimous! Go for the bigger block!

 

[lizzie]

and you said it was a better house ... what's there to ask.

don't worry - we all understand that the brain ends up in overload when house hunting and can't see the figures for the fibro.

 

[Ryano]

Hi Guys... went for the bigger block.. Neg started at 250K... deal finalised this am for 237,250K... rental poptential 260 per week... Pretty happy all round...

 

[sailor]

Well done Ryano!
Good choice and good negotiation.

cheers
Sharon

 

[DJB]

Hi

Why not buy them both??

Dave

 

[Ryano]

Did think about that... but I would prefer to spread the investments over a wider area to spread the risk.. the logic being that if one area has a bad time then hopefully the other areas will not.. hopefully... Ryano

 

[alexlee]

They're not next to each other, are they?

 

[TheCamel]

They're not next to each other, are they?

buy both