820sqm, awkward land size?

[htopg]

Hi

It looks like that 820sqm is an awkward land size in a 450sqm-minimum zones.
1. It is not big enough to subdivide.
2. You pay premium of around $30k-50k to get it compared to standard 560sqm

If two properties are of similar location, which one will you choose and why?
A 3-bedroom fibro on 560sqm for $450000, renting for 400/week
A 2-bedroom fibro on 820sqm for $500000, renting for 300/week

The only benefit I can see is that to-be-built grannyflat at the back will have bigger backyard on the 2-bedroom fibro on 820sqm.

Thanks in advance

 

[RetireRich101]

$100 more for 1 additional room? I would spend $30k on extra room if that is the case

 

[neK]

Comes down to the placement of the existing house on the 820 sqm block.

I wouldnt bother with an 820sqm block if it was positioned in the middle of the block, making it next to impossible to build a granny flat at the front.

 

[strongy1986]

You might be able to build 3 or 4 townhouses on the 820 block in the future
Just depends how popular the area is?
Maybe add a room to the 2 bedder if possible

 

[strongy1986]

Also is your 820 block common for the suburb?
You might find in the future that they reduce the min size to 400sqm
Cater for the increase population demand.

 

[brazen]

Comes down to the placement of the existing house on the 820 sqm block.

I wouldnt bother with an 820sqm block if it was positioned in the middle of the block, making it next to impossible to build a granny flat at the front.

+1 on this.
It matters much less how big the property is than "what's the distance between the back door (of the main dwelling) and the back fence. If it's not more tham 15 mtrs I'd walk away. I personally wouldn't touch a block with less than 17 mtrs but that's just me.

Brazen.