I have a decent block in a prime eastern suburb of Adelaide about 15 mins drive to the cbd, house is a 4 bedroom, 2 bathroom house sitting on a 850sqm block with about 18m wide frontage. Location wise is good with walking distance to the shopping district and bus stop. Being holding for fifth years now, value has gone up about 15% (not a lot i know... but that's Adl).
Just wondering what would be the best strategy if you are in my position:
1. Keep holding and rent it out as long as i can and don't bother selling or doing any development with it.
2. Wait a few more years and subdivide it into 2 narrow courtyard style houses? Or even 3 townhouse block?
3. Wait a few more years and renovate to luxury standard and sell?
Opinions appreciated! XD
Just wondering what would be the best strategy if you are in my position:
1. Keep holding and rent it out as long as i can and don't bother selling or doing any development with it.
2. Wait a few more years and subdivide it into 2 narrow courtyard style houses? Or even 3 townhouse block?
3. Wait a few more years and renovate to luxury standard and sell?
Opinions appreciated! XD