Hey all,
So it's been a while, but after two dislocated knee caps, a broken elbow, my best mate fighting off cancer and my mum being diagnosed with bipolar I'm ready to return my focus to investing. A lot can happen in 18 months!
I'd like to know people's thoughts on the following:
I'm looking at a two bedroom place in a desirable suburb at Lake Maquarie, with plans to remodel it in the future. The catch is, its on a 570ish metre squared ice cream cone shaped block in a suburb where most places are 1000ms rectangular blocks (although subdivision is changing that a bit).
It's currently priced accordingly which is why I can afford it and I realize this will always hold back this property in one way or another (both price and resale speed).
It is a two story, two bedroom with carport underneath place, which I believe can be modernized in keeping with the area's expectations, and turned into a four bedroom,two bathroom with double garage residence.
The question is, does the block hold back the value so much that it's not worth doing in your opinion?
Cheers
Greg
So it's been a while, but after two dislocated knee caps, a broken elbow, my best mate fighting off cancer and my mum being diagnosed with bipolar I'm ready to return my focus to investing. A lot can happen in 18 months!
I'd like to know people's thoughts on the following:
I'm looking at a two bedroom place in a desirable suburb at Lake Maquarie, with plans to remodel it in the future. The catch is, its on a 570ish metre squared ice cream cone shaped block in a suburb where most places are 1000ms rectangular blocks (although subdivision is changing that a bit).
It's currently priced accordingly which is why I can afford it and I realize this will always hold back this property in one way or another (both price and resale speed).
It is a two story, two bedroom with carport underneath place, which I believe can be modernized in keeping with the area's expectations, and turned into a four bedroom,two bathroom with double garage residence.
The question is, does the block hold back the value so much that it's not worth doing in your opinion?
Cheers
Greg