Booragoon R25 Development

[DexV2]

Interesting thread, as I said am doing something similar in Kardinya, looked at sale prices from $880K to $620K same product, what is the difference??? why such a gap/variance ???

I mentioned earlier
Location, size of the block, quality/design of the property.

For example in Kardinya there are at least 3 pockets to buy into, most desirable will fetch a premium to less desirable which is not even considered Kardinya by the locals therefore inferior price.

This is why I stress the importance of doing DD, not only looking at comparable sales but discussing product with experienced RE agents in the area.

If you know what you are dealing with then you make better choices.
All the best

In terms of size and quality/design of the property I think both our blocks are comparable. I feel the difference may be in the location, while Kardinya does have some really good pockets to invest in that would have price right up with Booragoon, Booragoon has an advantage from the domino effect from Applecross, Mt Pleasant and Alfred Cove and a well built subdivided block is more welcomed.

But that's my personal feelings? haha
I probably would be spending so much to build if that was the case.

 

[sanj]

I agree with that dex, boor ago on is certainly a much more desirable suburb than Kardinya. kardy has come a long way but I while the gap may close I don't think it will ever be as expensive as booragoon

 

[MTR]

In terms of size and quality/design of the property I think both our blocks are comparable. I feel the difference may be in the location, while Kardinya does have some really good pockets to invest in that would have price right up with Booragoon, Booragoon has an advantage from the domino effect from Applecross, Mt Pleasant and Alfred Cove and a well built subdivided block is more welcomed.

But that's my personal feelings? haha
I probably would be spending so much to build if that was the case.

That is funny..... my intension was not to compare Kardinya with Booragoon no point to this, its irrelevant, could not care less which is a better area, I am only ever interested in how much money I can make.

My point was for you to consider looking at specific pockets in Booragoon to determine end value because some pockets may fetch higher prices?? which has been my experience with Kardinya.

 

[DexV2]

That is funny, I must clarify..... my intension was not to compare Kardinya with Booragoon no point to this, its irrelevant, could not care less. I know very little about Booragoon and some about Kardinya only because I purchased in the area (investment/development).

My point was for you to consider looking at specific pockets in Booragoon to determine selling price because some pockets may fetch higher prices?? which has been my experience in Kardinya.

Oh yes! Sorry I missed your point, that is something I will keep in mind the future. Definitely there are pockets of varying values in the suburb so I'll have to be more careful when doing my DD!

 

[MTR]

Oh yes! Sorry I missed your point, that is something I will keep in mind the future. Definitely there are pockets of varying values in the suburb so I'll have to be more careful when doing my DD!

Dex,
I am learning so much just buying in Kardinya, I had no clue that certain pockets fetched higher prices.

I wish you well with your development

MTR

 

[westminster]

Yes, all profit will go right back into the next project.

Correction, the Allerton link you posted was the one that was sold for 1m not the listed 930k. Rather weird but need to check again on RP data.
I too am really interested to find out the building cost. Gonna call the agent sometime this week to see if I could get the name of the builder and go from there.

You can also call Melville Council and find out who the builder was on the Building Permit.

 

[DexV2]

Oh really? Who knew! I think that would be the much better way to do it. Will let you know once I found out.