What would fellow people do and what are my options,
a property that I initially had interest and offered 20% below asking price, which had been on the market for 12-16 months, coincidentally, that got sold the day after I made my offer at full asking price has become availalble,
Im thinking about renovating it and either renting it out or selling it for hopefully a good price,
anyway, its in a quite good area, block size is 720sqm, this area, blocks of this size are fairly common, but not cheap, subdividing is fairly popular,
this property is in a good location, however noone has lived in it for 10-15 years, despite that, it seems structurally fine (will do inspection when required), kitchen is non existant, its dirty and gloomy, but a fairly big reno would make it be a top property,
my question is, the block itself is trangular in shape with a point backyard,
drive way is approx 2.6-2.7m, council requirements are min 3m
so without tearing the house down, subdividing is impossible unless council changes the rules,
This would make a great reno, however, I feel that I am wasting the potential of it, if it was torn down, it would fit 2 dwellings, of which I have no intentions of doing? would renovating actually do harm in the future, if say someone sees it says , "well its too nice of house to tear down, so not worth as much"
a property that I initially had interest and offered 20% below asking price, which had been on the market for 12-16 months, coincidentally, that got sold the day after I made my offer at full asking price has become availalble,
Im thinking about renovating it and either renting it out or selling it for hopefully a good price,
anyway, its in a quite good area, block size is 720sqm, this area, blocks of this size are fairly common, but not cheap, subdividing is fairly popular,
this property is in a good location, however noone has lived in it for 10-15 years, despite that, it seems structurally fine (will do inspection when required), kitchen is non existant, its dirty and gloomy, but a fairly big reno would make it be a top property,
my question is, the block itself is trangular in shape with a point backyard,
drive way is approx 2.6-2.7m, council requirements are min 3m
so without tearing the house down, subdividing is impossible unless council changes the rules,
This would make a great reno, however, I feel that I am wasting the potential of it, if it was torn down, it would fit 2 dwellings, of which I have no intentions of doing? would renovating actually do harm in the future, if say someone sees it says , "well its too nice of house to tear down, so not worth as much"
