Hey
What is the discount being obtained from the asking price of a semi for those who buy
Depends on condition and time on market, but maybe 10% ish. Try to avoid semis though, unless you're getting both sides
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Hey
What is the discount being obtained from the asking price of a semi for those who buy
Hey
What is the discount being obtained from the asking price of a semi for those who buy
What is everyone's thoughts on blakeveiw?
I have the opportunity to buy a house in bad condition agent says it needs 40k spent on it, so could be more.
It is about 450sqm block
3 bed 2 bath
Built in 1985
What do they sell for in blakeveiw?
Have not seen in side yet but she said it is bad.
Street is nice and clean. But is worst house in street from outside..
Thinking to buy cheaply, renovate and sell for quick profit...
Thoughts???
What is everyone's thoughts on blakeveiw?
I have the opportunity to buy a house in bad condition agent says it needs 40k spent on it, so could be more.
It is about 450sqm block
3 bed 2 bath
Built in 1985
What do they sell for in blakeveiw?
Have not seen in side yet but she said it is bad.
Street is nice and clean. But is worst house in street from outside..
Thinking to buy cheaply, renovate and sell for quick profit...
Thoughts???
Free standing house every day of the week.
Semi is too risky (in these areas, in inner city areas they might be ok) because you have no control over what might happen with the other side. Except of course if you're buying both sides?
That's what I was thinking but short term the yield was making semis seem appealing. I guess the sacrifice comes down to capital growth because you can still pick up semi's in Edwardstown for <300k even though houses in Edwardstown are selling for 450k.
I doubt the yield is that much different between the 2.
I also doubt $20 difference in positive cashflow into your pocket is going to make up the difference in thousands of CG.
The future capital growth (from area maturity, reno, development or a mix of all 3) is what makes you wealthy over time.
Thanks for the advice D.T I'll stick to freestanding places
Thinking of subdividing my corner block at Elizabeth North and building a 4x2.
House only cost me 162k including SD and repairs so far
Have been told by the time a sub divide and build it will cost me an extra 200k.
Is this a good guide?
Sub division is roughly 30k+- and build a 4 bedroom is 170+-?
Valuation won't stack up if you're going to have 200k alone in hard costs. Not the time to do this IMHO, as there is minimal profit margin with land prices suppressed from government releases.
Not necessarily a good return from it.
Costs seem reasonable. So youre able to retain existing?
Corner block, have you looked to see where the sewer runs? My SA Water bill is $25k eat's into the fat for me, but could be a deal killer for you.
What's your end result from this? Are you going to be selling? If keeping what will they rent for? What are all the costs? Does the $200k get you fully established (fencing, landscaping, driveway, perm paths, a/c, window treatment, flooring...)
What about the valuation, do you need that to stack up to be able to borrow the funds? What's the value of the new property going to be? And the old once block is split?
$170k turn key for a 4x2 - how many sqm we talking here?
You'd get far better return by using those resources collecting more similar subdividable cashflow positive properties. There's quite a few around.
Then develop them once the numbers stack up better. And I imagine they will once the land release stops.