But surely you'd like a train line going thru that island and leading to a deep water port. Maybe even a train station and the property should be large enough to have its own post code.
How much of a "discount" for being on a main road?
- Thread starter Sunder
- Start date
But surely you'd like a train line going thru that island and leading to a deep water port. Maybe even a train station and the property should be large enough to have its own post code.
Hi Weg,
Cam across this house yesterday. Very close to main north road, still no heavy traffic and noise.
http://www.realestate.com.au/cgi-bi...er=&cc=&c=59492030&s=sa&snf=rbs&tm=1212878322
Cheers
That's near me FM, it's not that close to Main Nth - still 200m away, and the fact that Main Nth is lower down makes a big difference. We're closer than that and it doesn't bother us. You can hear the hum if you're in the front/back yard, but inside you can't hear a thing. Never bothers us in the slightest.
Interesting to read everyones views on main roads.
I think it very much depends on the main road. At the moment I keep looking at a particular place for sale on one, so wouldn't mind opinions.
Present PPOR is much nicer and in a better location, BUT it's layout drives me really insane. Would probably need another 100K to get it as I like.
Still have a morgage on that of 85K, but if we sold and bought this
http://www.realestate.com.au/cgi-bi...er=&cc=&c=16552545&s=sa&snf=rbs&tm=1212854692
after all costs, would not only save spending 100K (giving us a new debt of 185K), but would have 60 to 80K cash left over - minus some for french doors to kitchen and landscaping of gardens (husband is a landscaper
My husband seems to think moving down is a backward step, but if we bought at the discounted price (for it's main road location) I don't see the problem. As long as we're happy to live there.
House sits well back from this road, and it's very rare to see any heavy vehicles. Thought I'd post the link because it's unlikely that we'd buy it, since my husband is not keen, however was curious to see if others thought this kind of step is a false economy.
Weg, I wouldn't have a problem buying that house. Good area, and very close to the city. I drive down there every morning, and whilst the traffic is steady, it's not heavy vehicles etc - and that's during peak hour. So if the house is set back decently, shouldn't be too much hassle. Also bare in mind they've narrowed Prospect Rd from 2 lanes each way to 1 lane, which will discourage further increases in traffic for people using it as a thoroughfare to the city unless they have to.
Heads up; they'be been on the market since Feb and tried to sell at auction in March, but didn't happen. They then listed from $585k, at one stage $560k, and now back to $580k.
But surely you'd like a train line going thru that island and leading to a deep water port. Maybe even a train station and the property should be large enough to have its own post code.
Damn straight - sounds great....
Hi,
We bought cheap on a main road, we sold it cheap, we had cheap tenants. They gave us a disproportionate amount of trouble compared to other properties not on a main road.
Being the Princes Hwy, it was as main as you can get.
You can still make money on a main road, just a little more effort in our case.
Daz,
I've heard that about you neither am I.
bye
We bought cheap on a main road, we sold it cheap, we had cheap tenants. They gave us a disproportionate amount of trouble compared to other properties not on a main road.
Being the Princes Hwy, it was as main as you can get.
You can still make money on a main road, just a little more effort in our case.
Daz,
I've heard that about you
neither am I. bye
Thanks for the replies guys.
Two things I noted on the weekend:
1. If the current tenants were to vacate, I doubt the place would be lettable without a substantial amount of work.
2. The property only *just* makes it for duplexes, and the council will not allow any other kind of subdivision.
Looks like a no-goer.
Two things I noted on the weekend:
1. If the current tenants were to vacate, I doubt the place would be lettable without a substantial amount of work.
2. The property only *just* makes it for duplexes, and the council will not allow any other kind of subdivision.
Looks like a no-goer.
Here's one I found on a main rd. You dont get mush busier than Parramatta RD.
http://www.realestate.com.au/cgi-bi...r=&cc=&c=53604810&s=nsw&snf=ras&tm=1215736041
Price seems to be discounted heavily
http://www.realestate.com.au/cgi-bi...r=&cc=&c=53604810&s=nsw&snf=ras&tm=1215736041
Price seems to be discounted heavily
that's right - to a point.
main roads properties still appreciate with the suburb though.
so while a property may be $90k instead of $100k, a 10% discount, if the suburb is suddenly worth $500k then you'll be selling for a 10% discount at $450k.
the sliding scale margin of difference gets bigger as the values increase, but if you're aware of this and can structure around it, you can still make a very tidy profit.
food for thought.
As I said: Buy cheap - sell Cheap! You also have a limited market to sell back to..
Regards Jo
Main Roads & Rezonings
One of the problems with Main Roads is that the government may well place a road reservation over your land in order to facilitate potential road widenings.
I bought two adjoining Main Road properties in WA, hoping to rezone from Residential to Highway Commercial. Didn't get far with the government and their local council pals - they said no and so I had to hang on to the two old houses for 12 years.
There were no buyers due to the road reservation and the properties could not easily be sold on the open market. Eventually the properties were compulsorily acquired in Apr 08 for a 6 fold gain. But it wasnt worth the heartache - could have made more doing other things. I have the option to repurchase remnant land after the road widening. Still thinking about that. Not worth doing unless I can rezone
Had better success with another residential property on a main road. Will hang on to that one now that the government has taken its reserved portion.
Main Roads - unless you are really game, avoid em.
One of the problems with Main Roads is that the government may well place a road reservation over your land in order to facilitate potential road widenings.
I bought two adjoining Main Road properties in WA, hoping to rezone from Residential to Highway Commercial. Didn't get far with the government and their local council pals - they said no and so I had to hang on to the two old houses for 12 years.
There were no buyers due to the road reservation and the properties could not easily be sold on the open market. Eventually the properties were compulsorily acquired in Apr 08 for a 6 fold gain. But it wasnt worth the heartache - could have made more doing other things. I have the option to repurchase remnant land after the road widening. Still thinking about that. Not worth doing unless I can rezone
Had better success with another residential property on a main road. Will hang on to that one now that the government has taken its reserved portion.
Main Roads - unless you are really game, avoid em.
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Holy thread resurrection batman!
I'm looking at a property at the moment on a highway, the Brooker highway in Tasmania. I just can't shake the feeling that it's a bad idea because, as everyone has said, buy cheap, sell cheap. This thread was great to get some more peoples perspectives.
When I turned up I thought "nice enough place, on a highway". Walking around I couldn't help think "could do some good stuff with that bathroom...on a highway".
I don't think I'll even put in an offer really...on a highway. Something will come up, especially in todays market.
I'm looking at a property at the moment on a highway, the Brooker highway in Tasmania. I just can't shake the feeling that it's a bad idea because, as everyone has said, buy cheap, sell cheap. This thread was great to get some more peoples perspectives.
When I turned up I thought "nice enough place, on a highway". Walking around I couldn't help think "could do some good stuff with that bathroom...on a highway".
I don't think I'll even put in an offer really...on a highway. Something will come up, especially in todays market.
Yuck! Positioning and presentation. And suprise suprise...it's still for sale 2 months on.
My sister has just listed her house on the main road 8k north of mackay. It has had a main road thingo (road reservation over your land in order to facilitate potential road widenings.) < that. It had it when she bought 35 years ago! Main roads have told her they will probably never exercise their option any time soon.
It has great highway exposure and a humongeous shed along with another shed. The house is older but in good repair with large rooms. The land is 1/2 acre or more.
Be top notch for a business enterprise . Be interesing to see how she goes with selling it.
http://www.blacksrealestate.com.au/...pertyID=928308&CFID=44498772&CFTOKEN=22332231
It has great highway exposure and a humongeous shed along with another shed. The house is older but in good repair with large rooms. The land is 1/2 acre or more.
Be top notch for a business enterprise . Be interesing to see how she goes with selling it.
http://www.blacksrealestate.com.au/...pertyID=928308&CFID=44498772&CFTOKEN=22332231
