I'm inspecting a property tomorrow, 1200sqm, on a main road, currently a fibro house and a granny flat, ready to be pulled down on both.
I did a quick check and the price of the property and it does seem fairly aggressively priced, but I decided to do a bit deeper research.
This place is asking $389k.
6 months ago, a house on about 700sqm, only 200m away, but down a side street (quiet) sold for $420. So I thought 30k was a decent discount for being on the main road, and getting an additional 500sqm of land.
But 12 blocks down, on a 800sqm block of land, a much better house (Brick - not sure if veneer or double) is a house sold for $320k.
The thing is, the land is very deep, not very wide, so not great for subdividing. That's not too bad as I wasn't sure if I wanted to battleaxe or just build a bigger house very recessed back to avoid traffic noise. So I'm not sure if the asking price is realistic.
There just arent enough comparable properties to take an estimation. Any advice?
I did a quick check and the price of the property and it does seem fairly aggressively priced, but I decided to do a bit deeper research.
This place is asking $389k.
6 months ago, a house on about 700sqm, only 200m away, but down a side street (quiet) sold for $420. So I thought 30k was a decent discount for being on the main road, and getting an additional 500sqm of land.
But 12 blocks down, on a 800sqm block of land, a much better house (Brick - not sure if veneer or double) is a house sold for $320k.
The thing is, the land is very deep, not very wide, so not great for subdividing. That's not too bad as I wasn't sure if I wanted to battleaxe or just build a bigger house very recessed back to avoid traffic noise. So I'm not sure if the asking price is realistic.
There just arent enough comparable properties to take an estimation. Any advice?