Maisonettes?

We've located a pair of Maisonettes in Port Augusta on appr 1000m2 land. We inspect the inside tomorrow but driving past them, they seem OK. They are however located opposite the corner of a school oval. So not right in front of the school where it is noisy, but at the other end across from the oval.
What's people's experience with buying near schools. I know being close to schools is a good thing but what about right on their door step? Do you think it will turn renters off?
Also, the maisonettes are the last of the original properties in a couple of streets surrounding them. New development - 3 bedders - surround it, and the block next door is being leveled for another development. I'm thinking this is a good thing for the maisonettes value?
The reason we want to look at this pair of maisonettes is that they are very affordable, it currently nearly pays for itself with the amount of rent it is getting and it is on 1000m2 - great for development later.
We'd love anyones opinion of what they think!
 
Oh really? I didn't know that. For people that are not aware of what they are - basically two identical houses joined together by a common wall. They can be sold seperately or as a pair. The pair I am looking at have 3 bedroom each.
 
As long as you're looking at buying both of them Happy, I like it. One only I wouldn't touch.

Personally I wouldn't want to live opposite a school, but the oval is already better, and as a rental it wouldn't bother me.

It does sound very appealing that the rest of the houses on the street/block have already been knocked down and developed. Just ensure this block is also suitable for development according to council guidelines (quick 5 min phone call to portaguta council) and there's no hidden surprises like easements, sigificant trees etc.

Pay for themselves? Even better!
 
Cool, so it looks like we are on thr right track. It's just hard to know if you are on the right track as a beginner - I guess you just have to trust yourself.
 
Hi Happy,

So.....are you going to buy in Pt. Aug.?
You are ready to loose the subsidised rent provided by the gubberment?
You have listened to your heart and not to your brain?:D

Anyway, for the future developments, you need to confirm with the council about their requirement and associated costs as the masionettes have a typical water and sewer layout in the backyard where you will plan your future development?:rolleyes:
 
I think SA is the only place in Australia that sells Maisonettes :D

Cheers,

The Y-man


I purchased maisonettes in Melbourne, about 1250sqm2 block, thought they would great value with this land component.
I am now in the process of putting together plans and permits for 8 unit site.

Happy
From my experience this has been an excellent purchase due to development potential. Rents almost cover the interest.

As far as proximity to school goes, is this a high school or primary school?

Cheers, MTR
 
Pt Augusta has been growing very consistently for the entire time I've known of its existance - so, about 28 years. Places like Whyalla, conversely, have gone down a lot in that time and then come back up very recently.

Is it on the "good side" or the "bad side" of port augusta?
 
Near a primary school... so shouldn't be too many rat bags hanging around!

I have purchased property opposite a school, it did not effect resale.


When I was purchasing my maisonettes in Melb I contacted an architect who did all the preliminary research for me to find out what could be achieveable as far as developing site and checked for easements etc. This cost me nothing. Not sure whether you could do the same in SA?

Cheers, MTR
 
Top