Opinion on buying small house in Seven Hills

[littleinvester]

I was reading article that some of western sydney suburbs are developing very fast and i thought to invest in Seven Hills. Currently one small house with land of 350sqm available at low price which is corner block joining two street and it is in south Seven Hills near to train station. This has been splitted by owner from 650 sqm. I am little confused whether this dual occupancy House is worth for future investment? What if i want to knock it down in future and want to rebuild new House in this land. Whether any restriction in this 350 sqm corner block? At the moment it looks like nice return after some years but having doubts about corner block and land area, so if you can help me out whether it is worth buying or not.

Thanks
littleinvester

 

[sash]

Littleinvestor,

Buying in Seven Hills close to the station, you can't go wrong so long as you buy at the right price. Also the rents should not be a lot different to your standard block. I have one of tow of these types of blocks (about 409, and 397 sqm) blocks.

As the demographic ages...smaller block houses can be in demand. You should not have any problems on the block so long as you meet the floor space ratios.

All the best.

I was reading article that some of western sydney suburbs are developing very fast and i thought to invest in Seven Hills. Currently one small house with land of 350sqm available at low price which is corner block joining two street and it is in south Seven Hills near to train station. This has been splitted by owner from 650 sqm. I am little confused whether this dual occupancy House is worth for future investment? What if i want to knock it down in future and want to rebuild new House in this land. Whether any restriction in this 350 sqm corner block? At the moment it looks like nice return after some years but having doubts about corner block and land area, so if you can help me out whether it is worth buying or not.

Thanks
littleinvester

 

[Collector]

Being on a corner and such small land size you are limited the type of property you can build.

I know you are not looking at building, but when you go to sell at a later date it will make it hard.

Your will get a good rental yield - most likely be cash flow positive, however the captial growth will be small.

There is very limited potential in this kind of property, (all the potential has been consumed by the previous owner - the one that subdivided)

Im sure that you will be able to pick up something in Seven Hills, Toongabbie, Girraween with a bigger block for not much more. It is good to be close to the Station - sure, but i feel you would be better off a couple of streets away with a bigger block.

Remember the value is in the land - not the building.

 

[littleinvester]

Thanks for reply.

But still having some doubts about corner block. I have heard somewhere that corner block is good. Is it really the case or it will be difficult in case like this where you have house with total land just 350sqm.

I feel like if you get this kind of house near to station, chance of getting appreciation is high but not sure.

Please someone can clarify me in details for my better understanding.

Regards,
littleinvestor

 

[Jacque]

Land lots are usually around 500sqm+ in Seven Hills, so a block this size is obviously limited by what you can build on it in the future (think pool, extension to existing dwelling).
However, this isn't to say it's a bad investment simply due to size. Much like a duplex or townhouse in a small complex, there are still many many people who prefer the low maintenance lifestyle and convenience of a smaller plot.

Being walking distance to the station is also obviously a plus factor, but be wary as not all parts of Seven Hills are equal if you get my drift.

As with all suburbs, there's a "good" side and a "less good" side
Watch out for proliferation of housing commission stock on the north side (Lalor Park side) in particular.

 

[gnome]

Im interested in Seven Hills too but the below post is a little worry. I would like to go for a stroll every day after 7ish, so saftey is a concern....

I used to train it from Seven Hills to the city, DAILY. And I'm telling you, there's a clear "good" and "bad" side. Anything on the 'Station Road' side was always quite scary to walk through in the evenings - and I say that being very familiar and comfortable with the Western suburbs.

The direct opposite side never seems to have the same problems.