possible purchase on corner location

[quintets]

Is it possible to add enough value to overcome a less-than-ideal corner location?

My wife and I at odds over buying a property on a corner. The house is very good; 4 real bdrms single brick about 20 years old, separate lounge and dining, polished floorboards, kitchen needs doing up and the bathroom is alright. Land is 682sqm. The price is very attractive as well. So far, it's looking good as a fixer-upper. However, in a suburb where everyone has a decent driveway and a garage, it lacks both and would require a council change to allow moving the current very short-and-sad-excuse-for-a-driveway entrance onto the other side of the property. Assuming we can get the council to agree, the garage is fix-able.

Meanwhile, the house hasn't sold for quite a while when many other houses in the same price range have long been snapped up.

My objection is the fact it's on a corner (not an intersection). The road curves around 90 degrees and the house is on the inside corner. In my mind, the house is a little too close to the road.

The question is, if we add value, is it overcome-able? We were thinking, a new driveway, and garage. Adding a french bi-fold door out the back dining area onto a new covered deck. A new kitchen helps.

But it's this corner!!! Do others have concerns about corner houses? Is there something else about this house I should be thinking about?

Regards,

Jireh

 

[Ausprop]

Can't say corners really bother me. What sort of set back has it got? it must compy with council regs etc right?

 

[quintets]

Ausprop,

Good question. I was wondering if there is such thing as a "standard" setback for a suburban area such as Bankstown Council (NSW). I'm going to talk to the town planner after Easter. An agent mentioned there may be a restriction on fences to allow cars to see around the corner.

All the other streets in the area are much wider. This corner is the narrowest, squishiest of them all. It's just out of character for the whole area. If I could just move the house itself....

Have you ever seen a house that had something "bad" about it on the outside, but the inside made up for it many times over?

Jireh

 

[sailor]

I just love corner blocks....I think that in itself simply adds value. The fact that you can choose to relocate the driveway is a bonus. Councils are pretty good with approving the relocation of a driveway, and it means you have some choices about exactly where to put it. As for the height of fences, there's always a hedge, and these are my favs:
http://www.gardenersbest.com.au/plants.asp?id=56

Low maintenance with abundant colour.

 

[BV]

It seems that buyers don't like the spot.
Do you get car beam lights scanning the house at night?
Are there parking restrictions on the street?
You could definitely improve it but are you able to remove all the problems?
cheers

 

[lizzie]

i don't know the block, or area, so am making a general comment - but what i have observed over many years is that properties that are cheap and difficult to sell because of their locality problems (trains, bikie neighbours, car lights, pub, main road etc) remain cheap and difficult to sell even after reno's - because the initial problem is still there.

personally if this one is being difficult to sell because of a factor outside your control - i'd look for another house.

 

[TheAnalyst]

Is it possible to add enough value to overcome a less-than-ideal corner location?

My wife and I at odds over buying a property on a corner. The house is very good; 4 real bdrms single brick about 20 years old, separate lounge and dining, polished floorboards, kitchen needs doing up and the bathroom is alright. Land is 682sqm. The price is very attractive as well. So far, it's looking good as a fixer-upper. However, in a suburb where everyone has a decent driveway and a garage, it lacks both and would require a council change to allow moving the current very short-and-sad-excuse-for-a-driveway entrance onto the other side of the property. Assuming we can get the council to agree, the garage is fix-able.

Meanwhile, the house hasn't sold for quite a while when many other houses in the same price range have long been snapped up.

My objection is the fact it's on a corner (not an intersection). The road curves around 90 degrees and the house is on the inside corner. In my mind, the house is a little too close to the road.

The question is, if we add value, is it overcome-able? We were thinking, a new driveway, and garage. Adding a french bi-fold door out the back dining area onto a new covered deck. A new kitchen helps.

But it's this corner!!! Do others have concerns about corner houses? Is there something else about this house I should be thinking about?

Regards,

Jireh

Hi, Jireh

Just stay away from it. You said it had been on market for a while. That is the perception people have. When you resell, you will meet the same perception. I promise you will regret if you buy it. Do not think you got a bargin. It is my honest opinion. I have plenty experience.

 

[Lofty]

Hi Jireh

This is just the type of property we, as Vendor Financiers, may be able to buy/sell. If you don't take the property, maybe we can work out an arrangement for you to put us onto it. Thanks.

Cheers, Paul