Premium for largest townhouse in the complex?

Hello,

I am looking at a townhouse in a complex of 20 odd townhouses. The particular townhouse I am looking at has a very large courtyard compared to all the others as it is on the edge of the complex.

From past sales, other townhouses in that same complex have been selling for $300-330k but the total amount of land is about half that of the townhouse I am interested in. The interior of the townhouses are all around the same size, however the courtyard is much much larger than all the others.

My question is, how much of a premium would you expect to pay for this extra land? What would be a fair price?

Thanks in advance for your help.

(P.S. I hope I've posted this in the right forum. Please move if this is the wrong place).
 
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I usually try to separate the price into 3 components:

Land + Cost to build + 'Wow' factor

Try that as an exercise, see what you find.
 
First home buyer :) so PPOR for the first 6 months, then an IP

Ok so in terms of dollars what is the wow factor of having your courtyard 100 or so sqm bigger than all your neighbours? :)
 
A couple of things to think about.

Will it rent for a cent more? (speak to local PMs)

When being revalued by the bank will they take your increased land into consideration when they value it on purchase/ revalue it down the track?

If you could get it for the same price as those with smaller land then I think it could be a good deal. I would want to be careful paying much over the other properties as this difference may not be appreciated by others down the track unfortunately.

Don't trust anything I have said above. Check it out yourself with local agents etc.
 
First home buyer :) so PPOR for the first 6 months, then an IP

Ok so in terms of dollars what is the wow factor of having your courtyard 100 or so sqm bigger than all your neighbours? :)

Have you figured out the land price difference yet?

Is the house price the same?
 
all with what goanna said - but also, what do people in the area want to rent? what type of renters are they? what lifestyle are they after?

100m2 extra is a lot of yard to look after if you're a professional couple, two uni students or older.
 
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