to sub divide or not?

[WebBoard]

From: Kylie S


Hi,

There's a house near me that has been struggling to sell - so I've checked it out but can't get the figures to stack up even if we get it 'dirt cheap'.

So I've been reading and thinking - and was wondering if I could sub divide the block (I think its 66'x 98') - and sell off the back yard. The thing is, its not a corner block - so the rear block would have to be accessed via a driveway past the front house.

What does this mean for the land value of the back block?
Has anyone done this before?
Is it worth the hassle?

Kylie

 

[stirling]

Reply: 1
From: Stirling Reid


I have wondered about the relative value of houses on battleaxe blocks. In Brisbane, I have come across some in standard subdivisions 5-10 years old. Houses are equivalent to the rest of the street but with nil visibility from the street. Obviously street appeal is low, in fact I drove past 4 times before I found it. However security is high. I would think that rent would be the same as other houses. For my purchase probably safe if take off an extra 5%-10% off purchase price of house and land.

Stirling, Adelaide

 

[michaelg]

Reply: 1.1
From: Michael G


Hi,

One idea I've been toying with regarding battleaxe blocks, is 'cause of the "handle" it would make a real nice "presentation" extrance with nice long driveway, lights and small neat bushes, it would make a real big impact on visitors, and if you had electronic/remote gates you could pass it off as a "mono gated estate" or something.

Michael G