I've been looking at several townhouses in Melbourne's northern suburbs. Today, I noticed for the first time in the contract of sale of a nice 3 bedroom place that the zoning is Commercial Zone 1. This property is at the back of a subdivision of a corner block that borders a main road. It's set well back from the main road so there's only minimum noise. Only the unit (1 of 4) that is by the main road is used for commercial purposes; the other 3 have always been residences.
My doubt is regarding the impact, if any, of this residence being zoned commercial. Is there any finance impediment that might arise? Can this be an advantage in the future, as it could potentially be rented for commercial purposes?
The purpose of buying this property is a PPOR in the beginning and then converting to an IP within 2-3 years.
My doubt is regarding the impact, if any, of this residence being zoned commercial. Is there any finance impediment that might arise? Can this be an advantage in the future, as it could potentially be rented for commercial purposes?
The purpose of buying this property is a PPOR in the beginning and then converting to an IP within 2-3 years.
