Which block of land to go with bigger or smaller

[brocky05]

HI

Im buying a block of land at Aberglasslyn Newcastle NSW Im undecided on whether to go for a 540square metre block for $171,000 or a 593 square metre block for $180,000. My father is telling me go for the bigger block as he is saying down the track when we sell it will be worth $20K more. What should I do we are worrking to a budget but If I really wanted to I could buy the bigger block will it be worth the extra spend now?

 

[Jamie M]

If the bigger block is going to stretch you financially than go for the cheaper one.

I assume they both have similar layouts?

Cheers

Jamie

 

[brocky05]

If the bigger block is going to stretch you financially than go for the cheaper one.

I assume they both have similar layouts?

Cheers

Jamie

the cheap one is flatter and about $2500 cheaper to build on. The bigger block has a bit more slope to it and will cost us an extra $12000 all up. Im thinking of resale value later on as we are upgrading the house up better than standard dont want to loose value because we picked a small block. Im thinking in the future 500 square block will be massive anyway which is a pretty sad fact.

 

[serendip]

From a resale value I don't really think 540 or 593 is going to make a difference in Aberglassyn. Right in town it might, maybe. I'd be more concerned about other features of the block. If there's no significant difference, I would go for the cheaper one.

 

[brocky05]

From a resale value I don't really think 540 or 593 is going to make a difference in Aberglassyn. Right in town it might, maybe. I'd be more concerned about other features of the block. If there's no significant difference, I would go for the cheaper one.

Interesting.... I do have one child who likes being outdoors. Its a hard decision

 

[serendip]

Interesting.... I do have one child who likes being outdoors. Its a hard decision

Is it for you or an investment?

 

[brocky05]

Is it for you or an investment?

For me, but with plans to sell in 5-10 years time and make a profit fingers crossed.

 

[serendip]

For me, but with plans to sell in 5-10 years time and make a profit fingers crossed.

I guess I'm comparing it to what we have, which is a 320m2 block, so 540 seems BIG! We have a 1920s timber cottage & a corner block so still have a decent amount of space for small people & dog. Other advantages are 10 mins from work & beach

Anyway, back to the question at hand, I still say the other attributes of the block are much more important than a 50m2 difference in size. Smart building design can easily ensure you get 50m2 of your garden back. Aspect of the back garden, proximity to busier roads, what's surrounding the blocks, are either / both of the blocks flood prone? etc

 

[brocky05]

They shouldnt be flood prone its a stocklands development new estate. Im thinking of going the smaller one. Our block at the moment is 375 with a tiny house on it so 540 should feel a tad bigger with a 27 square home on it. The $11gran saving will allow us to upgrade the inside of the house a bit more

 

[Jamie M]

Hi Brocky

I agree - the smaller one seems like the way to go.

Cheers

Jamie