Would you buy a property whose backyard neighbour is a cemetery? Is it a good buy?

Hello my fellow PI's. I'm looking for a property to live in with the possibility to rent it out in a couple of years.

I have just come across a property in a beachside suburb in SA located 12kms from the Adelaide CDB. It's around 1200meters from the beach, some 650m2, 3 bedroom, 2 bathrooms and is going relatively cheap.

The only problem I see is the back yard backs onto a cemetery. Guess that's why it's going cheap.

I would love to know what other people think about living next door to a cemetery and from a rental point of view will it be difficult to lease.

It's an old house but with some cosmetic reno's will come up mighty fine.
look forward to hearing what others think of this purchase from an IP point of view - such as capital growth, ease of future rental and also from a resale point of veiw. Will it be hard to resell even if modern improvement are made, new bathroom/kitchen with quality fittings and fixtures?

I'm not sure how long this property has been on the market but I'm going to view this evening and will ask all the relavent questions.

looking forward to your valuable comments,

Cheers

Glamm888
 
Many people don't mind living next to a cemetary but many people do
so this will limit your options.

It will also be renting for less
 
Ta, buy cheap sell cheap rent cheap that's how it's going to be when you live next to a cemetery. Will still have a look at it tonite.

Thanks

Glamm888
 
i wouldnt buy a property if its in the dead end market :D

Stagnate market

stiff neighbours...

the list goes on.

to me i wouldnt want to live there, i got no problems with the cemetry, just like haveing neighbours all around me. vacant land some times attracts dodgy charachters at night.
 
The proeprty has neighbours on either side just the backyard boundry fence is the cemetery. The peoperty is in a great suberb next to Glenelg, Brighton SA. So interms of area, very good.
 
I have a mate who just sold a ppor townhouse next to a cemetary in Sydney it sold within a week for a really solid price around 500k only just below asking - didn't seem to bother the market - I think they can be one of the few quiet places left in cities and often have lots of green so at night is it really any worse than say a golf course?
 
I would love to know what other people think about living next door to a cemetery and from a rental point of view will it be difficult to lease.

Prefer to not live there myself. You reduce your pool of tenants. Ppl of Asian extraction will not buy there or rent there.

Numbers might stack up now - but move forward a couple of years, something happens to your plans and you have to sell in a hurry. Will you be able to do that if it is next to a cemetary, on a main road, next to a petrol station etc.??
 
It all comes down to how you "spin" it. Always focus on the positive.
When it comes time to rent it out you can always say in the ad: "Quiet and easygoing neighbours".
 
Not worth the risk IMO.. too many other good properties out there at the moment to choose from.

The only consideration is if the cemetery put in a bid to purchase more land - but this is a far odd.
 
Rob love the way you think! Being positive in life - A great thing! Selling in a hurry maybe an issue? I like to think long term and have the view of keeping an assett and living passively off it....Well we'll see if I have the same view when I'm around 70.

LOL.
 
What about looking at how full the cemetary is and see if there is an opportunity of selling property to operators as extended burial sites. If the properties are cheap enough maybe buy a whole string of them and try palming them off to cemetary operators. Or maybe strike a deal with crematoriums. Just thinking outside the box here.
 
I don't mind being neighbors with those that have gone ahead of us. :) I think you should go for it if it's cheap like you said and they will allow rent-to-own scheme for the house. Later, if you decided it's not for you, you can also do the same thing. Or you can peruse Craiglist for more better and cheaper offers. :)
 
Glam, the place has been on the market since November '08. Started at $550k and has progressively dropped to current price. So the cemetery may be putting some people off, although I think he was dreaming at his initial price anyway. Vendor might be starting to get a bit desperate to sell?

The house around the corner also currently up for sale and backing onto the cemetery has been on the market since Nov '08. Although they seem to have stood firmer on their price.

If it helps, the block you're looking at is also big enough to subdivide down the track (if that floats your boat) at 680m2 and good frontage.
 
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