Hi all,
Currently looking (again) at another IP, only this time the house is on an “irregular” shaped bit of land. I have only ever bought property on rectangular blocks, so this is a newie to me. Furthemore, as this will only ever be an IP do you think it is worth considering???
More info:
* Excellent location – walking distance to primary/secondary schools, university, shopping centres, transport, absolutely everything within minutes!!!
* Good sized backyard (albeit irregular in shape) enough for kiddies to play (595spm).
* Great price range!!!! I love a bargain!!
* Great rental potential, yield would be around 5% at present, maybe a bit more.
* Post 1985 – depreciation purposesWhat are your thoughts????
Thanks in advance,
Jo
I dont think it makes much difference. My PPOR is on an irregular shaped block. The only down side is that my backyard is a little smaller than the neighbours.
It wouldn’t matter to me whether a block of land was irregular shaped or rectangular if all other aspects were favourable, like in this case.
Do you ask from a ‘feng shui’ point of view?
Celivia
Hi Monopoly, sometimes an irregular block provides a quirk or uniqueness that can add value, you have to decide wether this would appeal to a prospective tenant or not. On the other hand it could be a good negotiation tool, in getting the price down lower.
Also, make sure there are no strange easements on the blockThanks everyone!
You’ve been very helpful; and yes 1wesley I will look into the easement issue; thanks for the tip! [thumbsupanim]
Yack, you know I think you’re a legend!!! [thumbsupanim]
Celivia – Fen
shoeshui??? Never thought about it, but hey, worth remembering I guess, good vibes and all that; can’t hurt???!!! [tongue][upsidedown][winking][winking]Cheers,
Jo
Hi Monopoly,
I guess it depends how irregular it is, this could possibly effect resale. I wonder how many people infact worry about this when purchasing properties. This certainly would not be a major concern for me unless I were considering buying for subdividing purposes down the track.
From what you have stated it has the LOCATION factor, probably more important.
Good luck [biggrin]
From my experience, many of the ‘odd-shaped’ blocks end up larger than the other blocks in the area. There were three odd-shaped blocks in my street and strangely enough they are the only 3 decent sized blocks in the street. They also end up a good price (per square meter) compared to nearby blocks.
You can still use gardens, paving, sheds or a cubbyhouse to change the shape to a more regular one if it does become an issue though.
irregular is only a problem when it restricts what can be built on it. there was a 2.3m (or thereabouts) wide laneway for sale or sold in sydney recently, now that is restrictive, yours i’d think not so at all.
cheers
brahms
If you don’t ask, the answer is no!!
Hi Marisa, Brahms and Sizzling_duck,
Thank you all for your comments.
SD, yes you can always re-arrange the (garden) furniture (i.e. shed) to give the appearance of a different shape. I believe mirrors are a good option to!!
Brahm, I saw something on telly about that!! Very interesting venture!!
Marisa, Yes my concern is more the “resale” issue down the track. Although I very much a “buy and hold, and hold, and hold” [laugh4] property investor, it is always comforting to know that I can get the best possible price (and that the land shape won’t dampen this).
Cheers,
JO
It would also depend on the shape, a yard that leads away from the house to a point could be very useful if you have a garden leading up to the point where you could have a water feature perhaps with a mirror (as you suggested).
Hi SD,
Yes it is a kind of fan shape, narrower down the back (almost to a point). I need to take a closer look, and will try to do so over the weekend sometime. Thanks again for your input.
Cheers,
Jo
Jo
Mum and Dad’s house sounds similar to the one you describe. ie a fan shape. But the narrowest point – enough to park one car on the road (as opposed to the rest of the street who could park 2 or 3) is at the front. At the back, our backyard actually ajoins two whole backyards – so ours is basically double theirs.
I guess it’s the size that matters (although most don’t believe it[biggrin]), so if there’s plenty of space the angles shouldn’t matter…
Cheers
MelOriginally posted by melbear:I guess it’s the size that matters (although most don’t believe it[biggrin]), so if there’s plenty of space the angles shouldn’t matter…
Mel,
[blush2]We still talking “land” size here???? [blush2] Sounds like “block envy” to me!!!![laugh4][laugh4][laugh4]
Cheers, [lmao]
Jo
P.S. I know what you’re saying Mel; thanks for the comment (you gotta admit though, it was just too good an opportunity to let slip)!!! You’re a cracker Melbear!!! [medieval][lmao]Block Envy[biggrin][guilty][lmao]
Cheers
MelMonopoly & Mel,
I may get envious if I get to know what the dimensions are???? (of the block)[satan][arrowhead]Hi Marisa,
I’m not into developing (well not right now) so size isn’t important to me on this one!!!![blush2][lmao]
Besides, I closed the deal on another property today, which I much preferred anyway; YAY !!!!
Mind you, I feel somewhat guilty; [worried] after getting all that awe-inspiring feedback from everyone too!!
Thanks again all; you’re the BEST !!!![thumbsupanim]
Cheers, [sunny]
Jo
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