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  • Profile photo of MikkoMikko
    Participant
    @mikko
    Join Date: 2013
    Post Count: 26

    Hi,

    I am after some honest opinions. I am looking at a house about 12kms out of a capital city CBD, it is zoned for low to medium density residential, and is about 250m away from local shops and bustops. It’s price is right about the median price for the suburb. However, I am also looking at another house which is less than 10kms away from the CBD, same size block, same condition house, but not zoned for development. It sits at the same price as the other, though it is about $100k below the median for its suburb. It is close to train and bus stations.
    I’m not really interested in hearing: ‘it all depends on my situation’ etc… I would just like to know, from that information, which would you choose, the block with development potential or the block closer to the city?

    Cheers guys.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,010

    Block with Development Potential every day of the week.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Tracey BTracey B
    Participant
    @tracey-b
    Join Date: 2009
    Post Count: 158

    A property with multiple options to profit would be my preference.

    Is it possible that the one currently not zoned for development could be?

    Make sure you explore ALL options so you can be comfortable with your decision.

    Cheers,
    Tracey

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