- MikkoParticipant@mikkoJoin Date: 2013Post Count: 26
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.Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Block with Development Potential every day of the week.
Yours in FinanceTracey BParticipant@tracey-bJoin Date: 2009Post 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.