All Topics / General Property / What should i do with Mernda land.

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  • Profile photo of AlishaAlisha
    Participant
    @yoosoofa
    Join Date: 2015
    Post Count: 1
    November 16, 2015 - 11:05 am

    I have a 480m2 land in Mernda near Ivanhoe Grammer. I changed my mind to build a home for myself as i change my mind to stay there. Can this form recommends what should i do. Proceed to build a standard 1 storey house to build and rent out or build 2 townhouse to rent out. Its a corner lot.

    Thanks.

    Profile photo of BuyersAgentBuyersAgent
    Participant
    @knightm
    Join Date: 2005
    Post Count: 338
    November 16, 2015 - 7:39 pm

    Great spot for a corner block! But that is a big decision to leave to others!

    To start with, you need to answer a few questions:
    1 – What are your long term goals
    2 – Subject to (1) what is your preferred timeframe for holding this property
    3 – What does the market prefer in terms of both value and rental
    4 – What does the zoning allow
    5 – What can you afford

    All of these will help inform your decision, failing that I would consider talking to someone experienced in running development feasibility studies. One option might be twice as profitable as the other.

    BuyersAgent | Precium
    http://www.precium.com.au
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    South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au

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