we are looking at 2 houses in good area, (ie near infrastructure, schools shops, drs, trains etc,) same street for subdivision and build new unit/house, selling this and renovating older house for perhaps sell or rent. They are facing each other on opposite sides of street and both similar price.
One block is horizontal, ie the new house to be built would have street frontage, but North would be at the rear meaning living area perhaps courtyard would be at back. . And the current 2 bedroom house needs $20,00 renovations before even tenantable. Due to its layout would easily be able to become 3 bedroom and improve layout, put in new kitchen, bathroom, polish floor boards etc.The other house is 3 bedroom plus self contained bungalow thereby allowing fantastic income while building at the back. However this house does have street appeal, ie quite pretty. This means that the rear new house would face north and therefore face the back of the front house.
Am I correct in thinking that the house with street frontage would have more capital growth and therefore would sell for a better price if we sold on completion. Our fallback plan is to sell the renovated house and rent the newer .
How do I assess this, ? any ideas appreciated.
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