Is it wise to purchase an existing property in suburbs where there are new land lots being released (say stage x in xyz suburb).
I’m just wondering if let’s say the demand for the new land lots are high, would existing property also be able to “ride the wave” and increase in value also?
Anyone who bought into such properties, please I would like to hear from you.
Thanks
Hi Vernon
I purchased a coastle IP in 2001 which had paddocks up to the back fence. Approx. 12 months after purchase these paddocks were turned into a new estate with very nice water views.
Since my purchase the value of my property has doubled.
I believe that the capital gain has been helped along by the new estate and as long as I maintain my property (as if I lived in it myself) then its value will continue to rise due to its coastal location.
My purchase price (house and land) is approx. 70% of the price of the new land alone.
I believe it has more to do with location and general maintenance than the establishment of a new estate.
Just my view!
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