Do you buy the renovated (inside only) 3 x 1 house with a study on a 413 sqm block for $360k or
the semi renovated 3 x 1 on a 700sqm block for 370k-390k (same suburb).I’d be inclined to go for the larger block – it should do better over time.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
For capital growth, perhaps buy the house on the bigger block.
For better income and yield, take the renovated house on a smaller block.
Of course, you could also buy the semi-reno'd house on the larger block and extend, build a granny flat to get dual occupancy or even subdivide to increase yield directly or indirectly. All this would be STCA obviously.
Depends on the location, position may be more important to yield & desirability.
Well that depends how far the amenities are (e.g. shops, schools, public transport). It is better to buy the property which has more desirability to the tenant because you rather have your IP tenanted all the time particularly if its closer to amenities.
No point buying a larger block of land if the IP is not desirable to tenant (e.g. difficult access to public transports etc, further from the schools or shopping).
You need to understand your target market well then tailor your buying strategy to fit with it; you are the best person to gauge this.
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