Am just new to all this. We have seen a historical property in a small country town that has just started to go off in prices and people are moving there because of acreages and smaller mortgages etc. Very nice community. The place needs reno’s and we want to convert it from a blank canvass into a 5 bedroom home. The only problem with the property (its in the main street) is that it is located next to one of the two pubs. What do you think the resale prospects are like?
The resale prospects could be really tough, it doesn’t matter how good you renovate it, I believe you would have a hard time selling a place next to a pub.
As a historical property you might have issues regarding things like a heritage listing aswell. However, sometimes the greatest profits are made via investments that most people wouldn’t touch.Hope this helps…G7
Why are you called cotmakers? Because if you manufacture cots I need a truck load.
Sincerely,
SolomonMaybe not such a good idea as a PPoR -lavish 5 bedder etc. However if the town has appeal have you considered the Commercial possibilities of the property– Renovate with “Heritage Charm” as a Bed and breakfast– right in the Centre of Town– or small retail premises- say subletting each room to antique, collectible merchants. with a cafe, depends on the tourist potential of the Town. I do think commercial application rather than private residential/rental application is the only way to go. Trust it is successful.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
