Hi
Found a 2 bedroom property of 50sqm for a price of normal 1 bedroom unit of similar size. It was a big house converted into a couple of units, behind McDonald which is by the side of main road.
Could experienced investor give me advice on these
Is a small 2 bedder worth the similar price of one bedder in same location?
Is the capital growth usually better for 2 bedder than one? What about this case, a small 2 bedder ? Strata levy looks normal too
so what could be the reason a 2 bedder sold for a price of 1 bedder? Thank you^^
No laundry no parking
That is sqm size is bordering on ridiculous. I won't go anywhere near the property. What is the strata on the property?
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
I'm with Shahin on this one. 50 m2 is the minimum that the bank will lend on with max lvr but this is tiny for a two bedder.
Too small and doesn't seem like the ideal location – next to a maccers.
It sounds like it will be a difficult property to sell in the future which indicates CG prob won't be the best.
cheers
jamie
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]
Even if you could find buyers and renters happy to live in such a small dwelling, there is no laundry and no parking. Stay away from these units.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Sounds like an investors has tried to make the best of an average property and stuffed two 'units' into one house and the one you are looking at gets short changed without a laundry or parking.
A 2 bedder without even a single car space. Not a good idea.
Maybe you could target the 16 old years working night shift at Maccas, who don't own a car to be tenants
Cheap doesn't always equate to a good deal.
Wouldn't touch it,
I'm surprised they can even sell this with no parking, or have the strata done.
What suburb is this?
Have you been inside it and looked at where you would put a bed, 50 is really a 1 bedder size. Please don't buy this!
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email Me50 is small for a 2 bedder. I agree with everybody. Why would you buy a property with no parking and no laundry. And do not say that you like it because of McDonald's. Because I am pretty sure that there are lots of properties that has McDonald's nearby.
But if you really like the place, you will need to consider some factors. Good luck!
As has been pointed out this is a small size for a 2 bedder, not impossibly small but a challenge! A property has to make sense for a person to want to live in, so a well designed 1 bed will be superior than a 2 bed just for the sake of it in most cases for future growth.
A few areas to watch for compromise regarding smaller flats.
> Laundry, often not internal and squeezed into a communal area in blocks
> Lock up garages (with or without laundry)
> Car space
> Size of the bathroom, needs to be functional
> If 2 beds on 50m2 is the bathroom actually an ensuite or available to both rooms?
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