Hi all,
I have recently made my first purchase into the property market. I bought a 3 bedroom 1 bathroom uodated weatherboard home on busy Pascoe Vale Road in Oak Park, Melbourne, Victoria. My nearest two neighbours have similar size blocks (apprx 45m deep) however my block is aplrox 15m wide, whereas theirs is 17-18m. They have both developed 4 units on their blocks. Does anyone have some good starting advice for me if i should pursue this option? Will the width of the block cause me any grief? I believe the property is in an ideal location for this sort of a development as it is 200m from a train station and shops, and is only 12km from the CBD. Alternatively, i could renovate and sell down the track,or just hold onto the property and focus on spending my savings and equity on expanding my portfolio with other investment properties. Keen for any and all opinions, i’m only 26 so i’m very new and have plenty to learn. Thanks for reading my post.
Cheers,
Doug.
Hi Doug,
Without seeing the property it is hard to give an answer, the first place I would start is your local council, you can get some great advice (free too) from them, they can pull up your property and will be able to tell you if it’s feasible to fit a driveway down the side.
Do you have any rear access?
Adnie | Advice Investments
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