Picture
Would You Live on 200 SQM

Let me ask you a question do you think people will live on 200 SQM.
With next to no yard.  
(They will if they have no choice)


The answer is yes in the city or very near by. Not out in the suburbs.


WRONG.
I was shown  by a student of mine in Sydney an area that has done  a 180% turn around from SLUM to YUM.

Not a vacancy anywhere. Looks a million well actually $400,000 +++
In His words " I missed this one I only had 3 years notice. That change was on the way."

Why am I tell you this two reasons:

    He had 3 years Notice and missed it 

    This suburb was not in the CBD it 30KM out

The average block size in the area is 500 sqm to 600 sqm+  Yet people bought 200 sqm blocks

If you are like me then you are going are they mad. ( Well I think they are they live in Sydney, But that's a life style choice)

Anyhow I just wanted to get you thinking if they can do it there why not here in 20 YRS Time.  ( Or less)

Background
Here is the magic in this deal. It was an  OLD Department of housing estate. There was people in them and they looked like CRAP (Nice way to put) No one wanted to be in the area.

The developer moved the tenants off, Bull dozed the old houses.
Cut the land up into 200 sqm Townhouse blocks.

These properties walked out the door as they were near shops & a train line.
 The 3rd release still has old houses on it and they are all pre sold I'm told.

The old estate had a park around it, They fixed up the old playground installed new swings,grass & seats.  
It looks very nice heck I would think of living there.

One smart thing they did was put in heaps of parking & wide internal roads. As the place was full of cars.

Now did all this happen overnight - NO

There must have been a application to council and big sign out front.
Saying "We are knocking down all these houses & building all these new Town Houses."
 
Now someone does not spend a few million on a little project like that without planning on make a profit
So how could you profit from this.

Easy buy next door before it gets built.
What I'm not telling you is that there was a walk way to the park from the other houses further away so they now can use the park. When they are at the park they see all the nice new homes.

Do you think some people could not afford the $400pw rent for the area now . But still want to move to the area.  

They would be happy to rent the old renovated house within walking distance for $350pw. It has a yard,
not new but bigger & renovated. It's a good compromise.

This project has lifted the whole area for miles around.

What are you missing
So my Question to you what are you missing that is right under your nose. !!!


Comments are closed.