REAP THE REWARD!! YOU MUST READ THIS!!

MOUNT BARKER, WESTERN AUSTRALIA

Nestled in the heart of the wine-country, this brick & tile house sits on a massive 1,624sqm block. Sub-dividing this into 3 will provide you with a house on a 541sqm block PLUS two vacant blocks, each of 541sqm. All for only $325,000.

Why is this a good idea? Because developers have just bought the land opposite this house and will soon be creating a new estate, complete with deep sewers, landscaping, and all that goes with improving the streetscape. How much will it cost to buy a block and build a brick & tile house, complete with gardens in the new estate? I wouldn't expect any change from $325,000. So for the same price, why not effectively buy a house PLUS two blocks now, and sell them after the estate is finished?

The house is situated well to the front of the 1,624 sqm block, and once the developers bring the deep sewers up the street, sub-division will be possible with minimum disruption. There's plenty of room for a driveway down the side with which to access the rear blocks that you'd create. In the meantime, there is a tenant in the house who loves it, looks after it really well, and wants to stay. He currently pays $190 per week and has never missed a beat.

Why am I selling then? I'm retiring and moving to Tasmania. I have an opportunity to buy a great house at a great price over there, so while I'm reluctant to let this one go, what I "lose on the swings", I expect to "make up on the roundabouts". I've owned this Mt Barker property for approx 2 years, waiting for the developers, but now I've run out of time and so the opportunity to make a tidy profit passes to you.

If you're just starting out, perhaps as first homebuyers, why not live in the front house, and sell off the 2 back blocks that you create by subdividing? This could go a very long way to paying out the mortgage over the front house and set you up financially.

The house itself consists of 3 bedrooms, but there is also a sunroom which can be used as either a 4th bedroom, or another living area, depending upon your requirements. The kitchen / dining area has Jarrah floorboards, there is a gas stove and an electric hot water system. There is a sizable patio to the rear and a large lockable garage in addition to the carport. The formal lounge at the front of the house is an excellent size. The house is located within walking distance of the local primary school, shops and an attractive park. There's a golf course less than 5 minutes away, and countless vineyards to visit too.

I'm a fully-licenced mortgage broker with 18 years experience, so if you need any assistance at all in funding this purchase I'm certainly able to help you.