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would you buy a shell house in south c for 12m?
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vky
#1 Posted : Tuesday, December 04, 2012 8:29:44 AM
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Joined: 6/17/2010
Posts: 572
the house requires substantial amount in doing the finishes as it has no roof, no windows etc, house has an sq, its in an estate setting and I am informed that the going rates for houses in that place is 16m
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Jamani
#2 Posted : Tuesday, December 04, 2012 8:48:22 AM
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Joined: 9/12/2006
Posts: 1,554
vky wrote:
the house requires substantial amount in doing the finishes as it has no roof, no windows etc, house has an sq, its in an estate setting and I am informed that the going rates for houses in that place is 16m
Would you buy a shell in south C for 12M, Yes depending on -Location and size of the plot -Size of the shell -Proximity to the main road -number of sides for plot facing the main roads -Council Zoning of the area all assuming clean titles and many more.
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jaykay
#3 Posted : Tuesday, December 04, 2012 9:24:17 AM
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Joined: 4/6/2009
Posts: 78
@vky:assuming title,rates and NCC are OK- no. Because: 12MN is a complete unit in that area at least around 12 months ago.Older units i.e. more than 5 years old go for that. I would say 8MN.finishing it may cost you another 3MN
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accelriskconsult
#4 Posted : Tuesday, December 04, 2012 10:02:42 AM
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Joined: 4/2/2011
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Location: Nai
vky wrote:
the house requires substantial amount in doing the finishes as it has no roof, no windows etc, house has an sq, its in an estate setting and I am informed that the going rates for houses in that place is 16m
what size of land does it sit on?
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jaykay
#5 Posted : Tuesday, December 04, 2012 6:36:04 PM
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Joined: 4/6/2009
Posts: 78
@accelriskconsult: the house may be sitting on less than an eigth-most townhouses sit on that kind of space. @vky: for less than 12M you can get a similar house but older in the same locality. 16M is asking price at Phenom.Rental yields would make you weep.
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