113 Mahoneys Road, FOREST HILL

With prices skyrocketing 16.4% throughout 2021 in Melbourne's East, it's no wonder that so many people are looking to find savings where they can. Buying a brand new home has its setbacks; you pay more stamp duty than you would if you purchased land and built on it. You also don't have the ability to custom design the floor plan and style to suit your family's needs.

Enter 113 Mahoneys Road Forest Hill, an original condition 1960's home. Mahoneys Road is a perfect example of the type of property you want to seek when building a new home. The 583m2 of land (approx.) reduces the chance of competing with developers who're looking to develop multiple units. Combine this with a generally flat block, which will help you save on building costs, and you've got a winning formula.

Furthermore, consider the potential to 'land bank' the property in the event your circumstances change. Having the ability to rent the property out while getting plans and permits approved or while waiting for the land value to increase adds a level of protection to your investment. Finding a tenant will be a breeze, as this property features two separate living zones, and it is in close proximity to Forest Hill Chase shopping centre.

Noel Jones Real Estate has taken every precaution to ensure the information contained herein is true and accurate, however accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies, or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.