In 2015, the number of cremations officially overtook burials. Cremations account for approximately 70% of funerals in Australian metropolitan areas. So less space required.
However, there are cemeteries out there, in prime locations. On the property chat forum this is what was said in response to the question:
Would you buy a property near a cemetery?
“I worked across the road from Rookwood for a while. It was just like having a big weirdo golf course there. People walk dogs, drive through (there’s a road through!) and some even eat lunch there. I would seriously consider it knowing that it might turn some off, but not all. If stuck for somewhere to rent, I would definitely choose it over a main road or power lines.” WattleIdo
“No…. absolutely not. It is a personal choice of location that others may be willing to accept but definitely not me. Each to their own.” Indifference
“The positives a cemetery has is that it is often green and peaceful. I think a view over a cemetery can be nicer than an “in your face” apartment block.I would consider buying a unit in the blocks around the cemetery in North Parramatta, because it’s parkland with tall trees that just happens to have some headstones.Other ones…. Perhaps not. Waverley cemetery… yes, quite possibly, if the property stacked up.” bmc
“I just bought a house that is on the same road as a cemetery . Didn’t bother me personally as it’s well positioned in town.” the world is your oyster
“I would not want to live beside a cemetery. I would not buy a house opposite or within view of one either. You are asking the question, so you clearly know there are people (maybe yourself?) who wouldn’t buy or rent that close to one either. You will have a smaller pool of renters, and smaller pool of buyers when it comes time to sell.” wylie
For another perspective, in Greenwood Brooklyn Cemetery, a lady says that walking through the cemetery helps her with her depression as it provides a place of reflection and comfort.
So we have mixed opinions on whether you would buy or not buy next to a cemetery. So before answering with a straight yes or no, take out the emotion.
Put on your investor hat, asking yourself the following questions:
Other areas that may raise questions when it comes to buying:
High Traffic zones or Main Roads
High Voltage Powerlines
Higher potential for vandalism or graffiti
Pathways & Alleyways
Construction zones or anything with high noise levels
Congregation of undesirable groups, e.g. gangs
You might think you are getting a bargain, but if there is no competition, it may mean that you are paying too much. Market price is what someone (or multiple people) are willing to pay for something. More interest, often leads to higher prices. This goes for both buying, selling and renting. So ascertain current and potential interest levels on any investment you make.
Be mindful of the spin property managers give you – both in respect to the for and against arguments.
So now that you have the property, and you are looking at putting tenants in, ask yourself how would you respond to the agent’s question: How do you feel about the tenants having pets? Here’s some thoughts and facts to help you with your decision.
Luke is a buyers agent for property investors. He has extensive experience building and growing property portfolios.
Luke and the team at Search Party Property predominately buy properties across the eastern seaboard of Australia. The type of properties presented to a first, second, third + time investor are based on the client strategy – which is an essential part of working with Luke.
Buying an apartment, unit, townhouse, or duplex for example, form part of your strategy session. Whether a deal is hot or not – is always based on your investment strategy.
“One of the misconceptions around property investing is that you have to be a high flyer and have loads of extra cash. This is not the case. We work with a lot of people who are buying their first investment property at a $250K price point.“
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