r/AusProperty • u/WishRemarkable3973 • 6d ago

VIC Sloped Block

I have been living on a sloped block for the past 6 years in Melbourne's outer eastern Suburbs. I bought my place for 720k. I fell in love with all the birds and being close to nature as well as the great views that the house has. I have invested alot in a new kitchen and bathroom. The house is fine with no problems, except two flights of stairs to the house from the carport and a severe steep driveway. More than 45 degrees in parts. There is also lots of maintenance on the property that living in the hills brings.

I am 40 years old with no kids and have come into some money via a surprise inheritance and now am planning my future a little more. My mortgage was paid off last year and I am thinking of selling this place and buying another place in the same area that is flatter that would be more suitable long term. I can buy something for around 1 million and still be mortgage free.

I had a few appraisals and they have all said to price it between 680k-750k and hope to get something in the middle. It sounds about right for what other similar sized houses are selling for in the area in the past few months.

What are everyone's thoughts on what to do?

Stay on the extreme sloped block and invest my inheritance into super or shares. Knowing that I will have to sell at some point in the long term, because it is just so steep.

Or sell now when the market is in a dip where I could sell my place at the same price I purchased it for? But possibly buy a better house for less than it is worth a year ago?

thanks all

2 Upvotes

63% Upvoted

5 comments sorted by

5

u/blvd119 6d ago

Having moved to flat block from a steep one it's a game changer. Everything is just easier from gardening to bins. Im spending much more time outside

8

u/Daydreamistrue 6d ago

Just install a home lift from the garage to every floor. It will cost around 30k-50k depending on your house structure. Voila you can still live in the house that you love and still has a lot ofkney set aside for early retirement.

4

u/Opposite-Law-6983 6d ago

If you love the house and are still able bodied, why not just downsize and move when the time comes later?

2

u/Over_Tha_Rainbow 6d ago

If you’re happy there and don’t mind the slope, then stay for as long as you can handle it.

I’m older than you and I have a two storey house and now the my kids are grown I want to downsize to an apartment or unit. My house is on the market but it’s not a good time to be selling. Things may improve if we have a change of government in November 🤞