steveinbsas
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There is an 8000 mtr2 property that is for sale in the village where I live. The land can be subdivided into eleven separate lots... eight of 750 mtrs2, two of 600 mtrs2, and one of 800 mtrs2 (with an 8 x 10 mtr house). I am interested in buying 2000 meters next to this property, but I can't do both.
I have spoken with several local real estate agents and they agree that the ten lots would easily sell in the local market for $9,000 each. A 600 meter lot two blocks on the other side of the plaza was recently on the market for $12,000.The cheapest lots in town (right off the highway) are for sale for $7000 and they are deplorable.
The property for sale is in a great location...away from the highway and only two to three blocks from the town plaza. It is actually on the border of the more densely developed part of the village (side by side houses) and the campo where houses have more land area (such as mine....less than one KM down the street from this property). There are a number of shops within walking distance and the police station is exactly 2.5 blocks from the house.
I estimate the total cost of buying (with commission, taxes, and fees) and subdividing the 8000 mtr2 property, as well as recycling (and enlarging) the existing house with decent quality materials to be about $85,000. The price of the land is $60,000.The buyer could also wait until after the sale of one or two of the lots to begin the remodeling work, reducing the initial investment. I suggest selling the lots through local agents (the 2% commission is worth it).
If a six meter "lane" is created in the center of the property (with four 750 meter lots on each side) the project would have the feel of a mini barrio privado and I think that could expedited sales. It isn't necessary to live here to do this. I will be happy to help with the remodeling of the house as I will have workers next door (converting two older buildings to storage for building materials and boats). After living here for a year I know who to hire and where to buy materials at the best prices.
The village is 20 minutes from the Bahia Blanca airport and I can meet anyone who would like to fly down from BA for a day (or two) to view the property and see the area. The flight from BA to Bahia Blanca is just over an hour. If anyone has any questions please ask them here or send me a PM.
I have spoken with several local real estate agents and they agree that the ten lots would easily sell in the local market for $9,000 each. A 600 meter lot two blocks on the other side of the plaza was recently on the market for $12,000.The cheapest lots in town (right off the highway) are for sale for $7000 and they are deplorable.
The property for sale is in a great location...away from the highway and only two to three blocks from the town plaza. It is actually on the border of the more densely developed part of the village (side by side houses) and the campo where houses have more land area (such as mine....less than one KM down the street from this property). There are a number of shops within walking distance and the police station is exactly 2.5 blocks from the house.
I estimate the total cost of buying (with commission, taxes, and fees) and subdividing the 8000 mtr2 property, as well as recycling (and enlarging) the existing house with decent quality materials to be about $85,000. The price of the land is $60,000.The buyer could also wait until after the sale of one or two of the lots to begin the remodeling work, reducing the initial investment. I suggest selling the lots through local agents (the 2% commission is worth it).
If a six meter "lane" is created in the center of the property (with four 750 meter lots on each side) the project would have the feel of a mini barrio privado and I think that could expedited sales. It isn't necessary to live here to do this. I will be happy to help with the remodeling of the house as I will have workers next door (converting two older buildings to storage for building materials and boats). After living here for a year I know who to hire and where to buy materials at the best prices.
The village is 20 minutes from the Bahia Blanca airport and I can meet anyone who would like to fly down from BA for a day (or two) to view the property and see the area. The flight from BA to Bahia Blanca is just over an hour. If anyone has any questions please ask them here or send me a PM.
