What Could Your Property Become? 5 Signs a Site May Have More Potential Than You Think

When looking at an established property, it is easy to focus on what is already there: the house, its condition, the number of bedrooms, the floorplan and what could be renovated or improved.

But sometimes, the greatest potential isn't in the existing building at all.

For property owners and investors, taking a step back and looking at the site as a whole can open up a very different set of possibilities - including a knockdown rebuild or a new development designed around what the block can accommodate.

Here are five signs a property could have more potential than you might initially think.

1. It's on a large block

A sizeable block of land can offer opportunities that aren't immediately obvious when you're standing inside the existing house.

The current home may occupy only part of the site's potential, or its position, layout or design may not make the best use of the available land.

Rather than asking whether the existing house can be improved, it can be worth considering what could be achieved if the site were designed from the ground up.

Our multi-dwelling project on Oxley Highway in Port Macquarie was originally a single house on a large 3913m² block. This gave us plenty of room to construct 13 new dwellings.

Depending on the zoning, planning controls, site characteristics and other requirements, this could include a new single dwelling, dual occupancy, duplex or another form of residential development.

2. The home is outdated, but the location is desirable

An older or tired property doesn't necessarily mean the site has limited value.

In fact, an established property in a desirable location can be an interesting opportunity - particularly when the land itself has characteristics that lend themselves to a new development.

You can't change the location, but you can change what sits on the site.

Our Cross Street project (pictured below) originally had a very old single dwelling on a block situated in a central location in Port Macquarie - close to the CBD, close to popular beaches, on a tucked-away street - so whil he existing home wasn’t worth rectifying, he block itself was in a very desirable location.

A knockdown rebuild can provide an opportunity to replace an outdated dwelling with a purpose-designed property that is better suited to the site, the surrounding area and your objectives.

For investors, this could also mean creating a property designed from the outset around factors such as tenant appeal, durability, low maintenance and efficient use of space.

3. The property has good access

Access is one of the practical considerations that can make a difference when assessing a potential development site.

How vehicles enter and leave the property, the position of the existing driveway, street frontage and the relationship between the site and surrounding roads can all influence what may be possible.

Good access doesn't automatically mean a property can be developed, but it can be a useful starting point when investigating its potential.

This is where a proper site assessment becomes important. Before making assumptions about what can be built, the property's planning requirements and physical characteristics need to be understood.

4. There are other developments nearby

Look around the neighbourhood.

Are there new duplexes, townhouses or other multi-residential projects appearing nearby?

While neighbouring developments don't guarantee that a particular property can be developed in the same way, they can provide useful context when you're assessing what is happening in the area.

They may also prompt a more important question:

“Could this property be capable of something different from what is currently sitting on it?”

An old vacant building (originally a bucher shop) in the growing town of Wauchope will soon be replaced with new residential dwellings to bring desirable use to the neglected land.

Understanding the planning controls that apply to your particular site is essential, but looking at the broader development pattern can be a valuable part of the initial conversation.

5. You're looking at the house - not the site

Perhaps the biggest sign of untapped potential is simply the way you're looking at the property.

When you walk through an existing house, it's natural to think about kitchens, bathrooms, extensions and renovations.

But if you're considering a property as an investment or development opportunity, it can be useful to step outside and look at the bigger picture.

“What is the land capable of?”

“Where is the existing building positioned?”
“How much usable land is available?”
“What does the street frontage look like?”
“How could the site be configured differently?”
“What type of property could make better use of the land?”

The answers won't always point towards redevelopment. Sometimes the existing home will be the right option.

But sometimes, starting again could make more sense than trying to make an existing building fit a site it wasn't designed for.

From Existing Property to New Possibility

A knockdown rebuild isn't simply about replacing an old house with a new one.

For the right property, it can be an opportunity to rethink the entire site.

At Morr, we work with investors and property owners across the Mid North Coast to bring residential projects from concept through to construction. Our in-house building designers can help explore how a site could be approached, while our team manages the building process from design and approvals through to completion.

That could mean a new dwelling designed specifically for the block, a duplex or dual occupancy project, or another multi-residential opportunity.

Of course, every site is different. Zoning, planning controls, site conditions, access and project requirements all need to be assessed before determining what is possible.

That's why the first conversation shouldn't necessarily start with “What can we do with this house?”

Sometimes, the better question is:

“What could this site become?”

If you have an established property you're considering developing, we're happy to help you look at the possibilities.

Talk to Morr about your next knockdown rebuild or residential development project.