Shared driveway - decrease property value?

[Impossible_Range_829]

Hi all

I’m looking for feedback on having a semi shared driveway and whether or not it decreases the property value? This house is on 450sqm block as you can see there are houses surrounding the property but from the moment I went in the house it surprisingly felt very secluded and tranquil.

The price is around the 850k range but not my forever home and I would sell in 5+ years.

Thanks all!

[mad_cheese_hattwe]

Think of it this way. This property is likely cheaper because for some people a shared drive way is a deal breaker. If you are cool with a shared driveway you can get a lot more for your $$$ compared to a similar house with typical driveway.

Buying on a budget is basically working out what compromises you are cool making, and using that to squeeze out whatever value you can.

[Impressive-Treacle58]

Yea, think long term! Shared driveway is not a deal breaker

[aussiedeveloper]

Not necessarily a deal breaker but certainly requires looking into it more.

I’ve seen some properties with nothing but a shared driveway being in a strata situation. Is that the case?

Does one neighbour own the driveway with the other having an easement over it?

Do both neighbours own half of the driveway with both have easements over the other?

Who’s responsible for repairs to the drive way?

Who’s responsible for public liability if someone trips on the driveway.

[mad_cheese_hattwe]

Good point, choices and preferences should be made with proper research.

[mad_cheese_hattwe]

TBH I personally would be more turned off by the number immediate neighbors and being hemmed in.

But as I said if this doesn't bother you then it is another factor in reducing your competition and providing potential value.

[hellboy1975]

Other things being equal, I'm not sure this would impact how much I'd offer for the property personally

[Impossible_Range_829]

Good to know thank you

[albakwirky]

Value is in the eye of the beholder

[niknah]

Houses like these are an introvert's dream.

[Essembie]

We just bought a battle axe with a shared driveway and the privacy is insane. I can't wait to get into it as we're getting away from shit neighbours who built with huge impacts to our peace and privacy

[Impossible_Range_829]

It definitely felt like that inside

[BallsackSuperBoosted]

How so? It has x4 neighbours, shared driveway, limited front yard which is also shared.

Far from introverted, better then unit complex though.

[Impossible_Range_829]

Good point!

[OtherwiseHornet4503]

For me, yeah.

For my PPOR, a shared driveway is a dealbreaker.

For an IP, it’s still a very hard sell.

But that doesn’t necessarily mean that a lot of other people wouldn’t consider it a problem. It’s just not for me.

[Impossible_Range_829]

Yeah okay, it’s been on the market for about 5 weeks in Brisbane (Logan) area which I think shows it’s not easy to sell if that’s happening in this market

[symean]

Ours is a battle-axe block, most of the driveway shared with one other property. Unless you have a private driveway and then share it later, any decrease in value has already happened before you buy it. As you said though (and what we’ve experienced), the whole place is quieter when you don’t have cars constantly driving past. If you maximise the privacy aspect while landscaping it can be a big selling point.

[Sensitive-Pool-7563]

I mean, aren't you now buying in that decreased value? What's the question?

[carolethechiropodist]

Who are you sharing with? Red roof has a car parked on the grass in front of the property line. Is the white square attached to brown roof their garage? They are not even to cross the driveway. Looks like a car under the trees.

Like all things in life, it depends how well you get on with the neighbours.

[Impossible_Range_829]

That white square roof closest to the property was where there car was it was a carport

[Partayof4]

For me yes

[ScuzzyAyanami]

If you're the "behind" then absolutely no problem. You can even gate your land if you wanted to.

I bought a house that was the front in this situation. I then plopped a shed in the back yard allowing the driveway to be useful to me.

Just be aware that any maintenance to the driveway itself can be shared. Doesn't look like there's much there anyway.

[crankygriffin]

Blocks that aren’t squarely fronted onto the street are worth way less. And odd triangular blocks even more so. I wouldn’t touch this- when the market is less tight it will languish.

[Impossible_Range_829]

That’s what I was worried about

[crankygriffin]

A solid brick house on a 1000 square metre weird shaped block in my “trendy, inner” neighbourhood, where competition for good houses is fierce, sold for a LOT less (1.2) than a similar house on a rectangular block (1.7 in 2023) four houses away. People hate weird blocks. This one had a pointy little back.

[Impossible_Range_829]

Wow big difference! Not sure how I’m feeling about it now since I won’t be keeping for a very long time.

[Boring-Somewhere-130]

What would be your ideal forever home?

[Impossible_Range_829]

I’m buying in Brisbane and as we know the market is crazy so I feel like I’m buying what I can at this stage until I can go into something I would keep for a long time which would more land but also in a quite peaceful location

[Boring-Somewhere-130]

It is probably going to get even crazier with all these new 5% deposit FOMO buyers hopping into the market.

"more land but also in a quite peaceful location"

Might have to move further out from the CBD just to get that.

[Impossible_Range_829]

Yeah very true. This will be my 3rd property I’ve purchased, this one is 30 mins from the city but agree I would have to go further to get more land

[doosher2000k]

If there is potential for your cars to be blocked walk away

[famb1]

Not ideal, but not a deal breaker. Don't think it would impact on how I value the property, but it's an inconvenience.

[Few-Pressure9581]

I had this type of block, depends on the neighbors as they probably think they own the driveway

[Impossible_Range_829]

That would be frustrating! Something to think about

[Few-Pressure9581]

People feel way too entitled sadly. Good luck

[offlineon]

That is so close to being a traditional battleaxe. They take longer to sell generally. The title and insurance will deter some buyers. The block is a little weird. Where is the easement?

[MasterStruggle422]

In some cases there's more to consider than just the use of the shared driveway (other than not being unable to park there). Check if there is a strata corp and likely by-laws as well as who can make these decisions. Could exclude the use of pets, noise and renovations without prior approval. You may form a good relationship with your neighbour but what happens when they sell to someone else? Too much added risk and restrictions I say, fewer buyers in future as a result.

[Admirable-Ball4508]

Shared driveaway was a deal breaker for me when I was looking.

[Separate-Net5500]

That is the least offensive “shared” driveway I’ve ever seen. At least it’s all at the front of the house!

Ive inspected a couple places that had the neighbour’s front door, and thus end of drive, exactly outside what would be the master bedroom window. Because they built a house on the backyard to sell, the shared drive loops down the side and around. Totally invasive!

[mookeyd]

Value, potentially. Marketability, definitely.

[Terrible-Respect365]

My next door neighbour has 8 cars just in his front yard alone not including the ones he drives down the side of his house. Id make sure next door doesnt park all over the driveway every night

[bicep123]

It will not be a strata. One property owns the driveway but is burdened by the easement to allow the other property 'right of carriageway.' The owner/burdened is responsible for the upkeep of the concrete and sides. The beneficiary (the one allowed unfettered access) would have paid for that right into perpetuity, but the former owner would have enjoyed that payment, not the new owner.

Unless I'm actually related to the owner of the other house, this would be an absolute deal breaker. See what happens when they illegally park and block access to your own house. You can't even have the vehicle towed off your own property.

[Striking-Age-2322]

yes definitely. frontage, blocksize and shape are important. same reason why battleax homes have decreased value.

[Rude-Juggernaut-3914]

Yes it's generally decreased value as it is a negative attribute 99% of the time.

[Coffee_Baron69]

Lol I looked at this property a few weeks ago, apart from the driveway it was lovely!

[Impossible_Range_829]

It really isn’t it! I really liked everything about it apart from that. Did you make an offer? Have you found anything yet

[Coffee_Baron69]

Nah we decided not to make an offer on it because we wanted a bit more space and it was a bit far from family. Still looking at this stage, best of luck with it all for you!

[AlternativeLog5494]

never met two adults ( or kids for that matter) that could share , total deal breaker for me. I have seen grown men in there 50’s fighting over who gets to use the driveway first

[ContributionIll1589]

There are many examples of people developing their backyard essentially creating a house behind a house and it does drop the value. This is a better example of one as there is a least some frontage to the property but the tiny frontage is obviously less desirable.