Just thinking out aloud, and interested to see what other people would do / think.
If you have a 550sqm corner house, that has the "location" in a good suburb close to city i.e. is a couple of blocks from shops, transport & school, great views, but the only thing lacking is outdoor space for the kids, would you trade up to a fully renovated house with a bigger (say 900sqm) block that is further away from shops and transport, no views, and still in quite a good suburb?
The other option would be to demolish, but when you start messing around with foundation, I'm afraid of the troubles / headaches that would arise....esp from a solid brick house.
Or....would you wait for the neighbour's house to sell and merge it into one title and be left with 1000sqm? which leads me to another question.... would you buy your neighbours house in order to extend your land size?
Just curious to hear some thoughts