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Thanks for the reply bellz, makes sense

Thanks Leo, makes sense

Hi Leo, curious as to why you suggest 500sqm? I was under the impression 405sqm was a standard block, and 600sqm was the minimum required for developing if LMR zoned? 500sqm strikes me as an odd size requirement

Reviving an old thread, but I am in a similar position to the OP. We've just received notification of registration of the survey plan for our OTP apartment, triggering our 21 day settlement clause. Our solicitor has sent us a Buyer Enquiries Search List to complete for searches we would like...

Hi jerrybee - once you've narrowed down the properties/streets you're intereted in, how do you keep tabs on when they come to market? Do you just search new listings on RE.com, keeping an eye out for properties on your watchlist?

Right click on the page (in the text description), click 'View source', then ctrl+f and search for 'price'. This is what you're looking for: data-param-price="500k_600k"

What's the process for PPOR loans that are turned to IP loans in the future? We are in the process of getting a 75% 3yr fixed / 25% variable with offset loan for our first property (PPOR). It will be IO with 89% LVR and we intend to live there for 12-18 months. Once it's converted to an IP at...

If a loan is taken out for a PPOR, but converted to IP further down the track (say, 12 months time) will the discount still apply? Furthermore, can an offset account still be used for a PPOR loan with the rate discount?

Thanks for the link Terry - very handy.

windyzz, Peter - is it only certain banks that have that policy or will all revalue OTP at current market value after 12 months of signing the contract on settlement? Reason I ask is that I am about to settle on an OTP apartment in Brisbane that we signed the contract on just over 12 months...

Thanks again Terry. Hi ZachAnSel - with regard to paying down non-deductible debt, as our HELP debt is adjusted in line with CPI and our car finance is @ 1%, would it not be better to put excess cash into the offset account as it would effectively be earning ~4.x%?

Thanks Terry. May be selling ourselves a little short regarding CG. I believe we bought a good product in a good location at a good price, and should have benefited from growth over the past 12 months. Whilst there will be some saturation in the market moving forward, I expect we will still make...

Hi guys, Bit of a follow-on from an earlier topic I started regarding our first purchase (link). Bit of a read, but I?m hoping to get other comments/criticism/advise on the direction we?re hoping to take. Current situation; OTP 1/1/1 apartment at Kelvin Grove will be completed in the next...

I've been having a bit of a look recently at the Stafford / Stafford Heights area. Although it does have a lower socio economic demographic, there are certainly some more desirable pockets. I feel the lower comparative price to some of it's neighbouring suburbs makes it reasonably good value...

Congratulations evan1875! Will be following your thread with interest. Can I ask what the zoning is for the block? Looks to be quite a high GFA from my limited knowledge.

Hi Thunder, My initial, inexperienced opinion is that your contingency is very low. For a first development I would feel far more comfortable with an 8-10% contingency. Congratulations on taking on your first development and good luck!

So in line with City Plan 2014, there is no minimum lot size for a dwelling house (small lot), so long as it meets the 9.3.8 Dwelling house (small lot) code and any relevant neighbourhood plans and/or overlay codes?

It's in Kelvin Grove, development by CS Development Group. We paid $359k and ended up pulling together the deposit instead of using a deposit bond. They're about halfway through the structure, so hoping for an April/May completion.

Keep in mind the upgrade of KSD over the next 3-4 years - major traffic disruptions and construction.

Thanks for all for the replies. Since my initial post, we?ve actually put a holding deposit down on an OTP apartment and are expecting the contract through tomorrow. We?ve taken all the comments on board; many of which reinforced our own thoughts, but the numbers stacked up for us with this...