Another Bargain in Toogoom beach

J

james_w

I have said it before and I'll say it again why the heck is this place so cheap

http://www.realestate.com.au/property-house-qld-toogoom-106532447?activeSort=price-asc

toogoom has beautiful beach
beachfront restaurant

public transport to hervey bay
good schools a few mins drive

cheap direct flights to bris/syd etc from the airport

a few mins walk to the beach from just about any house

and pretty fast growth to hint river heads sat stagnate for a little while then jumped 40% in a year and it has no competetion on toogoom toogoom beacheas actually exists and the sandies aren't nearly as bad:p

forgot to mention the 40% jump in river heads was during the GFC :p
and is similar distances to shopping centres etc in hervey bay

this house is way under what it would cost to be built

the next cheapest for this type of home is 315k which is still a bloody bargain look it up yaself

you think you can build this for less including everything and land contact me I'll buy em;)
 
G'day James_W,

This area is close to some nice beaches but until the area becomes owner occupied it is a bit run down.

The majority of the tenants in the area rely on centrelink benefits.

River Heads is also a nice location but those median prices were due to low sale volumes and and some houses selling cheaply in Turtle Cove which is the more expensive area of River Heads.
 
Risky Business said:
G'day James_W,

This area is close to some nice beaches but until the area becomes owner occupied it is a bit run down.

The majority of the tenants in the area rely on centrelink benefits.

River Heads is also a nice location but those median prices were due to low sale volumes and and some houses selling cheaply in Turtle Cove which is the more expensive area of

River Heads.
Click to expand...

You got to agree this is way to low of this type of house

as I am sure your aware what this house would cost to be built in

northshore ave and rent should be at least 300week

toogoom does not have a shortage of renters I know 5 people off hand that work that would move here tommorow if the right house came up
3 of them used to live here but they can't afford the rent guess centrelink recieptants earn alot these days.:

My mother in law is moving back here in 2 weeks

oh she's on centrelink though I wouldn't rent to her for the simple fact she is my mother in law lol
hence I only have 1 house here the rest are no where near here but she has always been a good payer with bills doesn't drink/smoke etc.

btw when I first moved here in 1999 most of the houses were OO it has alot more stuff close by and the transport to hervey bay etc
which it never used to have and it certainly has grown I

remember when I first got here all fraser waters was bushland same as 12mile beach etc and that was only 10 or so years ago oh land was 25k then to lol

and that was listed property private deals could be had for cheaper so going by the 25k a block 10 years ago and the cheapest at 125k today and they are pretty rare but will take the lowest priced block means land has gone up 500% in a less then 10 years it's been at the current price for awhile now actually a few years ago the cheapest block was 135k listed I know I bought it stupid GFC:p

I also know of a few workers from cq keeping an eye on the place.

And who cares if the renters recieve centrelink most of em are pensioners and pretty good with there rent anyway just ask for cpay to be more secure they don't even see the money then goes right to you or your agent.

I had a rental to a a few blokes promised massive rents etc by room type of setup and they made over 100k a year

house was trashed rent always behind.

renoed it and rented to a single parent pensioner and she hasn't missed 1 payment in the last 2 years and house is tidy and no it was no where near toogoom.

and I do whish some more OO would open there eyes and see toogoom is not out in the sticks think your out in the sticks go live in blackall,barky etc drive hours to any beach and don't forget to boil the bore water

7mins from major shopping/schools etc with direct transport is far from out in the sticks...

not to mention most houses are a few hundred metres to the beach

and let's be honest most old forumnites know I own a home here and I would loose tens of thousands with the prices of these houses are being sold for so just buy em already lol or take em off the market

I bet this one is bought within a week
the last one was but the poor owner in oyster court has dropped there's to 315k and still not sold over a year later who ever is selling these is taking a big loss or got a major discount we all know what these houses cost.
 
Last edited:
I'm with you James_W. Toogoom and the Hervey Bay region offers great value for money PPOR.

Toogoom is a beautiful place and I visit there regularly. The problem with government funded tenants is that their incomes are not increasing. If they don't earn more, they can't pay more.

Pensioners can be great tenants, as long as the rental market is in the $220-250 range.

Northshore Avenue and Swanview Drive are not desirable streets in my opinion. I have met a few undesirables renting in the street.

I am also aware of some lakeside blocks which recently sold very cheaply.

An increase in owner occupied residences would change the feel of this area and its presentation.

I have previously bought in the Hervey Bay area. Where else could I buy a QLDer with decent ocean views for $265k? In hindsight though, it has cost me alot of money to hold.

Thanks for your input James_W. It sounds like we are scanning the same regions for properties. Best of luck mate.
 
Risky Business said:
I'm with you James_W. Toogoom and the Hervey Bay region offers great value for money PPOR.

Toogoom is a beautiful place and I visit there regularly. The problem with government funded tenants is that their incomes are not increasing. If they don't earn more, they can't pay more.

Pensioners can be great tenants, as long as the rental market is in the $220-250 range.

Northshore Avenue and Swanview Drive are not desirable streets in my opinion. I have met a few undesirables renting in the street.

I am also aware of some lakeside blocks which recently sold very cheaply.

An increase in owner occupied residences would change the feel of this area and its presentation.

I have previously bought in the Hervey Bay area. Where else could I buy a QLDer with decent ocean views for $265k? In hindsight though, it has cost me alot of money to hold.

Thanks for your input James_W. It sounds like we are scanning the same regions for properties. Best of luck mate.
Click to expand...

Yeah no probs not sure what you mean by undesirables
I am 6 1 have lots of tatts and about 120kgs

I haven't rented in 6years though so I guess I wouldn't know if I was a undesirable tenant when we did rent we always paid kept the house/yard tidy always paid rent on time or just in front we also rented through local rea so the landlord prob had no idea what we looked like.
I don't usually have much problem with renters not that I would know in toogoom.
Some of my houses are in the rocky outskirts not in toogoom.

I also have walked down both swanview and northshore ave never had any problems in either street I have been almost mugged in rocky though and witnessed a ram raid in yeppoon at mitre 10. NorthShore is bloody close to the beach and lake though.

I am scanning everywhere atm but yep keeping a close eye on hbay/mborough outskirts

as I only have 1 outside marybrough and thinking of getting more close to home.
 
Last edited:
Gee would someone buy this already so sick of seeing cheap deals like this in toogoom

1. it's almost new

2. it's like 100mtres to the lake and beach

3. it has public and school buses to hbay which is 13mins away

4. it's 289000 you would be hard pres to get a 3 bedder for this here

5. vendors selling at a 50k loss
 
go search rentals and how long they have been on..i wouldnt touch the place currently with a barge pole...........its cheap for a reason............plenty of bargains there if you want a sea change but the place is not exactly that flash.....unemployment is high...you would want to really look long term to make a dollar out of anything there in my opinion...........vacancy rate would be an issue for any rental there i guarantee.

look elsewhere...yeppoon, kinka beach, emu park, zilzie if you want something decent...
 
csc2 said:
go search rentals and how long they have been on..i wouldnt touch the place currently with a barge pole...........its cheap for a reason............plenty of bargains there if you want a sea change but the place is not exactly that flash.....unemployment is high...you would want to really look long term to make a dollar out of anything there in my opinion...........vacancy rate would be an issue for any rental there i guarantee.

look elsewhere...yeppoon, kinka beach, emu park, zilzie if you want something decent...
Click to expand...

I think James is correct and as he keeps saying,this is a bargain for a "PPOR" only,imagine owning this house and the lifestyle it would give you,
I know for a fact that this house is around $1200-$1500 a metre to build as I built in a similar area two years ago at $1300m2 ,if it is around 200 m2 as I think it would be, that means cost to build price is around 240,000 to $300,000 and then the land at $145,000 purchased back in 2006 plus fit out,floor coverings etc.
Definitely adds up to more than the $289,000 asking price.

Trouble is who has $289,000 just lying around at the moment?

I might,but I am keeping it for a real " Real " Bargain ;)
 
Pa1nter said:
Huge difference Nathan,
The one you picked is three bed,2400 ceilings,standard budget build for around $900m2,the other is architectural design,high ceilings 4 bedder,worth around 80K more IMHO
Click to expand...

exactly my point painter and the blocks were a bit more then 145k when this was built less then 2years ago was built around 2008 and these were selling at 400k+ ppor it's a bargain my house cost more then there asking heck I would sell and swap in a heart beat if I could.
 
Last edited:
csc2 said:
go search rentals and how long they have been on..i wouldnt touch the place currently with a barge pole...........its cheap for a reason............plenty of bargains there if you want a sea change but the place is not exactly that flash.....unemployment is high...you would want to really look long term to make a dollar out of anything there in my opinion...........vacancy rate would be an issue for any rental there i guarantee.

look elsewhere...yeppoon, kinka beach, emu park, zilzie if you want something decent...
Click to expand...

I visit yeppoon regulary this house in yeppoon etc would be 500k+

and the reality is yeppoon is a small town with what 1 woolies and a diminishing bilo.

hbay has 4 woolies more schools, etc the only thing driving yeppoon is the bowen basin mines plenty buy here when they retire hmm 500k for a ppor in yeppoon or under 300k in hbay whith a nicer beach.

Don't get me wrong I am from out west and yeppoon was my favourite beach untill I seen the beaches and sea turtles etc this way.

hate to say it but yeppoon really isn't doing that flash either same as everywhere a few years ago you couldn't buy a block under 200k I know of one for 99k atm. and friends of mine pruchased one in estate orignially at 175k for 135k.
 
james_w said:
I visit yeppoon regulary this house in yeppoon etc would be 500k+

and the reality is yeppoon is a small town with what 1 woolies and a diminishing bilo.

hbay has 4 woolies more schools, etc the only thing driving yeppoon is the bowen basin mines plenty buy here when they retire hmm 500k for a ppor in yeppoon or under 300k in hbay whith a nicer beach.

Don't get me wrong I am from out west and yeppoon was my favourite beach untill I seen the beaches and sea turtles etc this way.

hate to say it but yeppoon really isn't doing that flash either same as everywhere a few years ago you couldn't buy a block under 200k I know of one for 99k atm. and friends of mine pruchased one in estate orignially at 175k for 135k.
Click to expand...

you seriously cant compare the capricorn coast with toogoom area??

im not talking about hervey bay, the capital of pensioners and dole bludgers, just toogoom which is what the thread is about.

you will make a far better capital gain in yeppoon long term than toogoom............everywhere is quiet currently no question but unlike toogoom where prices have slid badly, yeppoon on the whole has held its ground to date quite well.
 
csc2 said:
you seriously cant compare the capricorn coast with toogoom area??

im not talking about hervey bay, the capital of pensioners and dole bludgers, just toogoom which is what the thread is about.

you will make a far better capital gain in yeppoon long term than toogoom............everywhere is quiet currently no question but unlike toogoom where prices have slid badly, yeppoon on the whole has held its ground to date quite well.
Click to expand...

Toogoom is 13mins from hervey bay, we'll see in 10yrs point is it's a damn cheap ppor under what it would cost to build

You can't compare yeppoon with hbay it's alot bigger then yeppoon

it's also close to the sunny coast etc unlike yeppoon



The thread is about a beachside ppor bargain close to shops transport and lots of shops oh and good schools etc I have lived in yeppoon
I like toogoom better and so do others from yeppoon.

land from 175k to 135k and 99k there isn't one block in toogoom for 99k same can't be said for yeppoon I am well aware what happened in toogoom with rpc etc. which is what slumped the area, I never said I wouldn't buy in yeppoon but I am damn sure you can't get a home like this for under 500k in yeppoon, never lone under 300k I am well aware of the yeppoon market,

and umm if I remember correctly zilzie sold a bunch of units at a huge loss not so long ago.

so there is no dole bludgers/pensioners in yeppoon cmon lol it's full of em.

I reckon in 12months that that the house I have posted cost at least $350,000 or more to buy. which it should as it cost more to build.

point is this home is 289k the next cheapest 4 bedder 2 bath house in the area and it doesn't have the same features is 319k

last sold one 420k-490k

http://www.realestate.com.au/property-house-qld-toogoom-106303256

sold in april this house is around the corner....
 
Last edited:
i understand what you are saying james, each to their own....i wouldnt touch that house with a barge pole, even at its current price unless you were looking very long term..............short term, 12-18 mths, no chance in my opinion of making a decent capital gain.

do some reseeach on yeppoon...next 25 years it will have almost the population of rocky.there are some huge developments in the pipeline for the area.......

as for zilzie.....the area where the artificial golf course is, i wouldnt buy there.....old zilzie area, yes, kinka beach area, definitely worth the effort to look when the market settles for long term growth..

best of luck..
 
csc2 said:
i understand what you are saying james, each to their own....i wouldnt touch that house with a barge pole, even at its current price unless you were looking very long term..............short term, 12-18 mths, no chance in my opinion of making a decent capital gain.

do some reseeach on yeppoon...next 25 years it will have almost the population of rocky.there are some huge developments in the pipeline for the area.......

as for zilzie.....the area where the artificial golf course is, i wouldnt buy there.....old zilzie area, yes, kinka beach area, definitely worth the effort to look when the market settles for long term growth..

best of luck..
Click to expand...

Place is 50k under replacement, like I said be good for a ppor and it would costs approx 1500 sqm it's over 200sqm I have looked at the place.

similar home sold for 315k last week that was a 3 bedder and smaller.

so seems it should have some instant equity compared to the most recent sales in the area for these types of homes a 4 bedder sold for over 400k

Hervey Bay is one of the fastest growing areas in australia right now,

and the closest woolies to toogoom is 13mins schools closer

herveybay has a lot more shops then yeppoon and always will it took several years just to get a woolies in yeppoon and bilo is now suffering and most locals still go to rockhampton for thier shopping.

on the flip side there is some good opps in yeppoon atm but none I have found like this yeppoon.....

I have a house in toogoom and it would cost 350k to rebuild as in my estate the land is 160k bigger blocks.

I am also pro yeppoon, just no one in yeppoon would sell there house like this for a similar price considering it would cost quite a bit more to build in yeppoon, I actually like outskirts of rocky better for invesment purposes though...
 
You must log in or register to reply here.

Similar threads

J
Toogoom, hervey bay qld
Replies
4
Views
911
james_w
J
redwing
Where are the bargain properties?
Replies
4
Views
3K
jaycee
jaycee
Ruby
The keithj Interview
Replies
0
Views
13K
Ruby
Ruby
Back
Top