Beechboro V Marangaroo

I've been looking for a little over 2 months now, and with a budget of ~380k I have narrowed it down to the area between beechboro & marangaroo (incl Ballajura, Alexander Heights, Mirrabooka).

I would have liked to have gotten something a little closer to the City & River, but areas like Eden Hill & Bassendea seem to have run over 400k mark before my eyes, although there are still a couple that creep near the 390k mark from time to time.

The question I have for you guys... would it better to buy something smaller (450-500m2) in somewhere like Eden Hill or Bassendean?.. Or am I worth spending a little bit less ($360-$390) in order to get a decent 750m2 block in Beechboro (closer to Beechboro Rd, not Altone). I am more interested in the Beechboro concept at the moment but am keen to hear your opinions, fire away...
 
I'm often careful with Kiara though, it is mighty close to Lockridge. I know beechboro isn't much further away, but when we're talking lockridge, every metre counts doesn't it?

And you brought up a great point with the maintanence of the bassendean properties. It might look ok, and you might bring it back to life with a lick of paint... but it's in a year or two when things may come undone.

something like this for example, at least it's brick. I live around the corner so I've had a chance to look at it in the flesh and it ain't as bad as it looks.
http://www.realestate.com.au/property-house-wa-bassendean-106616761
 
Being a resident of Ballajura myself (though not a tenant) I'd probably advise against it. The public transport is awful, as is the highspeed internet availability - things tenants love.

Marangaroo probably has better access to freeway into the city, and is surrounded by some better suburbs. Beechboro/Ballajura are sorta just slotted in the middle. I'd probably look more toward Bassendean / Eden Hill if I was looking in this region as they are slightly closer to city and have train station access. Prob also develop / reno prospects?
 
who cares if it's brick?

insulated framed houses are so much nicer to live in - and considering most people re-clad them, it's very easy to do.

marangaroo have some f_ing STEALS in that suburb - seriously, below replacement cost, that's for sure.

I really like Eden Hill but if it's outta budget then it's outta budget. good reno and poss. subdivide potential.

if land size is the issue, then go with the land size, if location is the issue, go with that.

also look at the city of wanneroo/joondalup re-zoning proposal - strategic parts of marangaroo may be included.

i don't like Beechboro/ballajura - too east for me. s'okay if your family is out that way or you work out that way though, but i've never been one for buying a house just because it's close to work.
 
Who cares if it’s brick? The person buying & living in the house :)
And yep, Marangaroo is looking very good at the moment, don’t know why I didn’t click to it earlier.

The main reason I’m looking in Beechboro is because I lived in Ballajura for over 10 years, and now in Bassendean. It just so happens that Beechboro is smack bang in the middle and wouldn’t seem out of the way for me right now. Although it’s not exactly the mindset of an investor huh…
 
I'm often careful with Kiara though, it is mighty close to Lockridge. I know beechboro isn't much further away, but when we're talking lockridge, every metre counts doesn't it?

And you brought up a great point with the maintanence of the bassendean properties. It might look ok, and you might bring it back to life with a lick of paint... but it's in a year or two when things may come undone.

something like this for example, at least it's brick. I live around the corner so I've had a chance to look at it in the flesh and it ain't as bad as it looks.
http://www.realestate.com.au/property-house-wa-bassendean-106616761
Yer but did you notice the basin in the bathroom is the nicest part of the bathroom, but there's a leak in the plumbing so vanity would need replacing. + plumbing repairs + shower is either not sealed or plumbing probs behind that. The aircon smells stale - like old ashtray or something. Not sure if windows slide as they are all keylocked.
 
Just got back from 2nd inpection Bassendean- has potential - but you'd need to budget extra $$$.

Kiara's good because it has lots of cul-de-sac's. Lockridge people aren't allowed to cross Altone Road, ha,ha.

Kiara is very low crime. And Morley side is more popular.
 
Yer but did you notice the basin in the bathroom is the nicest part of the bathroom, but there's a leak in the plumbing so vanity would need replacing. + plumbing repairs + shower is either not sealed or plumbing probs behind that. The aircon smells stale - like old ashtray or something. Not sure if windows slide as they are all keylocked.

haha you just saved me half an hr. For that, I thank you.
 
Just got back from 2nd inpection Bassendean- has potential - but you'd need to budget extra $$$.

Kiara's good because it has lots of cul-de-sac's. Lockridge people aren't allowed to cross Altone Road, ha,ha.

Kiara is very low crime. And Morley side is more popular.

Not to mention the awesome food hall.
 
Just got back from 2nd inpection Bassendean- has potential - but you'd need to budget extra $$$.

Kiara's good because it has lots of cul-de-sac's. Lockridge people aren't allowed to cross Altone Road, ha,ha.

Kiara is very low crime. And Morley side is more popular.

Hi INVSTOR
as you live in the area Bassendean, do you think there is opportunity to do renos and onsell for reasonable profit, 20%. I have seen some low mid $400K weatherboard cottages at this price. RE agent stated that if you purchase at land value there is money to be made. I have no idea, as have not researched yet, but will do. Am Interested on your thoughts.

It would be great to do a couple of these a year if they stack up.

Cheers, MTR
 
Hi MTR, I've done limited research but it does look like an area for potential to do reno's to me. I think it will achieve good growth in the future, and nicely renovated properties sell for a premium.

Developing could be worth getting into too. Land is getting more scarce there, and should benifit from Ashfield redelopment.

Land is worth about $320-330k per block.

This property could be bargain buying???
http://www.realestate.com.au/property-house-wa-bassendean-106555518
 
Hi MTR, I've done limited research but it does look like an area for potential to do reno's to me. I think it will achieve good growth in the future, and nicely renovated properties sell for a premium.

Developing could be worth getting into too. Land is getting more scarce there, and should benifit from Ashfield redelopment.

Land is worth about $320-330k per block.

This property could be bargain buying???
http://www.realestate.com.au/property-house-wa-bassendean-106555518


Thanks INVSTOR
I will continue to do more research and I will let you know what I come up with.

Cheers, MTR
 
How much would you be looking to spend on the reno itself though?

We live in a rather nice reno'd 2 x 1 with a self-contained 1x1 flat out the back, gardens are all done, and there isn't too much left to do if anything at all. This was purchased last june for just under 500k.

The point I am making is that I would be weary of making the 20% if the run-down place is in excess of 400k to start with.
 
How much would you be looking to spend on the reno itself though?

We live in a rather nice reno'd 2 x 1 with a self-contained 1x1 flat out the back, gardens are all done, and there isn't too much left to do if anything at all. This was purchased last june for just under 500k.

The point I am making is that I would be weary of making the 20% if the run-down place is in excess of 400k to start with.

There are so many variables, as INVSTR mentioned, size of block, proximity to river. I think you could be right though it may be a tough call to make 20% in this market, you would need to purchase below market.

Cheers, MTR
 
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