Brisbane - Morningside 1bed apartments

Y

YPG

Hi everyone,

Just wanting opinions on the following properties. 1 bedroom apartments in morningside 7km east of the Brisbane CBD.

In the past I had always thought to stay away from 1 bedroom apartments and try look more at 2 bed apartments as I have always been lead to believe they have greater chance of CG, but then again I am also told it all comes down to demand. But I thought these were pretty well priced for a brand new product in a fairly nice area. Good transport options to the CBD too and surrounded by nicer suburbs of bulimba and hawthorne. Hopefully be in demand for singles, couples or professionals as the agent says. Rental appraisal given was 390-420 per week. Body corporate+sinking fund a little higher than I would like at $30 per week but I guess there is a lift and CCTV security cameras. What are peoples thoughts?

Apparently heaps of interest from buyers with a couple being picked off this week (first week) and more expected next week. Agent expects all to be sold by christmas.

Agent has mentioned most interest from FHB and young professionals as well as interstate investors

Developer normally builders 2 and 3 bed units but is building these as in his past few developments the 1 bedders have been selling and renting first.

Thanks very much.

http://www.realestate.com.au/property-apartment-qld-morningside-111998247
 
Hi,

I think these units are pretty good, the price is not bad and it is really close to the shops. I actually put a deposit on one this week, hopefully everything goes well. I dont know if I have over paid or not.

I did tell the agent that I am not happy with the tiles the builders have chosen and asked if I can change it.

The are plenty of 2 / 3 bedroom units around the area, older units starting at 370k, so i think its up to you if you want to buy new or not.:)
 
Hate to say in Brisbane that is about right.

Check out who the BD Manager is as some of the bigger names are known for charging like a wounded bull.
 
Twesty said:
Hi,

I think these units are pretty good, the price is not bad and it is really close to the shops. I actually put a deposit on one this week, hopefully everything goes well. I dont know if I have over paid or not.

I did tell the agent that I am not happy with the tiles the builders have chosen and asked if I can change it.

The are plenty of 2 / 3 bedroom units around the area, older units starting at 370k, so i think its up to you if you want to buy new or not.:)
Click to expand...

Hi Twesty,

What did you not like about the tiles?

Do you know if others have put a deposit down?
 
I am not a big fan of floor tiles so I wanted to change to another material.

There are 3 deposits down (including myself) and all have bought corner units, but don't quote me on that and check with the agent.

Let me know if you are going to be a neighbour.:)
 
Yeah I put a EOI deposit down last week.

Good to hear there are 3 of us within the first week.

I won't be living in mine though - purely investment.

Agent said they only need 4 sales to commence construction so thats good news.

I think I will give him a call tomorrow to see how its all going and any more news. My solicitor should be going over the contract anytime now.

If you have 201 you should ask them for a sliding cavity door to the bathroom, thats what I have done for 101.

Were you going with the light or dark color scheme? I think I am going light.

Here is a link to the developer and his teams last project. Pretty good idea of quality. http://www.realestate.com.au/property-unit-qld-bulimba-111682099
 
Hi,

Yes I put my deposit down for 201 and yes I asked them for the cavity slider in the bathroom as well. Great minds think alike!

I am going for the light colour scheme, I think it will age a little better.

I went around to that apartment on the weekend when they had an open house, and again the floor tiles really bothered me. The rest of the complex was satisfactory. I am going to see if I can epoxy the whole unit floor, the floor area is pretty small so it wont be crazy expensive.

May I ask which solicitor did you use? How much are they charging? I haven't found one yet and I am getting the contract this week.

Thank you.
 
I am just using my family solicitor. My parents have been with her for a while so I don't know exact costs at the moment but she normally looks after us pretty well. I can PM you her details if you like, maybe it will be an easier process as it will be 2x of the same contract.

I am less concerned with the tiles factor but I guess thats just because it will be an investment for me and tiles should be easy to maintain.

Hopefully you being on the second level you will get a bit more benefit out of the lift hah.

Are you planning on living in yours?
 
Hi,

I am still thinking if i should live in or not, It really depends on how much rent we can actually get for these unit. I don't know if people would really pay $390 for 1 bedders in Morningside, it seems it be a bit high. What do you think?
 
Yeah I am a bit skeptical as well. I was assuming more around the $375 mark. But I was also considering offering mine fully furnished or at least chucking a washing machine and fridge in and hoping to get a bit more from that. But who knows maybe they will be popular? There seems to be a lot of 2 and 3 bedders around the area and not really that many new good quality 1 bedders. Are you a FHB? Getting the 15k off?
 
Not a FHB so no $15,000 and no discount from the agent. He wouldn't even take $1 off the listed price, and no freebies either, I tried. So I don't know if I paid too much or not.

A studio apartment in East Brisbane can rent out for $280 a week, so I hope the minimum we can rent these for would be $340 the lowest.
 
Yeah but a studio and 1 bedder are still very different. If I was to move back to brisbane I would rent a 1 bed unit with my girlfriend but we would never rent a studio. And as far as these ones go they have a pretty good layout and a nice size balcony.

Yeah the agent said there was no way they would lower anything because they were very confident they will sell anyways.

I still think they are a pretty good option. I seriously doubt they would rent that low. Most of the new 2 bed and 3 beds available are pushing the 500-600 mark.
 
YPG said:
I still think they are a pretty good option. I seriously doubt they would rent that low. Most of the new 2 bed and 3 beds available are pushing the 500-600 mark.
Click to expand...

Check the RTA Median rent’s.. 1 bedrooms that aren’t in Bulimba aren’t the easiest to move on the rental market with so many well priced 2 bedroom properties always coming on
 
Its a bit of a worry with the median weekly rent at $250. Oh well, the worst it can happen is that I live in it and pay off the loan. I can deal with that.:)
 
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