Brisbane- what to buy

[Cantika]

Hi all!
I'm a first home property buyer. I will like this property to be great for rental, and also great for me to live in, when work takes me back to Brisbane (Work tends to send me around QLD or elsewhere).

Budget- 550 000 ideal max. Can go up to 600,000 for the ideal property.
Had seen an amazing looking townhouse in Clayfield asking for about 600,000. E-W orientation, semi-detached freehold (sharing walls with neighbour, diving wall between bedrooms), and 164sqm2 in land area. Its a lot that has been subdivided into 3 lots, I think. The rental is about 530/wk.

I am now thinking instead of that (dad doesn't like the built- he's in the construction business and pointed out a few things he doesn't like which he says would be dealbreakers for him, including trouble with the neighbour in future (although different titles realistically speaking we are sharing a house)) and I trust his judgment. I think with the same money I could buy a decent real house in an area like Gaythorne, Stafford, Enoggera, Nundah, Alderley (say a smaller lot of about 300 to 400sqm2, maybe 2 bedrooms or 3 bedrooms, 1 bathroom, ready to move into but some renovation work wouldn't hurt kinda scenerio).

Just wondering what people think about my thoughts or am I being stupid or unrealistic here? Also out of the inner north suburbs are there any other suggestions? My criteria are good schools nearby, close to public transport, and NOT on main or secondary streets, or too close to them. I have this love affair with the Northside, always felt the most comfortable here compared to the South or West.

I have a lot of questions and we really are struggling here. Never knew buying a house is so hard! Thanks for all the help!

C

 

[vbplease]

I think with the same money I could buy a decent real house in an area like Gaythorne, Stafford, Enoggera, Nundah, Alderley (say a smaller lot of about 300 to 400sqm2, maybe 2 bedrooms or 3 bedrooms, 1 bathroom, ready to move into but some renovation work wouldn't hurt kinda scenerio).

For that money I'd be looking at a 3 bed post war on 600sqm in Enoggera. Walking distance to the train and in the same school catchment as Ashgrove for Oakleigh school. I don't think you can buy into Alderley for 550 unless its on or right next to a main road.

 

[MWDB]

For that money I'd be looking at a 3 bed post war on 600sqm in Enoggera. Walking distance to the train and in the same school catchment as Ashgrove for Oakleigh school. I don't think you can buy into Alderley for 550 unless its on or right next to a main road.

Yep, look for something detached with character. You will find these post war homes will take a tonne to fall down. We pulled down a post war home, stripped all the beams. It was standing on 4 posts, one on each corner and the frame kept it up. We literally had to tear it down with a 15 tonne excavator.

In terms of selling under pressure, if you are buying townhouses or apartments, think about worst case scenario. If you are selling and so is your neighbour, what sets you apart? You have two places that are the exact same!

 

[Rixter]

I have a lot of questions and we really are struggling here. Never knew buying a house is so hard! Thanks for all the help!

Cantika, first off welcome to SS.

What and where to buy is dependent upon your chosen investment strategy.

You see property is merely the vehicle. The strategy is how you intend driving that vehicle.

Unfortunately the mistake I see newbies and sometimes not so newbies is that they are property focused instead of strategy focused which is like putting the cart before the horse.

Property investing is not about property rather about the strategy and the way you intend to use the vehicle to get to where you are wanting to go. No good buying a small shopping car if you intend driving interstate on a family holiday.

What strategy/s are best for you is determined by where you are wanting to go, the time frame you want to get there in and how hands on along the way you want to be - all based around your personal risk profile.

If you dont know what you are looking for all property's will appear the same. Thus the confusion and frustration.

I hope this provides some food for thought.

What is your chosen investment strategy?

 

[LeoT]

Your gonna want a 3 bedroom older home, within 12km of the cbd, something with above 500sqm of land if possible. Something with room to add value.

 

[gradeng]

Your gonna want a 3 bedroom older home, within 12km of the cbd, something with above 500sqm of land if possible. Something with room to add value.

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

 

[LeoT]

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

Hi Gradeng,

Yes 405sqm or there abouts is standard, so I was suggesting something that's above the norm to give your IP an edge in terms of land size.

In terms of LMR, yes you would need at least 600sqm, but if were talking just for IP purposes, then what im saying is try to get a place with bigger than normal land content if possible.

 

[gradeng]

Hi Gradeng,

Yes 405sqm or there abouts is standard, so I was suggesting something that's above the norm to give your IP an edge in terms of land size.

In terms of LMR, yes you would need at least 600sqm, but if were talking just for IP purposes, then what im saying is try to get a place with bigger than normal land content if possible.

Thanks Leo, makes sense

 

[jerrybee]

405sqm isn't standard in almost all the areas I'm aware of. It's generally about 550-650sqm.

 

[willair]

405sqm isn't standard in almost all the areas I'm aware of. It's generally about 550-650sqm.

Go inner city and you will find some are a lot smaller then 405sqm,and range upwards too 812sqm then above 1000sqm,with a very high ucv..

 

[LeoT]

Go inner city and you will find some are a lot smaller then 405sqm,and range upwards too 812sqm then above 1000sqm,with a very high ucv..

yup. That's been what ive seen.