Hi All
I'm looking to buy a property in Hobart primarily as a (very) long term investment. I don't expect there is going to be huge gains in Hobart anytime in the near future but I figure the rental yields are good and property there is VERY affordable. I would also like to use it occasionally as an alternative to staying in a hotel when visiting Tas on holiday.
Areas I've looked at so far are Claremont and Blackmans Bay. What I'm looking for is - close to Hobart CBD (i.e. a half hour drive or less), water views, walk to beach, and preferably a house with a fair chunk of land (600m2) or more.
I seem to have found properties on realestate.com.au that fit the bill for under $300K! This seems insanely cheap coming from someone who has mainly invested in Darwin.
Few questions:
* Are there any other areas I should look at?
* What is realistic pricing for such a property?
* What are the rental yields like. I am hoping in the 4-5% range.
* What are vacancy rates like? In these areas would you expect long periods without a tenant?
I can imagine myself wanting to live there in 10 or 15 years from now, so if I can buy something that almost looks after itself (good rental yields) after a few years, I can use occasionally on holiday (between tenants) - I would like to buy before it becomes unaffordable like anything else with water views in this country.
Adam
I'm looking to buy a property in Hobart primarily as a (very) long term investment. I don't expect there is going to be huge gains in Hobart anytime in the near future but I figure the rental yields are good and property there is VERY affordable. I would also like to use it occasionally as an alternative to staying in a hotel when visiting Tas on holiday.
Areas I've looked at so far are Claremont and Blackmans Bay. What I'm looking for is - close to Hobart CBD (i.e. a half hour drive or less), water views, walk to beach, and preferably a house with a fair chunk of land (600m2) or more.
I seem to have found properties on realestate.com.au that fit the bill for under $300K! This seems insanely cheap coming from someone who has mainly invested in Darwin.
Few questions:
* Are there any other areas I should look at?
* What is realistic pricing for such a property?
* What are the rental yields like. I am hoping in the 4-5% range.
* What are vacancy rates like? In these areas would you expect long periods without a tenant?
I can imagine myself wanting to live there in 10 or 15 years from now, so if I can buy something that almost looks after itself (good rental yields) after a few years, I can use occasionally on holiday (between tenants) - I would like to buy before it becomes unaffordable like anything else with water views in this country.
Adam