Hi all
I've been keeping a close eye on Fitzgibbon Chase on the northside of Brisbane lately.
I'm looking for an 'easy' investment - buy and hold for a fairly long period and something which will be easy to rent out, hopefully to stable tenants (e.g. families). Returns don't need to be astronomical, provided they are reasonable and fairly constant. Likewise with Capital Growth, I'm happy with slow and steady.
What I have in mind is a brand new 3 bed (+ multi-purpose room), 2 bath, 1 car home on a fairly small block of around 270sqm. Total cost after all is said and done, will be pretty much bang on 400k.
In terms of the area, this is what I'm thinking:
PROS
- Fitzgibbon Chase is a well thought out development including shops, lots of green space, community centre, plenty of on street car parking etc within it.
- Close proximity to Carseldine train station (less than 10min walk), and potentially the future northern busway station (noting that it's been put on hold by the current government but will likely happen eventually)
- When the Roghan Rd/Norris Rd link and the Linkfield Rd overpass is finished, it will have excellent access to the Bruce Highway as well as Bracken Ridge.
- Close proximity to major employment hubs including the Carseldine Government precinct (old QUT campus), Chermside and (to a lesser extent) the airport.
- The whole development will have Fibre to the Home connected.
- The particular blocks I have in mind are 1 minute walk from a park with play equipment etc.
CONS
- Small land size - but this seems to be the way everything is going now so will likely become more common over time.
- Many of the remaining blocks are fairly close to the train line (around 100m away and at least one additional row of houses and a large sound barrier fence between the proposed blocks and the train line).
- Currently a large amount of supply in the area, but will likely reduce when the development wraps up in around 18 months time.
I note that there are similar sized properties available in the older parts of Fitzgibbon for around the same price (or in some cases a bit cheaper) on blocks around 350-420 sqm, however these are generally either a further distance from the train station or much older (10 years +) stock which will likely require more maintenance/renos sooner. I can't think of many places on the north side, without going much further out, where you can buy a 3 bed house (as opposed to a townhouse) brand new for $400k.
So, what do you think? Are there other pros and cons I haven't thought of? Should I take the plunge?
I've been keeping a close eye on Fitzgibbon Chase on the northside of Brisbane lately.
I'm looking for an 'easy' investment - buy and hold for a fairly long period and something which will be easy to rent out, hopefully to stable tenants (e.g. families). Returns don't need to be astronomical, provided they are reasonable and fairly constant. Likewise with Capital Growth, I'm happy with slow and steady.
What I have in mind is a brand new 3 bed (+ multi-purpose room), 2 bath, 1 car home on a fairly small block of around 270sqm. Total cost after all is said and done, will be pretty much bang on 400k.
In terms of the area, this is what I'm thinking:
PROS
- Fitzgibbon Chase is a well thought out development including shops, lots of green space, community centre, plenty of on street car parking etc within it.
- Close proximity to Carseldine train station (less than 10min walk), and potentially the future northern busway station (noting that it's been put on hold by the current government but will likely happen eventually)
- When the Roghan Rd/Norris Rd link and the Linkfield Rd overpass is finished, it will have excellent access to the Bruce Highway as well as Bracken Ridge.
- Close proximity to major employment hubs including the Carseldine Government precinct (old QUT campus), Chermside and (to a lesser extent) the airport.
- The whole development will have Fibre to the Home connected.
- The particular blocks I have in mind are 1 minute walk from a park with play equipment etc.
CONS
- Small land size - but this seems to be the way everything is going now so will likely become more common over time.
- Many of the remaining blocks are fairly close to the train line (around 100m away and at least one additional row of houses and a large sound barrier fence between the proposed blocks and the train line).
- Currently a large amount of supply in the area, but will likely reduce when the development wraps up in around 18 months time.
I note that there are similar sized properties available in the older parts of Fitzgibbon for around the same price (or in some cases a bit cheaper) on blocks around 350-420 sqm, however these are generally either a further distance from the train station or much older (10 years +) stock which will likely require more maintenance/renos sooner. I can't think of many places on the north side, without going much further out, where you can buy a 3 bed house (as opposed to a townhouse) brand new for $400k.
So, what do you think? Are there other pros and cons I haven't thought of? Should I take the plunge?