Holiday in Gold Cost to buy IP, need help!

[piNoob]

Hello,

ok, here we go, just yesterday me and my wife decided to go to Gold Coast during school spring holidays ( starts in 1 week ) and at the same time look for our first IP. Idea is to drive around and get to know area better, but if RE agents will offer something interesting will buy on the spot as well.

So all good people on this forum I want to ask you few questions to better prepare ourself for this exciting event

1. We are going to contact few RE agents in Gold Coast/Brisbane area and ask them to start looking for IP's which suits us ( price wise etc. ).

If anyone can recommend RE agent in Gold Coast area, it would be really helpful.

2. In the event if we will find IP during this holiday week and we want to go under contract, what solicitor should we use? We have one here in Sydney which we used for our PPOR, but because we are buying in QLD, maybe its better to find local one? If so, can you please recommend in Gold Coast area?

3. What other things we need to organize before we go there? We have our loan pre aproved with ANZ already, so that part should be ok.

Because we only have 1 week left for preparation, I will analyze as much data as I can from Residex, perhaps hotspotting reports to help us narrow down suburbs we want.

I know its not a lot of time left, but I think we can make it, what do you think?

Any help, hints and tips would be really appreciated!

 

[Debt Junkie]

Just sent you a private message.

My PM in Southport says the rental market has been slow but is speeding up at the moment ... we'll see. She may just being saying that cos she hasn't rented my townhouse out (it's been on the market a week and a half), so not long

If you're looking for some Southport-ish, then be aware of closeness to the Gold Coast Hospital (and I think the government mentioned the site for a new hospital was moving ... can't remember the details), the new marina and the Griffith Uni campus.

That's all. Good luck househunting!

DJ

Also, FYI, if you are interested in future developing (small scale) then maybe you should look at some houses in Southport - but do your DD first. Lots of the blocks in the area with houses on them are being knocked down and replaced with executive townhouses. Now I really have to go!

 

[alexlee]

Just make sure anything you sign is subject to finance, building and pest inspection and/or something else that allows you to get out of it if something goes pear-shaped.
Alex

 

[rastus2]

Just sent you a private message.

My PM in Southport says the rental market has been slow but is speeding up at the moment ... we'll see. She may just being saying that cos she hasn't rented my townhouse out (it's been on the market a week and a half), so not long

If you're looking for some Southport-ish, then be aware of closeness to the Gold Coast Hospital (and I think the government mentioned the site for a new hospital was moving ... can't remember the details), the new marina and the Griffith Uni campus.

That's all. Good luck househunting!

DJ

Also, FYI, if you are interested in future developing (small scale) then maybe you should look at some houses in Southport - but do your DD first. Lots of the blocks in the area with houses on them are being knocked down and replaced with executive townhouses. Now I really have to go!

Hi piNoob,

FYI... Southport - Gold Coast Hospital is moving from current site to Parkwood (only a suburb or two north west)... expected open date is 2012, but I have strong memories of the PAH (Large hospital in Brisbane) which was so delayed the sign rusted and fell over, was rebuilt, and rusted again before they opened it... expect it to be open by 2014 / 2015.

Southport area is full of asbestos roofing (walls and even fences) so beware... In my opinion, this will be health, financial and legal time bomb in the next 15 years... Solicitors are already collecting names of anyone who has been exposed for potential law suits across the country even if they have not (as yet) presented with asbestoses.

Anywhere East of the M1 is expensive... west of it is cheaper.

Up in the Hinterland the prices are starting to rise quite a lot simply because the availability of 'flat land' is getting scarce.

Caveat: while I suspect SEQ still has a lot of potential due to population boom, (particularly Sunshine Coast), the Gold Coast is well known for strong booms, followed by very long busts.... also, RE Agents here are often accused of selling 'Southerners' RE far in excess of fair market value. Know any area your buying like the back of your hand.

 

[piNoob]

thanks everyone for suggestions!

Suburbs we are thinking about at the moment are:

1. Parkwood in Gold Coast
2. Beenleigh
3. Wynnum
4. Deception Bay
Also thinking around Springfield area...

As you see they are scattered from Goal Coast to North Brisbane.

FYI... Southport - Gold Coast Hospital is moving from current site to Parkwood (only a suburb or two north west)... expected open date is 2012, but I have strong memories of the PAH (Large hospital in Brisbane) which was so delayed the sign rusted and fell over, was rebuilt, and rusted again before they opened it... expect it to be open by 2014 / 2015.

thanks rastus2, I wasn't aware of asbestos problem in Southport. Do you know if this is same in Parkwood?

Fact that hospital moves into Parkwood only confirms that this might be a good suburb to look into.

Also, thanks for a hint about Gold Coast RE agents, will keep that in mind.

 

[ger]

We spend 2 weeks a year for past 9 years
gold coast sunshine coast.
I like
Broadbeach as the best part of the coast
then Mermaid beach
Have stayed at Southport once
stayed at The Grand Appartments
although a nice place there
I found the Traffic just past the bridge and
from Australia Fair to be very bad at peak times
as traffic from surfers heads off to
Brisbane.
PS I think 1 week is not long enough to find and
research to buy a property. I have had the
same thought many times but when I get there I change my mind

 

[AnneDe]

Because we only have 1 week left for preparation, I will analyze as much data as I can from Residex, perhaps hotspotting reports to help us narrow down suburbs we want.

I know its not a lot of time left, but I think we can make it, what do you think?

Any help, hints and tips would be really appreciated!

Hi piNoob,

Here is a link to the Gold Coast Local planning scheme. If you have some spare time for reading and checking out local area maps, it might give you an indication of what council future plans are, including zonings and infrastructure.

http://www.goldcoast.qld.gov.au/gcplanningscheme_new/Support_files/contents.htm#part8

Cheers,
AnneDe

 

[suzieq]

Hi piNoob,

Depending on how much research you have done on the areas you are interested in, I believe a week will be suffice as long as you stay focused on those particular areas only.

Good luck, enjoy your holiday and hope all goes well.

cheers

sq