How do you think of this property in Enoggera

Thanks for the feedback.

Enoggera house medium price is: $520,000.

In Enoggera, a 6-year old 3br townhouse is about $450,000, but a house has more land.

It is very hard to find a brick house in Brisbane, but this one is brick, which is easier to maintain. And I really love the location, nice street, walking distance to park, both enoggera and alderley station, and enoggera state school.

If it is expensive, how much do you think it worths?
 
Why buy a brick house when tenants are used to weatherboard?

If you really want brick maybe go to look at Carindale, a lot of brick houses that way. Older suburbs like Enoggera are going to be full of timber houses.
 
Tulamalula said:
Why buy a brick house when tenants are used to weatherboard?

If you really want brick maybe go to look at Carindale, a lot of brick houses that way. Older suburbs like Enoggera are going to be full of timber houses.
Click to expand...

Lower maintenance. Tenants aren't concerned if its brick or weatherboards.
 
thokkotu said:
http://www.realestate.com.au/property-house-qld-everton+park-115947435

find out around this place mid 400,000 rent close to that cant go wrong
Click to expand...


I was seriously considering house. I expect it sold for a lot more than "mid $400s", I doubt it would be any less than $500K. If you drive around the corner to half way along McAdam St, and adjacent in Trouts Rd, you will see signs stating that this location is a designated main arterial road. I didn't apply to buy the house even though I personally doubt the road will ever be built, but all the locals know about it and that is why this particular house was on the market for so long.
 
thokkotu said:
http://www.realestate.com.au/property-house-qld-everton+park-115947435

find out around this place mid 400,000 rent close to that cant go wrong
Click to expand...


The medium price of house in Everton Park is only: $471,000. That is nearly 50K less than that of Enoggera.

the following 3br brick house in Enoggera, similar walking distance to station list price: $625,000.

http://www.realestate.com.au/property-house-qld-enoggera-115914843

There are a lot of Renos and extensions happening in north side of Enoggera , many houses are above $600,000
 
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Angel said:
I was seriously considering house. I expect it sold for a lot more than "mid $400s", I doubt it would be any less than $500K. If you drive around the corner to half way along McAdam St, and adjacent in Trouts Rd, you will see signs stating that this location is a designated main arterial road. I didn't apply to buy the house even though I personally doubt the road will ever be built, but all the locals know about it and that is why this particular house was on the market for so long.
Click to expand...

Wow, thank you for point it out. Solicitor should find out the future infrastructure will affect the property during duel diligence. So I think it is always good to add a special condition in the contract that the contract is subject to 14 days duel diligence.
 
Sam Yue said:
Wow, thank you for point it out. Solicitor should find out the future infrastructure will affect the property during duel diligence. So I think it is always good to add a special condition in the contract that the contract is subject to 14 days duel diligence.
Click to expand...

You can add any condition you like to the contract, but the more "outs" you give yourself the less attractive it is to the vendor.
Marg
 
If I was a vendor and had several contracts, one subject to duel diligence in 14 days, I would go with someone else. surely duel diligence should be done before you make an offer.

As a buyer, I wonder if this is a good buy, the good buys are going fast with multiple offers.
 
Tulamalula said:
If I was a vendor and had several contracts, one subject to duel diligence in 14 days, I would go with someone else. surely duel diligence should be done before you make an offer.

As a buyer, I wonder if this is a good buy, the good buys are going fast with multiple offers.
Click to expand...

Tulamalula, your saying makes sense.

It looks it depends on the vendors. Some vendors don't care about duel diligence condition, since you can easily quit the contract by saying that you can not get the finance. My solicitor strongly recommended me to add Duel diligence condition, which is safer (since you don't need to pretend to have finance failed).

There is a situation that you found a suitable property, then you want to snap it up by paying a competitive market price. Then the vendor is satisfied with the price, understands that the buyer doesn't have good knowledge of the property and happy to have the duel diligence clause.

I am scared of multi-offer situation. If I found a right type of property, I would rather offer an attractive price to get the property quickly rather than biding with my maximum price.

Those are just my thoughts. Glad to hear different points of view.
 
Tulamalula said:
Why buy a brick house when tenants are used to weatherboard?

If you really want brick maybe go to look at Carindale, a lot of brick houses that way. Older suburbs like Enoggera are going to be full of timber houses.
Click to expand...

Thank you Tulamalua, Carindale is a great location since it is a regional center.. However, my current research is mainly on northwest and Nundah area. I don't have time to research a new place now.
 
Sam Yue said:
Wow, thank you for point it out. Solicitor should find out the future infrastructure will affect the property during duel diligence. So I think it is always good to add a special condition in the contract that the contract is subject to 14 days duel diligence.
Click to expand...


No the solicitor wont find out, it is local knowledge only. A competent BA like Andrew will know this.

From past experience, I have found that unless the property is earmarked for resumption by Main Roads, it will not be flagged on a MR search. We bought this land where we live based on inaccurate search results given out .They showed an old town plan to those of us buying on this side of the street (where the main road was going to be built just behind our land) and the new plan to those purchasing across the street from us.
 
Angel said:
No the solicitor wont find out, it is local knowledge only. A competent BA like Andrew will know this.

From past experience, I have found that unless the property is earmarked for resumption by Main Roads, it will not be flagged on a MR search. We bought this land where we live based on inaccurate search results given out .They showed an old town plan to those of us buying on this side of the street (where the main road was going to be built just behind our land) and the new plan to those purchasing across the street from us.
Click to expand...

Thank you Angel. Your information is great! I do find out the The North West Transport Corridor map which dictates a big corridor road will very closely pass 48 Mountridge St Everton Park. Check the map:

http://www.tmr.qld.gov.au/~/media/c...orridor/north_west_transport_corridor_map.pdf

Luckily this corridor road would not directly impact 17 Laurel Street Enoggera. or.. maybe have some implications, but I really don't know how it will impact properties 200 meters away from the entrance of the road.
 
hello
in the event a property is resumed, like they have done in NSW for various projects i believe one gets a decent compensation.
- advantage
no need to pay selling fees
stamp duty exemption for next purchase
fair valuation

any thoughts ?
 
thokkotu said:
hello
in the event a property is resumed, like they have done in NSW for various projects i believe one gets a decent compensation.
- advantage
no need to pay selling fees
stamp duty exemption for next purchase
fair valuation

any thoughts ?
Click to expand...


No way! Since when does the government pay "fair value" that the owner thinks is fair?

We are not talking about resuming anything. The roadway corridor was left vacant at least 40 years ago when I was a child and they built in the "Hollywood" estates off Trouts Rd at Everton Park.
 
Sam Yue said:
Luckily this corridor road would not directly impact 17 Laurel Street Enoggera. or.. maybe have some implications, but I really don't know how it will impact properties 200 meters away from the entrance of the road.
Click to expand...


I cant see how it would impact Laurel St. Your traffic can get out at Sicklefield Rd.

Someone is about to build the South Pine Rd-Stafford Rd section that will bypass the main EP shopping Centre. It may be the Govt or they may be getting the developers of the new shopping centre to build it.

A few years ago they completed the Bridgeman Rd extension and widening from Beckets Rd to Carseldine, to the left (west) of the corridor. A massive project that takes traffic directly joining Linkfield Rd and connecting to the Motorway at Carseldine/Bald Hills. They are currently upgrading the Wardell St-Samford Rd intersection at Enoggera. Labor "promised" a fly-over but Campbell reduced it to widening the intersection when he was elected.

Next time I go to Bunnings at Carseldine I'll have to check out what exactly they are doing around Ridley Rd.
 
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