If you had only 250k to buy a house, where would it be and why?
- Thread starter dafunk
- Start date
you beat me to it!
250k cash or borrowing capacity?
if 250k cash i would buy a small value add property, perhaps a reno build and retain or something of that ilk. im far too impatient to just wait for capital growth
Haha fair enough
Well im new to this game so i have no choice but to be budget dependent
I've got a list of:
Ballarat Vic
Whyalla SA
Mount Gambier SA
Burnie TAS
Devonport TAS
Launceston TAS
All have a median house price in the 250k area
All decent population sizes for 2nd tier cities
Ballarat is probably and Whyalla have me interested the most
Can still buy a 3br house within 1km of the train station in Ballarat
Whyalla has a beach and a highway dividing the town
And we know how that always turns out...
Well im new to this game so i have no choice but to be budget dependent
I've got a list of:
Ballarat Vic
Whyalla SA
Mount Gambier SA
Burnie TAS
Devonport TAS
Launceston TAS
All have a median house price in the 250k area
All decent population sizes for 2nd tier cities
Ballarat is probably and Whyalla have me interested the most
Can still buy a 3br house within 1km of the train station in Ballarat
Whyalla has a beach and a highway dividing the town
And we know how that always turns out...
Didn't have too many enquiries about Mt Gambier and it seems to be a little off the boil in recent years. Not sure how strong the employment base is and what the prospects are - needs more research into the economic fundamentals.
Whyalla on the other hand seems to attract a fair bit of attantion and I've had at least 3 strong enquiries from interstate in the past 6 months. I'm sure you've done fair bit of research yourself and it does have some reasonably solid fundamentals but most of the investors who rang me about it counted on the future potential eg. expansion of the Olimpic Dam (now on hold) and other mining projects in the pipeline. It has a port, uni, hospitals, several schools, fully established recreation/shopping etc and several flights a day to Adelaide. It's your call
Paul
Whyalla on the other hand seems to attract a fair bit of attantion and I've had at least 3 strong enquiries from interstate in the past 6 months. I'm sure you've done fair bit of research yourself and it does have some reasonably solid fundamentals but most of the investors who rang me about it counted on the future potential eg. expansion of the Olimpic Dam (now on hold) and other mining projects in the pipeline. It has a port, uni, hospitals, several schools, fully established recreation/shopping etc and several flights a day to Adelaide. It's your call
Paul
i think its 2 years too late to be honest
ive been to many, many run down open houses and auctions there
when houses are being sold within 2 days of the first open house
you know its not going to end well
its like the last chance saloon
people getting in for the sake of it
and the rental returns arent quite there anymore at the current asking price
i think better growth can be achieved/manufactured in more desireable areas elsewhere in the country
in the end its still tregear, shalvey and wilmot etc.
im aware i could be completely wrong hence this thread =)
ive been to many, many run down open houses and auctions there
when houses are being sold within 2 days of the first open house
you know its not going to end well
its like the last chance saloon
people getting in for the sake of it
and the rental returns arent quite there anymore at the current asking price
i think better growth can be achieved/manufactured in more desireable areas elsewhere in the country
in the end its still tregear, shalvey and wilmot etc.
im aware i could be completely wrong hence this thread =)
I was there with Dafunk a few months ago, I ran into my old uni friends who were trolling the ex-doh cause they heard the area was a great place to invest on the news.
Each sold $30-50k more than what I had paid only 3 months before.
I stopped looking there after that.
A friend went unconditional at $245k on a 4 bedroom fibro home in Tregear only on Monday but now like finding a needle in a haystack... I would consider Logan area in SE Qld and the yields are better there for sure.
Whyalla on the other hand seems to attract a fair bit of attantion and I've had at least 3 strong enquiries from interstate in the past 6 months. I'm sure you've done fair bit of research yourself and it does have some reasonably solid fundamentals but most of the investors who rang me about it counted on the future potential eg. expansion of the Olimpic Dam (now on hold) and other mining projects in the pipeline. It has a port, uni, hospitals, several schools, fully established recreation/shopping etc and several flights a day to Adelaide. It's your call
Paul
-Logica
Thanks for the input
I think you are dead right about the fundamentals of a town, especially for long term growth
An excellent council is also a big bonus
I haven't been on the ground in SA to guage things better yet, maybe in the next few weeks.
Is there a drought in SA coz i havent seen a single house with green grass (if any grass at all)?
LOL
I'm also looking closer to Adelaide at Elizabeth and Hackham West particularly
Have you got any thoughts about these areas?
I was at a mortgagee auction beginning of the year in Lethbridge Park
3br brick renovated house sold for 256k
i thought it was a bit pricey until i saw a DOH fibro home sell at auction for the same price the week after
There it is again
Logan
Is there a specific part of Logan?
Seems to be a large area covered by Logan City and many suburbs within
Any flooding issues there?
http://www.domain.com.au/Property/For-Sale/House/NSW/Lethbridge-Park/?adid=2010465062
This didn't sell for $285,000...much less.
This didn't sell for $285,000...much less.
Suggest Marsden, Slacks Creek, Logan Central ... no flooding issues there
There's plenty of houses around for under $250k about the place in both Toowoomba and Rockhampton, both are major regional centres in Queensland.
NICE !! yeah I just bought 3br brick in Tregear for 245k, settled today.yay yay
this was the house
http://stmarys.ljhooker.com.au/BXNF7D
land wasn't very big and there wasn't a garage
