Ipswitch or Wynnum
- Thread starter wagnman
- Start date
are you comparing a develop-able block (IPW) with a single unit in a block of units (WYN)?
Wynnums a great spot at present with good solid homes on ~500m for 450K and the trade coast's (port of brisbane) scope growing by the month. However the block at Ipswich I assume has greater potential for value add- what's on the block at present?
Wynnums a great spot at present with good solid homes on ~500m for 450K and the trade coast's (port of brisbane) scope growing by the month. However the block at Ipswich I assume has greater potential for value add- what's on the block at present?
Its a great question.
I know of a fellow investor who has set up as a building company in Ipswich and he tells me ( spoke to hm today) that Ipswich is booming and they are going to be very busy going forward.
So much so that we are bailing out of a land subdivision with DA in place but prior to completion so he can concentrate in Ipswich.
Also have a fellow workmate who bought in Wynnum 18 months ago but his was a splitter block with a big queenslander on it.
The old 'units' vs 'land' debate.
I would say it depends on your exit strategy and what you had planned for the property.
But my gut reaction says buy the land in Ipswich.
kph
I know of a fellow investor who has set up as a building company in Ipswich and he tells me ( spoke to hm today) that Ipswich is booming and they are going to be very busy going forward.
So much so that we are bailing out of a land subdivision with DA in place but prior to completion so he can concentrate in Ipswich.
Also have a fellow workmate who bought in Wynnum 18 months ago but his was a splitter block with a big queenslander on it.
The old 'units' vs 'land' debate.
I would say it depends on your exit strategy and what you had planned for the property.
But my gut reaction says buy the land in Ipswich.
kph
Body Corporate issues alone are one reason to go for the block of land. Had a few units over time and not one escaped the frustration, lepathy and headaches of having to deal with or tring to get action from a body corporate. Oh, then you have very real issues such as crappy neighbouring tenants, body corp fees (like a leech sucking on your wallet), getting motions passed by the committee, trying to sell but the complex dragging you down.....do I need to even go on? I use to love units, but after waking up to the virtues of owning land, I saw how ignorant I was.
As for the Ippy block, what are you thinking - onsell or build and hold? How do the final build costs stack up against established property prices in the same area? All say Ippy's booming, but what has your research shown you? Investment or PPOR? As KPH said, what is your strategy?
As for the Ippy block, what are you thinking - onsell or build and hold? How do the final build costs stack up against established property prices in the same area? All say Ippy's booming, but what has your research shown you? Investment or PPOR? As KPH said, what is your strategy?
imho..
I would just look at the time factor,with the unit you have a rental return from day one,and C-G,the v-land you will have all the fees-building costs and that depends on the total lock up costs on the 3x2-4-2 houses,what are the finished prices for the houses..willair..
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