Looking for colllegial feedback about Gordon Park Brisbane

[rchad]

Hi

Just wanting to hear your perspectives and some reassurance - often it appears tempting to want to downsize to a trendy apartment on the river but ofcourse there are compromises associated with this and costs - I have been living for 21 years in my home at Gordon Park - Beaconsfield terrace - tri level home through my own renos on my own time on 809m2 with city views from second and third level - I own $180K on this property and paying it off now quickly in addition to managing my investment portfolio (keeping my buffer going) - a lot of infrastructure has recently taken place to the city and airport and this is a suburb 5.5 km from CBD

Two options atm as I see it - hang onto the property given most blocks are now subdivided and the property is close to CBD hoping for some serious CG or bail out in next year with associated costs and relocating to riverfront/riverside apartment in Hamilton/Bulimba/Tenneriffe/Newfarm

I feel as though the suburbs I am thinking of downsizing to are at peak whereas Gordon Park is still a undervalued suburb? What do you think? I am also aware that most of the books I read about the wealthy articulate that they do not often move and wealth increases over time with suburb increasing in equity etc - my objective mindset says don't move and stay put for at least another ten years ...the emotional side says have a midlife move in the next year or so...please offer your insights

 

[vbplease]

Why not rent where you want to live and turn your Gordon Park house into an investment property? I'm sure you'd find a handy cash flow difference in addition to the lifestyle difference.

 

[wylie]

I've always felt that Gordon Park is a bit of an undiscovered gem. I vote that you stay, but if you need a change, rent it out for a year and see how you feel about where you move to.

We moved from Balmoral 15 years ago. It was a hard decision, but no way would I want to live there now. So many more people crammed in, way too trendy, to difficult to park anywhere near what you want to see etc. Financially we would have done better to stay there, but we sold one house and bought two, so I suppose we didn't really lose financially. (But had we just sold one house and bought and renovated the one we are in now, we would be considerably worse off, just because of the "trendy = more dollars" factor.)

 

[rchad]

Keen for additional perspectives

Noted many viewers of post but few comments - really keen to hear multiple perspectives to add value to excellent feedback to date; please

 

[Mr. Fabulous]

if you need a change, rent it out for a year and see how you feel about where you move to.

I was going to say keep it and buy something where you wanna live, but this is better.

Also, I learned the meaning of collegial today. I'd heard it before, but hadn't bothered to look it up. In the context that I'd heard it before, I assumed that it meant something like maintaining an intellectual discussion or group, not the case as it turns out!