openion: Buying in Hobart CBD within 15k

Newbie here, so take it easy!

Anyone have done some research on 10-15 k from Hobart CBD/

I see a lot of water front house (3 or 4 bedroom) are under $400k.
I am looking for medium to long term , but renting it out to start.

thank you experts.

-sour
 
Newbie here, so take it easy!

Anyone have done some research on 10-15 k from Hobart CBD/

I see a lot of water front house (3 or 4 bedroom) are under $400k.
I am looking for medium to long term , but renting it out to start.

thank you experts.

-sour
Hi Sour,

For whatever it's worth and perhaps I'm stating the obvious, buying 10-15k out of Hobart is virtually buying in the country, so to speak. If you're seeking any kind of growth as is starting to happen now, you should think about buying closer to town. If it's a lifestyle choice, then it's a different kettle of fish. However, I'm not sure how easy it would be to get reasonable rent that far out of the CBD. What suburbs you looking at?
 
Hobart is not your typical city.

Landlocked like Sydney, sprawled like 1960s Perth. Try getting around without a car, at all, anywhere in Tas.

15 mins out of the CBD in Hobart puts you up the hill or over the bridge. That's a physical and mental barrier. You want to be 3 mins out of the CBD, that puts you before the bridge and before the hill.

Although why you'd want to invest in a state where even govt employees are casual has me more concerned than your choice of location.
 
What do you guys think about Tassie for lifestyle investments?

When u say lifestyle I mean something that is your dream location (forget the cold) and can still achieve a 5% yield

I just don't think these opportunities will be available forever at such a low price

Thoughts?
 
What do you guys think about Tassie for lifestyle investments?

When u say lifestyle I mean something that is your dream location (forget the cold) and can still achieve a 5% yield

I just don't think these opportunities will be available forever at such a low price

Thoughts?

mmm

For me a lifestyle investment is something I buy so I can use it .

We've looked at holiday rentals for investment , but decided against it due to how their performance can be closely linked to the overall economy .

If I'm buying an investment , i'll do it as that.

We've toyed with the idea of buying a unit in Queensland , somewhere like Airley or Cairns , but it would be something to buy because we want to use it and any income from holiday rentals would be a bonus , but not the driving Factor.

We bought a weekender , but made the decision not to rent it out as we want to be able to use it when we want to and not have to worry about whether it's available . Currently our 20 year old son is up there with 15 of his best and closest friends ...:eek::eek:

Cliff
 
Tradies

You have to realise that getting tradies to do work more than a 5, 10 min drive away is near impossible in Tassie.

Hi Jess,

My experience getting tradies in Hobart has been very positive and I live in Melbourne; all contracting done pretty much by phone. We've renovated a 4 bedroom Federation house, a derelict building, and 2 units all in Hobart, pulse "tweaked" two other flats. No dramas at all. I think if you find the right people to work with, its not a problem.

Giuseppe
 
I'm trying to buy 2 conjoined cottages near the CBD in Hobart for short term holiday accommodation. It seems the bank (CBA) only takes into account the long term rental potential which is a lot less.

Does anyone know any way around this?
 
I'm trying to buy 2 conjoined cottages near the CBD in Hobart for short term holiday accommodation. It seems the bank (CBA) only takes into account the long term rental potential which is a lot less.

Does anyone know any way around this?

You're buying a residential property and they're assessing it as such? :eek:

Does your serviceability not work otherwise? If so, I'd question whether you can actually afford to hold onto it.
 
Have you gone direct to bank or through a broker? Just because this one particular lender might not service on market rates, doesn't mean they will all not service on the lower rental rate.
 
For what its worth heres a locals perspective.

We moved here to live in 2000 specifically because of the lifestyle and business opportunities.

We purchased in 2001-2002 houses 10-15kms from the CBD for 30k and rented them for $100pw (today $200k and rent $200pw)and bought waterfront blocks for 25k today $150k

In Tas we talk in kms like u guys talk in minutes 10-15kms is kingston/margate to the south and midway point to the north.

no arguement public transport limited.

Weve been able to obtain 5+% yield on our rentals, even in remote locations ( 60kms from hobart, in a town of 600 people)
 
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