Hi Sam, as you were only just recently asking advice (27/3) on the forum about Mount Gravatt, Holland park etc, I'm assuming you've just signed a contract on this, not yet unconditional? Conditional upon building, pest and finance, the usual suspects? Have you had a chance to come down to examine the property yourself in person?
What I observe about this property is that it's built on a pretty steep slope towards the back part of the land. There are a lot of retaining walls. Building insurance mostly do not cover repairs to retaining walls that are not part of the structure of your house/building.
Steep slopes may have implications for water run-off in heavy rains. I would recommend to check with your building inspector if this will affect the water-proofing of any of the ground floor rooms or any rooms that are below ground level (if any)
According to Price Finder, the primary land use is SINGLE UNIT DWELLING
Property Description
RPD: L1 RP131248
AR YEERONGPILLY
Volume/Folio:
Pri Land Use: SINGLE UNIT DWELLING 2nd Land Use: NONE
Land Area: 943 m? Building Area:
Land Area ($/m2): $244 Building Area ($/m2):
Heritage Indicator: Tenure type: Freehold [Issuing]
Water: N/A Sewerage: N/A
Zoning is Residential A. Have you checked with BCC if your property can be subdivided in the future of building of townhouses/duplexes/units etc?
Lastly, seems that you've bought pretty much at land value, congratulations!
Just that the number '41' may not be the most auspicious number for Feng Shui for the Chinese. But if you don't care about that, if the Chinese are not your target market for future sales, this is a buy-and-hold forever for you, then it doesn't matter.
Land Valuation History
Valuation Type: Valuation Date: Issue Date: Effective Date: Valuation Amount:
Site Value 01/10/2013 12/03/2014 30/06/2014 $630,000
Site Value 01/10/2012 20/03/2013 30/06/2013 $630,000
Site Value 01/10/2011 28/03/2012 30/06/2012 $630,000
Site Value 01/10/2010 03/05/2011 30/06/2011 $630,000
Unimproved 01/10/2009 22/03/2010 30/06/2010 $630,000
Unimproved 01/10/2007 17/03/2008 30/06/2008 $570,000
Unimproved 01/10/2006 26/02/2007 30/06/2007 $475,000
Unimproved 01/10/2004 29/03/2005 30/06/2005 $415,000
Unimproved 01/10/2000 $155,000
Unimproved 01/01/1995 $116,000
Unimproved 31/03/1989 $85,000