sceptical about QLD

First of all, I apologize if this post may offended property owners in QLD. I'm based in Sydney NSW and I hear lots of natural disasters affecting properties in QLD yet I still see many investment opportunities being marketed in QLD due to their cheaper market price. Being green and lack of knowledge around the QLD area, I'd like to know if it's actually wise to buy investment in QLD?

For investors who buys in QLD, wouldn't your property insurance premium be higher than any other state?

The price are certainly attractive and affordable for me to start investing. But should I be sceptical due to the natural disasters?
 
Yeah I'm curious about this too.. I see a lot of people buying in Logan Central... I see a lot of these houses are built on stilts... Doesn't that indicate it's flood risk area?

I looked at the logan map interactive thingy but can't understand it... Which part of Logan area is high risk and where is it safe?
 
First of all, I apologize if this post may offended property owners in QLD. I'm based in Sydney NSW and I hear lots of natural disasters affecting properties in QLD yet I still see many investment opportunities being marketed in QLD due to their cheaper market price. Being green and lack of knowledge around the QLD area, I'd like to know if it's actually wise to buy investment in QLD?

For investors who buys in QLD, wouldn't your property insurance premium be higher than any other state?

The price are certainly attractive and affordable for me to start investing. But should I be sceptical due to the natural disasters?
I just purchased two in Qld, one in Logan and one in Moreton Bay obviously you have to do your due diligence with flood zones in the areas you are purchasing i always double check with insurance quotes before going ahead with a property to make sure its not going kill the cash flow either.
I didn't find insurance premiums to be to bad compared to nsw paying $1250 a year for landlord/ building insurance with ammi in logan and 1200 in moreton bay for the same cover.
 
I see a lot of these houses are built on stilts... Doesn't that indicate it's flood risk area?
No. We just build houses on stumps in qld because it is just what we do :). It allows for the breezes to circulate and kill some of the heat.

Of course now with air con it is not quite as important, highset houses also allow for great storage without losing land area.
 
Yeah I'm curious about this too.. I see a lot of people buying in Logan Central... I see a lot of these houses are built on stilts... Doesn't that indicate it's flood risk area?
The problem that some people get into is when they spend a lot of money building out downstairs on a raised house and it gets flooded. Sometimes it's raised just because it's a Queenslander, sometimes it's raised so it's above the flood water.
 
First of all, I apologize if this post may offended property owners in QLD. I'm based in Sydney NSW and I hear lots of natural disasters affecting properties in QLD yet I still see many investment opportunities being marketed in QLD due to their cheaper market price. Being green and lack of knowledge around the QLD area, I'd like to know if it's actually wise to buy investment in QLD?

For investors who buys in QLD, wouldn't your property insurance premium be higher than any other state?

The price are certainly attractive and affordable for me to start investing. But should I be sceptical due to the natural disasters?
Qld is very diverse place. different regions are impacted differently by natural weather events, and the premiums reflect that. However, insurance premiums should not be the main driver of decisions as to buy or not; I would think that there are many other factors that are more important - and have a more direct effect on making money via property- than insurance premiums.

If you are sceptical regarding natural disasters, check flood maps given by BCC( this should always be done irrespective before purchasing property anyway in a place like Brisbane). Do research as to how frequent and the type of weather events effect the region you are considering.
What I found is that staying closer to Brisbane CBD (say within 10km) , and ensuring the property is not flood affected, the premiums are reasonable and I don't think twice about it at all. The lower purchase price + rental yields + growth prospects trump and other holding costs. That's not to say that some areas within 10km of the CBD are not flood affected, absolutely some are, and have been, thus the importance of checking the flood maps and historical data.
 
Yeah guys if you can't look up a flood map and/or call an insurance company for a quote you really should look at your investment strategy.. That's a very very basic diligence step one of many you should perform before deciding to invest in property in any state.
 
First of all, I apologize if this post may offended property owners in QLD. I'm based in Sydney NSW and I hear lots of natural disasters affecting properties in QLD yet I still see many investment opportunities being marketed in QLD due to their cheaper market price. Being green and lack of knowledge around the QLD area, I'd like to know if it's actually wise to buy investment in QLD?

For investors who buys in QLD, wouldn't your property insurance premium be higher than any other state?

The price are certainly attractive and affordable for me to start investing. But should I be sceptical due to the natural disasters?
I'll try not to generalize
No Premiums are not necessarily higher depending on location, we have properties in middle ring suburbs located around BN well away from BN river or catchment and the biggest threat is from falling trees which is no different to any other capital. D/D is obviously required as some of the inner city blue chip suburbs can be some of the most flood affected. Historically houses were built on stilts for several reasons other than flooding and one is easy protection from termites with ant caps etc
With regard to cyclones this is a problem north of the tropic of Capricorn 23*South which will increase insurance premiums depending on location, most major regional centres which are located near large rivers which can flood but this is no different to Coffs Habour, Lismore, Kempsey,Grafton or numerous other locations along the coast and inland. The only bonus is that there is little risk of bush fires which can be a problem elsewhere
You need to do some D/D anywhere you intend to buy
 
Floods effect a tiny percentage of properties in SE QLD, hail storms happen all over Aus. We don't get the fires of NSW.

The media loves to hype a natural disaster they've got a lot of time to fill
 
Hehe, it's funny moving down South, you don't hear much about QLD. And when you do it's storm... flood... storm. Besides the Broncos and the Titans of course.
Thats exactly my impression about QLD. :D

sorry to generalise, somehow my thoughts about QLD: affordable property prices near CBD which is a big plus but the negatives are many disasters and we heard stories that many agents sold dud properties to interstate buyers.

The reason of this post is i want to know if anyone can give me good reason why investing in QLD is a good idea and hopefully turned my sceptical thoughts
 
For investors who buys in QLD, wouldn't your property insurance premium be higher than any other state?

The price are certainly attractive and affordable for me to start investing. But should I be sceptical due to the natural disasters?
The question about insurance seems to have been answered by other members. Whenever you are researching in order to invest, you need to look at the figures. In the medium and long term Qld, and in particular Brisbane, has done very well so if you buy in a good location, you will do ok if your plan is to hold on for a while. There are lots of information to support this. Why don't you do some research yourself instead of dwelling on the negatives?
 
Thats exactly my impression about QLD. :D

sorry to generalise, somehow my thoughts about QLD: affordable property prices near CBD which is a big plus but the negatives are many disasters and we heard stories that many agents sold dud properties to interstate buyers.

The reason of this post is i want to know if anyone can give me good reason why investing in QLD is a good idea and hopefully turned my sceptical thoughts
Just keep buying in Sydney, you make easy $100k a year in Sydney.....
 
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