Suburbs for building new homes

[letiha]

Hi guys.

As many of you know we are building 4 IP's in brisbane, 3 in Carseldine 1 in Warner Lakes.

Just looking for suggestions for suburbs in other capital cities that would be good to build new homes, ones that are close to transport, schools, shopping. Areas that would not have problems with vacancy, anything that is median price to slightly over.

 

[letiha]

come on guys...any suggestions... think about your back yard, which suburb would you reccommend

 

[queenisis]

There's lots of expansion in Perth along the freeway - South (Kwinana Fwy) and North (Mitchell Fwy). My choice would be the newer suburbs/subdivisions south along the freeway eg, Hammond Park etc. They will all benefit when the south train line is completed.

Are you after new subdivisions like these? Or established suburbs where you can knock down an old house and build? What do you want to build? What's your budget? It can all make a difference.

QI

 

[steveadl]

ok if you want to have a look at Adelaide then you have a few options (these are all new estates, not knock down start over areas):

One very helpful site for you may be http://www.landdiscovery.com.au/estates.php?pag=2

- Underdale - 7km West of CBD, previously a Uni SA campus. Display village has gone up and parcels being sold. Definitely would'nt have problems with vacancy this close to town. More info: http://www.promenade.net.au/home.html

- Northgate Stage 2 - 8km North East of CBD, the last large greenfields land left near Adelaide CBD. Currently cutting in the first streets for the display homes. Parcels to start end of year I believe (although by the speed of the works so far, I'd say probably next year). Planning is calling for small blocks here, and multi level apartments. Vacancy should'nt be a problem here. For more info: http://www.elton.com.au/talknorthgatest3p1/

- Playford Waters - 28km from CBD in the subrubs of Smithfield (next to Elizabeth sububrs). Here you can probably find much cheaper packages as the land is relatively cheaper. Vacancies in the area are very low at the moment, about 1% last time I checked, but with a new house, you'll have absolutely no trouble finding a tennant.

- Seaford - 29km from CBD, sorry was there Sunday but I've forgotten the name of the development & their website, but fairly large and already under way there. Not sure on rental situation down there sorry.

Then if you want to move out of the city a bit you can go to new estates in Barossa Valley, Mt Barker, Virginia, Aldinga Beach etc.

 

[letiha]

Fantastic. Adelaide does appeal to me because my dad lives there, handy to keep an eye on the building process (former builder)

 

[poppy]

- Playford Waters - 28km from CBD in the subrubs of Smithfield (next to Elizabeth sububrs). Here you can probably find much cheaper packages as the land is relatively cheaper. Vacancies in the area are very low at the moment, about 1% last time I checked, but with a new house, you'll have absolutely no trouble finding a tennant.

We are building a place near Playford Waters (Coventry Road, Smithfield Plains). We expect to have some equity on completion and a good rental yield. Our PM tells us new places are renting quickly (two weeks or less). He also said they will start to advertise the place a week or two prior to handover in order to get the tenant in ASAP.

Be warned, expect delays due to major problems with building site crime in the area. We have already had 3 break-ins and our site supervisor tells us Playford Waters has worse problems than us. If you buy a block where the neighbours have already moved in, then you will have a lot less problems. We will also be installing an alarm system to help protect the place between handover and the tenant moving in as we do not live in Adelaide so can't check on the place (make sure you get a powerpoint put in an appropriate spot for the alarm).

 

[steveadl]

We are building a place near Playford Waters (Coventry Road, Smithfield Plains). We expect to have some equity on completion and a good rental yield. Our PM tells us new places are renting quickly (two weeks or less). He also said they will start to advertise the place a week or two prior to handover in order to get the tenant in ASAP.

Be warned, expect delays due to major problems with building site crime in the area. We have already had 3 break-ins and our site supervisor tells us Playford Waters has worse problems than us. If you buy a block where the neighbours have already moved in, then you will have a lot less problems. We will also be installing an alarm system to help protect the place between handover and the tenant moving in as we do not live in Adelaide so can't check on the place (make sure you get a powerpoint put in an appropriate spot for the alarm).

Poppy, well done on the new IP coming up. I've had no problem renting out my new IP's in the area either. Had people moving in on settlement date. My PM did the same, advertised about 3-4 weeks before it was available.

Doesn't surprise me that the theft on sites is bad up there. Seems to be happening everywhere in Adelaide, so up North would be just as bad (if not worse). One thing I would suggest is, if you don't have a tennant moving in on hand over date from the builder - make sure your insurance covers the building and contents (eg. Hot water system) beofre a tennant actually moves in.

 

[poppy]

One thing I would suggest is, if you don't have a tennant moving in on hand over date from the builder - make sure your insurance covers the building and contents (eg. Hot water system) beofre a tennant actually moves in.

Yes this is what I'm worried about. We will of course take out insurance to start from the day of practical completion, which apparently is the day that I become liable, and not the settlement day. I am very concerned because I have to get the carpets in plus a few other things and I don't see tenants moving in for at least a week or two. It will also be a huge issue if for some reason there is a significant problem at practical completion and I can't settle immediately and get the keys. In this case I guess I will be sleeping in the car outside until settlement because they will say I'm liable for damage and yet I will not have the keys so I won't even be able to organise a light on a timer or windows to be covered etc.

Anyway, at this stage if the house ever actually gets finished I will be surprised! It seems that no matter how many times the place gets broken into the builder won't take many security precautions (I noticed when we had handover on our Melbourne house, they didn't even lock the deadlocks or the windows because it is a hassle for them). I guess their insurance company must just keep paying up and the builder is not paying the interest, so they don't care if the house never gets finished. There are out clauses in the contract so the builder can take as long as they like if theft and vandalism occurs.

I can see a point in the future where break-ins are a major part of the cost of a new home and this will make the cost of building rise well above the CPI in my opinion.

Sorry to go off topic a bit!

 

[asdf]

Most landlord insurance policies will ask if your place is tenanted. Most of the time I just tick yes for my new places at PC but its not actually tenanted so wonder if its out for them if I then try to claim for stolen items. Touch wood, we've been extremely lucky with no break-ins but did have some lawn rolled up and taken away. Suppose thats another consideration, social economic status of the area you're building in.

 

[steveadl]

That's pretty bad Poppy, which builder are you using? I'll have to remember that when I'm looking to build.

 

[poppy]

That's pretty bad Poppy, which builder are you using? I'll have to remember that when I'm looking to build.

Builder is Weeks, but I don't think it is anything you wouldn't get with another builder. The site supervisors do the best they can I think, but you do need to be able to spend money to provide proper security (eg hire security patrols for new estates or using alarm systems). They did put up some temporary fencing after the first break in (2 break-ins since then, so obviously not effective). I'm yet to see whether they charge me for the fencing.