Townhouse complex with 100+ townhouses

I think I have finally been hit with some of that "analysis paralysis."

I'm searching for a 3 bedroom townhouse (SE QLD), however it seems that every property in the area I'm interested in seems to belong to a complex with at least 100 townhouses.

These townhouses are suitable for my situation because their relatively affordable (in comparison to stand alone, older 3 bedrooms in the area that may require some work), the rental yield is pretty good, most are 10-15 years old so there’s a fair bit of depreciation left and the general condition is pretty good (which helps because I’ll likely buy site unseen).

However, I'm still concerned about the high number of townhouses in each of the complex's I'm interested in. I'm at the point where I don't know if I should put in an offer or steer clear. Would love to hear others thoughts.....
 
Personally I'd steer clear of things with that many of the same thing in them.
- no uniqueness = lack of future demand if you need to sell
- what can you do to get more rental from yours?....nothing :(
- some fire sales in the complex = your val drops
- will it go up in val? probably, :cool:
 
Hi Andrew,

I'm looking around Logan. The ones that I narrowed it down to are around $240k and rent for around $300 p.w. Although, the BC fees are huge and the Logan city rates seem to be excessive ($2k+ p.a)
 
Personally I'd steer clear of things with that many of the same thing in them.
- no uniqueness = lack of future demand if you need to sell
- what can you do to get more rental from yours?....nothing :(
- some fire sales in the complex = your val drops
- will it go up in val? probably, :cool:

Yep, it's the uniqueness factor that is the most concerning for me. I might keep my eye out for something a little more boutiqe (maybe 75+ townhouses :))
 
I know the sort of area in Logan you are referring to and personally would steer well clear.

Like Propertunity mentioned earlier you ae just a number and especially when it comes to trying to renew the Tenancy or even worse sell.

Very difficult to retain value in such a complex let alone add value.

Stick to something a lot lot smaller.
 
Is this the block thats in a suburb starting with N??


I think I have finally been hit with some of that "analysis paralysis."

I'm searching for a 3 bedroom townhouse (SE QLD), however it seems that every property in the area I'm interested in seems to belong to a complex with at least 100 townhouses.

These townhouses are suitable for my situation because their relatively affordable (in comparison to stand alone, older 3 bedrooms in the area that may require some work), the rental yield is pretty good, most are 10-15 years old so there’s a fair bit of depreciation left and the general condition is pretty good (which helps because I’ll likely buy site unseen).

However, I'm still concerned about the high number of townhouses in each of the complex's I'm interested in. I'm at the point where I don't know if I should put in an offer or steer clear. Would love to hear others thoughts.....
 
Hey Nathan,

Nope, it's not in Nerang. I've been looking at the cluster of suburbs around Bethania/Beenleigh/Waterford and further north around Woodridge/Slacks Creek.

I'm keen to get something close to CF+/neutral. Something that won't be too negatively geared so in the event that we move to one income we can still support our two IPs. Maybe I should be looking at Mount Druit.....
 
I was looking at woodridge/kuraby/slacks creeks area about 3 months ago and you could still get a freestanding house (not new tho) with high yields, even without reno required.

I found the same issues with kuraby. Lots of townhouses on a huge complex. You can still get townhouses < 280k in not-so-big complex.
 
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