Townhouse - Thorneside or Benowa?

W

Wazza007

Howdy my first post so please be gentle!

We have very limited funds but have pre - approval for $220000 we are looking at town houses in gated estates in QLD within range of Brisbane with swimpool etc. We have decided on Thornside / West Manly, near the city and Train lines or Benowa / Southport - Labrador.

We are in this for long term growth we would prefer a house but it is clearly out of our range. We were thinking the better the facilities the better chances of low vacancy rates? Ive also noticed not many 3 bedroom places around so we will look for a 3 bedder.

I know its hard to give advice on these things Im aware of Corp Fees possible sinking funds etc As Im totally new to this I would appreciate any advice i.e if you think this is a totallydumb way to go please tell me!! In the meantime Im reading through as many rellevant posts on this forum though sometimes Im not sure what to look for!!

Cheers

Waz
 
Wow not even a hello or welcome

Gee from what I had read and heard this was the place to come and ask some questions. I realise my question was pretty general but not even a "hey your idea is dumb but welcome to the forum"

Oh well I guess I'll try somewhere else where you dont have to be an expert or you cant ask dumb questions.

Thanks for your time.

Cheers
Waz :confused:
 
Waz

Welcome (belatedly) to the forum.

It can be a little difficult to reply to a question which is very specific.

People who contribute try very hard to give advice. If we haven't responded, it's not because we're rude or unfriendly. It's just because nobody who read the thread could provide an answer. Apologies if we appeared rude- it really isn't that way.

We're a lot better on more general questions :D
 
Hi Waz,

I have lived in Benowa Waters for 6 years and currently reside in ashmore.

What part of Benowa were you looking at?

The area between Sorrento and Benowa waters are considered Prestiege Suburbs. (mostly waterfront) If you compare the two suburbs in Growth for the past 6 years I think you will find they are about the same.

Benowa has always been a good suburb, as its close to everything. Surfers Paraduse/Pacific Fair/Aust Fair/ Bundall(gold coast business district) / Schools / Benowa Shooping Viliage / royal pines resort / TAFE / GC Turf Club.

Areas around Benowa are Ashmore/Sorrento/Bundall/Carrara/Southport.All this areas have experienced excellent Capital Growth in the past 2 years.

A close relative of mine bought a 2 bed townhouse 6 years ago in the ashmore/southport area for $75,000 currently same properties for sale in the complex are around the $200K mark.

IMO Capital growth for this suburbs are softening, Infrastructure around this suburbs have improved, but no other improvements are in the works for the future.

Places you might be interested to have a look at is the Nerang area. Much infrasture improvement has been happenning around the surburb, lots of new developments underway. Social infrastructure has also improved in Nerang.

Please do your own research , this is just my personal point of view.

Cheers!
 
Thankyou for the response

Im very new at this...why else would I be looking at a town house :)

The place Im looking at in Benowa is a 3 bedroom town house for $215000 currently rented at $240.00. The complex is off benowa rd past AllChurch st.

The other area I was looking at was Arundel similar prices but returning $250.00-$260.00 rent in the Meadowlands complex. This area is growing with new westfield shopping centre and close to helensvale train station.

Project growth rates for both postcodes are identical but Arundel had a higher projected Yield.

I have seen a couple of similar prices and rents around Runaway bay and Southport but I dont really know much about these areas other than Runaway bay is where you catch the ferry to Couran cove.

I was looking at Thornside but the more I look the more Im unsure about the area I went up and had a drive around the mozzies were shocking! but in saying that Im keeping a close eye on a couple of places in West Manly.

I have just purchased a commercial property which is +ve by a good margin and I only have $200000 to spend which I dont mind setting up as a -ve.

Again thankyou very much for your reply I welcome any thoughts on Arundel or the location of the T/house in Benowa.

Im going to the GC next week to look at both these places.

Cheers

Warwick
 
Warwick - you should be able to pick up a copy of the weekend Gold Coast Bulletin in Sydney - it has an excellent real estate section and could open your eyes to other locations on the coast.

Regards

Paul
 
cazandpaul said:
Warwick - you should be able to pick up a copy of the weekend Gold Coast Bulletin in Sydney - it has an excellent real estate section and could open your eyes to other locations on the coast.

Regards

Paul
Click to expand...
Thanks Cazand paul Im heading up to the CG this weekend to have a look Im also looking around Manly but Ive left Sunday free to check out other areas. Ive just come back from Adelaide wre Ive picked up a Commercial property that +ve woo hoo Im finally a property owner.

Cheers

Waz
 
I would probably go for Southport/Labrador, in the long term I think you could do extremely well. I have read more than a few news articles regards Southport/Labrador area and most probably it will be unrecognisable in a few years, talk about potential, just look at the Sovereign Islands!, but the entry price is probably high these days.
Anyone know the price of a unrenovated older style unit there these days?.
 
markpatric said:
I would probably go for Southport/Labrador, in the long term I think you could do extremely well. I have read more than a few news articles regards Southport/Labrador area and most probably it will be unrecognisable in a few years, talk about potential, just look at the Sovereign Islands!, but the entry price is probably high these days.
Anyone know the price of a unrenovated older style unit there these days?.
Click to expand...

In labrador/southport or Sovereign Islands?

I wouldnt be comparing Sovereign Islands with southport/labrador imo they are completly differnt playingfields.

Crestwood developments have really boom'ed in the past 2 years. New commercial complex just about to be completed right at the entrance to Crestwood, Looks amazing! will definately add value to the area :D
 
True, but being in close proximity to these areas does rub off....and has!, but Southport/Labrador imo could still go off, I think its one of the few areas that still could but really the market is done there is no hurry to buy anything right now I say take your time and check it out properly.
 
Thanks amokk20us

Looks interesting, Ill make a call to find out about the rent returns.

Ive been looking at Houses in the Southern Subs of Adelaide. Im pretty keen to buy in Adelaide but the rental returns are not that high. Its been an interesting exercise for me Gold Coast Town houses vs Adelaide houses. Buy in prices -rent returns - outgoings - long term capital growth- correct time to buy in...ouch my head is still spinning. At least my deposit is just sitting there gaining interest...

Thanks for this one though.

Cheers

Waz
 
Hi Wazza, I am now in the same boat are you were.... did you ever get that town house? Where did you get it? I live on the Gold Coast btw.
 
Hi Muppie

After a couple of trips to Brisbane to look at a couple of properties in Benowa - Arundel - Runcorn - Thornside - Sunnybank Hills, we looked at the prices, body corp management fees and rent returns and couldnt find a suitable property that met our criteria, Benowa was our prefference.

We have purchased a small commercial property in Adelaide but we will re-visit these areas at some stage. Good hunting.
 
Waz

I have an old contact in the Gold Coast area that specilises in selling mortagee and distressed sale properties....mostly investors bailing out. I rembember looking at some of the prices a little while ago and they seemed to be going at really good prices.

Most of the properties I looked at were in well mantained complexes with swimming pools and tennis courts.

Please PM me if you would like me to find out the latest avalibilities.
 
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