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i just wanna make a buck and will go to the black stump if that's where it is.
The "black stump" is just north of Butler..............
Sorry couldn't resist.
BTW is there an airfield or airport near by trinity?
Yep, Geraldton
We took a trip out to Trinity Alkimos the other weekend, turns out we had to travel further down to Alkimos to look at the display homes we wanted to view
Trinity Alkimos, is apparenlty not Alkimos
Long Drive down a lonely road once you're past Clarkson, Ridgewood, Butler etc
You probably travelled to Shorehaven, Alkimos to see the dispay home. Trinity is also in Alkimos. Trinity is at the most southern end of Alkimos while Shorehaven is at the most northern end. It is going to be a large suburb.
I have final approval from a finance perspective for Butler.
Couple of things I was able to negotiate:
1. Got a val of $375k for a 4x2x2 in Butler near the new shops and rail station. Mind you this is a bank val and is probably at least 10 under market. So real value is probably around 405-420k.
2. SunCorp policy would only provide val based on the construction and land. In my case it is about 345k
3. I made a deal with SunCorp to hold 35k in a term deposit and pay only a 10-12% deposit to avoid LMI.
4. Once the house is complete it should val to $375 as it was previously valued at 375k only 6 months ago.
So to the people who are saying Butler is falling...it comes to down to how much you pay. You get very little house for under 345k. In most instances these houses have common walls on both ends and are in blocks of 180-240 sqm. My block is about 380qm.The smaller houses have building areas of less than 150sqm whereas mine is 200sqm.
The demand for 4x2x2 are greatest and you are easily getting 420pw for well spec'd homes. Mine has stone benchtops, 900mm ovens, A/C, landscaping with low maintenance gardens, WIR, wardrobes, study to the front, etc. These are the things in demand.
So is that $35K term deposit the 10-12% deposit of additional to the deposit?
yeah not wrong!
i heard the marina is the last on the list of things to be done. imo that's just silly, it should be the first thing done to draw the crowds in, like mindarie.
Problem with all these areas with cheap houses is they attract investors and therefore cheap tenants. I know they are not all bad but there is enough of them to turn these areas into upmarket ghettos. Just look at Clarkson where the crime rate is out of control, it started out nice enough. Infrastructure in Perth just can't keep up with these rapidly expanding areas, not enough police, roads or public transport. Just because there is a train station doesn't mean you can use it if there is no where to park your car. Many people live in these areas because its all they can afford, not because it is at all appealing to live there and when you are relying on CG for your investment to make money that is not ideal.
There will be 900 parks at Butler Train station. Rents are relatively high and these investments are typically cashflow neutral after depreciation and tax is taken in to account, so you are not just relying on capital gains.Also i think you are wrong re the demographics buying in Butler. There are a lot of downsizers and first home buyers buying in to the area, because the type of housing that is being offered.
Not to mention the Britons and South Africans who like this area.
Go across Marmion Avenue to the beachside and you will not get a house under 550k.
You are correct about high rents ....even basic 2 bedder which is a couple of years old rents for $350pw.
Lot's of Kiwi's as well. Being a kiwi myself living in the area (Jindalee) we often joke that if we find any Aussies from Perth in the area we assume they must be lost venturing this far north!!!. The infrastructure going in to the place is huge. As I have mentioned in previous posts I live in the area for lifestyle reasons and that applies to most of the immigrants in the area. Compared to the countries most of the immigrants come from you could not dream of living close to the ocean 40km from the city (38 minutes by train) for the price it costs to buy Jindalee, Butler and surrounds. That's why I think there's room for good capital growth. Interestingly there is even quite a few Eastern States people living in the area, and loving it. Perhaps they don't have the pre conceived ideas a lot of Perth people seem to have about the outer northern suburbs.