Which prize would you choose??

[Steve KKK]

Not sure if this has been asked before or not, but if you were to win one of those Arthouse/Boystown/RSL lotteries and had the following choices of prizes (all of equal value, say $1M);

House on Gold Coast Hinterland, Qld
Lowrise Unit Complex on the Gold Coast
Terrace or Unit in Sydney
Terrace or Unit in Melbourne
House on the Sunshine Coast, Qld

Which would you choose and why?
Lifestyle?
Potential for Capital Growth?

Or if you have won one of these prizes, which DID you choose and why?

 

[The Y-man]

Terrace in Melb or Sydney for CG - assuming a "terrace" is what I think it is....

Cheers,

The Y-man

 

[johnnyb]

House on the Sunshine Coast because of the options - a holiday house, a retirement house, and good CG. Not sure what the rental market would be like for a $1M house though.

 

[skater]

Was going to say Terrace in Sydney, but then thought that since I already have a large Land Tax burdon in NSW, that wouldn't be a great choice for our situation at the moment.

Will go for the house on Gold Coast.

Reasons: Would be new, so lots of depreciation, and minimal maintenance. It is a growing area, so should have good Capital Gain. Don't currently have any QLD properties, so no Land Tax. If we were to re-locate anywhere, it would probably be to QLD, so that would give us a home there without a mortgage (of course we would use the equity for more investments).

 

[Peter Parker]

With $1m, I'd rather 2 or 3 houses in Melbourne (preferably on adjoining blocks!), but as this isn't offered, I'd have to settle on the terrace.

Melbourne or Sydney? Either would be fine, but due to lower average prices the Melbourne one would have more land (though not necessarily land value) than Sydney.

I didn't choose a new unit, as the depreciation benefits wouldn't be worth much to me, the location might not be ideal and bodies corporate are for those who can't afford better.

But a solid terrace with no body corporate, of architectual scarcity value in a prestige older suburb (eg Albert Park) would appeal and nicely balance the rest of the portfolio and be regarded as 'blue chip' for borrowing against.

Peter

 

[lizzie]

i'd have to do some serious background research to find out which is a combination of worth more to me and easiest to sell, as none are in a location i am currently interested in and i could use the money to better use in my current scheme of things.

would depend on what suburb they were in as this could affect price - although i would be tending towards the lowrise on goldcoast or terrace in sydney because of the above reasons.

 

[Aceyducey]

If decent land area, the Terrace in Sydney.

Otherwise Gold Coast house.

Cheers,

Aceyducey

 

[topcropper]

I would go the Gold Coast house.

Second, sunshine coast house.

Would keep for capital gain and rent out.

See ya's.

 

[handyandy]

Lowrise on Gold Coast.

I assume this is where you get a small unit block of 6 or so units.

Rent out the units and keep the penthouse for my own pleasure. In this way it will be an investment and a personal use benifit. The capital gain will come in time.

Certainly at this stage would not be looking for any more NSW property as per Skaters reasons. Although I suspect that you would receive and instant Land tax bill as the lannd content would exceed the QLD threshold.

I would also put the properties into a strucuture that would directly benefit my sons but preclude any partners.

Cheers

 

[Jindaro]

Which one?

Funny you should ask that question. A property friend of mine asked me exactly the same thing a couple of days ago but only gave me the option of the Qld house and the Sydney terrace.

After much thought, I chose the Qld house based on not owning any Qld properties and not wanting to add to my NSW land tax bill Depreciation would be good too!