Would you be buying in Mining towns currently?

[mojojojo]

Hi thanks for your feedback, we have friends who stay in the willows in the winter months, they have a house also in HB in the summer months, they keep telling us it would be a great investment and work is great in Emerald for us and the kids, but im just not sure what to do? Have been searching the net for information in regards to the area and the growth, but havnt found too much...

 

[Icarus]

I was based out of our Emerald ofice for 6 years, we had one lady who drove in and out of the Gemfields everyday - 1000ks on her car per week = lots of services, fuel costs and general maintainance issues which = $!

Willows is like comparing HB to Bundaberg; that's the distance you'd be driving in to town.. With bugger all in between! Emerald is not the cheapest town in the world either in terms of living expenses - rent is high and service generally is not.

I loved heading out for a fossick a few times a year; but it's a big call living there. I guess the best bet is for you to take a few days off work and go for a drive out and see what you think.

Winter isn't probably the best time to gauge population/lifestyle either as there are plenty of grey nomads in the local caravan parks and the weather isn't too hot.

There were some sales in the Willows a couple of years back that the council did to get rid of a few empty houses - they went for around $60k from memory.

Not sure why your mates think it's such a great investment, I gauge great investment by good return, easy to place a tenant and good capitol growth. Fair enough, friends are good to listen to sometimes - but if I listened to what some of my close friends said; I wouldn't be anywhere near where I was financially now. Do your research!! And good luck.

 

[mojojojo]

Thanks again for your informative information, i am glad i found this website, it opens up your eyes..lolo...thinking about it all, i don't think it would be a very wise move to go out there.....do you have any suggestions on places in Nth Queensland that would be a great place to live and work and invest money in property.