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Adelaide or Brisbane with my budget

Discussion in 'Where to Buy' started by rogerG, 31st Oct, 2016.

  1. rogerG

    rogerG Member

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    Hi All,

    I am new to this forum. So looking for some advice. I am able to afford upto 400k (including stamp duty and other relevant fees) for my first IP. But should I be looking in Adelaide first or Brisbane ?
     
  2. Nemo30

    Nemo30 Well-Known Member

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    Depends what you are going to do with it.
     
  3. sash

    sash Well-Known Member

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    If you are following cycles...both would be good...just Adelaide you need to be with 16-18 klms of the city to have maximum gain.

    What is your price range?
     
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  4. D.T.

    D.T. Specialist Property Manager Business Member

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    Not really familiar with Brisbane, but either are decent bets I'd say.

    With your stipulated price range of $400k you can get in majority of suburbs here - try to squeeze into about the 7km radius range with houses, avoid units.
     
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  5. Gockie

    Gockie Be the change you want to see in the world Business Member

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    Sounds so damn affordable.
     
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  6. sash

    sash Well-Known Member

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    Yep..you can get within 7-8 klms in Adelaide.

    But bear in mind stamp duty and registration in SA is atrocious....Brisbane is cheaper but you will struggle to get within 7-8 klms on 400k....
     
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  7. rogerG

    rogerG Member

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    I am basically after a neutrally geared if not a positively geared property, buy and hold for CG. Budget is at max 400k but ideally would want to spend not more than 350k. Thats only ideally :)

    Thanks D.T. Looks like your the Adelaide expert in here, sorry for my bluntness :) Which areas should I be looking for the following
    1. Below market value
    2. Involve some cosmetic renovation
    3. Ideal if we can put a granny flat for dual income

    I am just devising a plan as which criterias should I be following. So I am raw as you might have noticed. But I will give it a go and be better on this.
     
  8. sash

    sash Well-Known Member

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    I you want neutral.....you will need to get into something for 280-350k.....that means it is something 9-12 klms out

    Why because the rents drop as you go higher in price...look at prices for $400k and see if you can get 400-420pw in rent....
     
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  9. JDP1

    JDP1 Well-Known Member

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    As much as id like to hype Brisbane.. I'd have to agree with some of the posters above. 350k (don't max it out at 400k) go for a small house or Townhouse in Adelaide inner-mid burbs.
    Too late to get that in inner and mid Brisbane.
     
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  10. norwoodman

    norwoodman Well-Known Member

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    Can't have it both ways - stamp duty might be a lot more in SA, but council rates and insurance in QLD are more than in SA, sometimes significantly. Try 15-20km from Brisbane CBD for under $400k or the western/northern suburbs of Adelaide.
     
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  11. rogerG

    rogerG Member

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    Thanks JDP1.
     
  12. rogerG

    rogerG Member

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    Hi norwoodman,

    I was just looking at few suburbs in Brisbane but not sure I will be able to go for 15-20km ring. I am after a detached house, not a townhouse. So suburbs far out like- Kippa Ring, Redcliffe etc fits my budget bill. This is just my impression so far. What do you think ?

    For Adelaide, I will have to read more as I am not sure which areas are better/fit the bill for me.

    Cheers,
    Rog
     
  13. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    In terms of where each market is within the cycle, Brisbane has certainly already had a significant progression through the growth cycle, whilst Adelaide is only just coming off from it's recovery cycle. Most commentators are positive on both markets, so I think it's more of a case of where you feel you'll gain the most value and what the risk is with timing.

    In terms of location/quality you're going to be able to buy into a more 'blue chip' quality property in Adelaide than Brisbane for the money. Thankfully there's a number of Adelaide and Brisbane threads in the forum which are very active, so you'll be able to glean a lot of on the ground information from active investors.
     
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  14. EN710

    EN710 Well-Known Member Premium Member

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    Are you serious?! Maybe I should plan now..... :rolleyes:
     
  15. jins13

    jins13 Well-Known Member

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    Maybe @D.T. can confirm this but you cannot have a dual income of house and granny flat in Adelaide
     
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  16. samiam

    samiam Well-Known Member

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    Which suburbs in particular? I start eyeing on Adelaide but probably next year after pulling equity out from Brisbane ;)
     
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  17. josh123

    josh123 Well-Known Member

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    I'm interested in this also as I'm thinking of going down the same path in Adelaide
     
  18. sash

    sash Well-Known Member

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    Noice one...I await with baited breath....;)

     
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  19. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Granny flats are known as dependant dwellings and are not legal to rent out to seperate parties. You can do a head lease and allow subletting but this has impact on insurance.

    What DT mentions is a secondary dwelling which has council approval. This can be half houses or approved standalone dwellings.
     
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  20. D.T.

    D.T. Specialist Property Manager Business Member

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    You probably want to review the forum's official suburb reviews first, to get you up to speed so you can ask some more specific questions adelaide suburb review | PropertyChat

    Correct, not legal here.
    Perhaps have a look at the above links first, then can discuss further after that ok? :)
    Do you mean bated?
     
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